EURUSD: There is a new ‘sell’ signal on this pair, following the bearish Confirmation Pattern that happened as a result of perpetual weakness in the pair. The price line at 1.3250 is under siege and would probably be breached to the downside as the current bias holds.
USDCHF: The current bias on this market – as bullish as it is – has long been confirmed as the price now stays above the EMAs 11 and 56 (while the latter EMA is below the former). This week, the price has gone upwards by close to 160, while the Williams’ % Range has gone into the overbought region. Given the strong buying pressure in the market, the price may go on to test the resistance level at 0.9400.
GBPUSD: In contrast to what the EURUSD is doing, the Cable has not resulted in a Bearish Confirmation Pattern on the chart, despite the fact that it has also been pummeled. The best thing to do right now is to wait until there is a clear signal in the market, because the current mixed signals are clearly ambiguous.
USDJPY: The JPY pairs have all gone bullish. This currency instrument is still in a very strong bullish mode in the face of marked weakness in the Yen and perceived strength in the greenback. The next supply level to be reached is at 99.00.
EURJPY: The EURJPY is also bullish (as it points northward right now). The price has been turbulent lately, but the northward possibility is still viable. Eventually, the price could reach the supply zone of 131.00; as this is being confirmed by the position of the indicators in the chart.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: There is a new ‘sell’ signal on this pair, following the bearish Confirmation Pattern that happened as a result of perpetual weakness in the pair. The price line at 1.3250 is under siege and would probably be breached to the downside as the current bias holds.
USDCHF: The current bias on this market – as bullish as it is – has long been confirmed as the price now stays above the EMAs 11 and 56 (while the latter EMA is below the former). This week, the price has gone upwards by close to 160, while the Williams’ % Range has gone into the overbought region. Given the strong buying pressure in the market, the price may go on to test the resistance level at 0.9400.
GBPUSD: In contrast to what the EURUSD is doing, the Cable has not resulted in a Bearish Confirmation Pattern on the chart, despite the fact that it has also been pummeled. The best thing to do right now is to wait until there is a clear signal in the market, because the current mixed signals are clearly ambiguous.
USDJPY: The JPY pairs have all gone bullish. This currency instrument is still in a very strong bullish mode in the face of marked weakness in the Yen and perceived strength in the greenback. The next supply level to be reached is at 99.00.
EURJPY: The EURJPY is also bullish (as it points northward right now). The price has been turbulent lately, but the northward possibility is still viable. Eventually, the price could reach the supply zone of 131.00; as this is being confirmed by the position of the indicators in the chart.
The material has been provided by InstaForex Company – www.instaforex.com
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