EURUSD: The bias on the EURUSD pair is towards the downside. The price has traded perpetually below the resistance line of 1.3050, and would do well to favor the bears, should it go further downwards toward the support line of 1.2950. The market seems to be indecisive now, but more selling pressure should resume.
USDCHF: There is a clean bullish signal on this instrument and the market has moved upwards by close to 130 pips in this week. The EMA 11 clearly remains above the EMA 56, and the Williams’ % Range is currently in the overbought region; this means there could be some transient bearish retracement before the price goes towards the resistance level of 0.9500.
GBPUSD: The movement on the cable is currently indecisive, but the price movement possibility is towards the south. The RSI period 14 is below the level 50, while the EMA 11 is also below the EMA 56. There seems to be some kind of consolidation in the market right now, but it may not be difficult for the price to test the accumulation territory of 1.5200 again.
USDJPY: There is still a nice Bullish Confirmation Pattern on the USDJPY chart, and the price is trading far above the EMA 56. However, the great supply level of 100.00 is a serious threat to further bullish interest. It would take a great deal of energy and determination for the price to break this great barrier, otherwise there would be a halt in the northward journey.
EURJPY: Here, the bearish attempt that was seen at the beginning of this week was checked at the demand zone of 128.00. The scenario on this cross is similar to that of the USDJPY pair. The price still has some bullish potential and the indicators support this outlook. For the price to continue its northward push, it would need to overcome the supply zones of 130.00 and 130.50.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: The bias on the EURUSD pair is towards the downside. The price has traded perpetually below the resistance line of 1.3050, and would do well to favor the bears, should it go further downwards toward the support line of 1.2950. The market seems to be indecisive now, but more selling pressure should resume.
USDCHF: There is a clean bullish signal on this instrument and the market has moved upwards by close to 130 pips in this week. The EMA 11 clearly remains above the EMA 56, and the Williams’ % Range is currently in the overbought region; this means there could be some transient bearish retracement before the price goes towards the resistance level of 0.9500.
GBPUSD: The movement on the cable is currently indecisive, but the price movement possibility is towards the south. The RSI period 14 is below the level 50, while the EMA 11 is also below the EMA 56. There seems to be some kind of consolidation in the market right now, but it may not be difficult for the price to test the accumulation territory of 1.5200 again.
USDJPY: There is still a nice Bullish Confirmation Pattern on the USDJPY chart, and the price is trading far above the EMA 56. However, the great supply level of 100.00 is a serious threat to further bullish interest. It would take a great deal of energy and determination for the price to break this great barrier, otherwise there would be a halt in the northward journey.
EURJPY: Here, the bearish attempt that was seen at the beginning of this week was checked at the demand zone of 128.00. The scenario on this cross is similar to that of the USDJPY pair. The price still has some bullish potential and the indicators support this outlook. For the price to continue its northward push, it would need to overcome the supply zones of 130.00 and 130.50.
The material has been provided by InstaForex Company – www.instaforex.com
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