EURUSD: This pair is in the bullish mode even despite the latest equilibrium phase in the market. The Williams’ % Range is moving into the overbought region, which means that the buying pressure is strong on this pair. The price may eventually move towards the resistance line at 1.3300 and breake it to the upside.
USDCHF: Likewise, USD/CHF is in the bearish mode, irrespective of the latest sideways determination on it. The fact that the Williams’ % Range period 20 is going towards the oversold territory means that the bears are holding sway right now. The support level at 0.9250 may be breached eventually to the downside.
GBPUSD: GBPUSD is trending upwards towards the distribution territory at 1.5400, which may be easily breached to the upside. Since the price is nigh that distribution territory, the breaking it to the upside is very high, especially with the current Bullish Confirmation Pattern in the chart.
USDJPY: The bias here is moving towards the south, though it must be stated that the market has been tumultuous recently. Yes, handling the tumult/volatility is easy: one would simply need to trade in the direction of the overall bias, selling any rallies in the price. Now, there is a rally to be sold at the supply level of 98.50, using a pending order.
EURJPY: The outlook on USD/JPY is valid on this cross as well. The price has come down since the beginning of the week, but it is a kind of rallying right now, giving a good shorting opportunity in the present context of a downtrend. The market zone at 130.50 is a good shorting opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: This pair is in the bullish mode even despite the latest equilibrium phase in the market. The Williams’ % Range is moving into the overbought region, which means that the buying pressure is strong on this pair. The price may eventually move towards the resistance line at 1.3300 and breake it to the upside.
USDCHF: Likewise, USD/CHF is in the bearish mode, irrespective of the latest sideways determination on it. The fact that the Williams’ % Range period 20 is going towards the oversold territory means that the bears are holding sway right now. The support level at 0.9250 may be breached eventually to the downside.
GBPUSD: GBPUSD is trending upwards towards the distribution territory at 1.5400, which may be easily breached to the upside. Since the price is nigh that distribution territory, the breaking it to the upside is very high, especially with the current Bullish Confirmation Pattern in the chart.
USDJPY: The bias here is moving towards the south, though it must be stated that the market has been tumultuous recently. Yes, handling the tumult/volatility is easy: one would simply need to trade in the direction of the overall bias, selling any rallies in the price. Now, there is a rally to be sold at the supply level of 98.50, using a pending order.
EURJPY: The outlook on USD/JPY is valid on this cross as well. The price has come down since the beginning of the week, but it is a kind of rallying right now, giving a good shorting opportunity in the present context of a downtrend. The market zone at 130.50 is a good shorting opportunity.
The material has been provided by InstaForex Company – www.instaforex.com
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