EUR/USD: This market is still bearish, irrespective of the incessant northward pushes, which are short-term in nature. These short-term northward pushes have not been able to take the price above the EMA 56, and as long as the price remains below the EMA 56 (and the EMA 11 is below the EMA 56), a long trade would not be advised.
USD/CHF: This pair requires some tact in handling. There has not been any clear victory between buyers and sellers this week: any gains in the near term have been forfeited during bearish pressures. Right now, it is better to stay out of this market, waiting for a clearer directional confirmation before a new order is opened.
GBP/USD: The GBP/USD has trended in a downwards manner, in the face of the current weakness in the Cable. In fact, most GBP pairs have gone into southward biases. The current scenario in the chart has violated the recent bullish outlook and can be the beginning of a new bearish era. The price could go downwards towards the accumulation territory at 1.5100.
USD/JPY: This is a bearish market (in which any intermittent rallies have been short-term). The price is below the EMA 56 and the RSI period 14 is below the 50 level. The next price target could be at the demand level of 92.50.
EUR/JPY: Here, the bull is trying to push the price upwards, but the euro is very weak. The bearish bias on this cross remains valid. There is some bearish confirmation pattern in the chart. The demand zone at 119.00 must, at least, be targeted this week. Only an exponential strength in the euro could hinder this expectation.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: This market is still bearish, irrespective of the incessant northward pushes, which are short-term in nature. These short-term northward pushes have not been able to take the price above the EMA 56, and as long as the price remains below the EMA 56 (and the EMA 11 is below the EMA 56), a long trade would not be advised.
USD/CHF: This pair requires some tact in handling. There has not been any clear victory between buyers and sellers this week: any gains in the near term have been forfeited during bearish pressures. Right now, it is better to stay out of this market, waiting for a clearer directional confirmation before a new order is opened.
GBP/USD: The GBP/USD has trended in a downwards manner, in the face of the current weakness in the Cable. In fact, most GBP pairs have gone into southward biases. The current scenario in the chart has violated the recent bullish outlook and can be the beginning of a new bearish era. The price could go downwards towards the accumulation territory at 1.5100.
USD/JPY: This is a bearish market (in which any intermittent rallies have been short-term). The price is below the EMA 56 and the RSI period 14 is below the 50 level. The next price target could be at the demand level of 92.50.
EUR/JPY: Here, the bull is trying to push the price upwards, but the euro is very weak. The bearish bias on this cross remains valid. There is some bearish confirmation pattern in the chart. The demand zone at 119.00 must, at least, be targeted this week. Only an exponential strength in the euro could hinder this expectation.
The material has been provided by InstaForex Company – www.instaforex.com
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