EURUSD: The indicators in the chart have still favored bullish signals on this pair, and, therefore, the current reversal in the market is weak and will be short likely, giving an opportunity for further long trades. The price could rise upwards to test the resistance line at 1.3350.
USDCHF: This is a bear market, the price is currently rallying weakly, which is expected to be transient. This gives an opportunity to sell short at a slightly higher price in the context of downtrend. The price could touch the support line of 0.9250 again.
GBPUSD: The Cable has been weak lately. However, the weakness is not strong enough to override the extant Bullish Confirmation Pattern in the chart (as shown by the indicators positions). The only thing that can render the bullish outlook invalid is a scenario in which the price trades below the accumulation territory of 1.5200.
USDJPY: The USD/JPY pair has continued to nosedive as a result of the stamina evident in the Yen. This pair has dropped by over 200 pips this week, breaking the market level at 97.00 to the downside. Should this bearish propensity continue this week, the next target would be the demand level at 96.50.
EURJPY: This cross has plummeted by almost 300 pips this week. Even the minor bullish retracement that happened on August 6, 2013 (Wednesday) was just a good chance to sell short when the price traded higher in accordance with southward scenario. The price could eventually breach the demand zone at 128.50.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: The indicators in the chart have still favored bullish signals on this pair, and, therefore, the current reversal in the market is weak and will be short likely, giving an opportunity for further long trades. The price could rise upwards to test the resistance line at 1.3350.
USDCHF: This is a bear market, the price is currently rallying weakly, which is expected to be transient. This gives an opportunity to sell short at a slightly higher price in the context of downtrend. The price could touch the support line of 0.9250 again.
GBPUSD: The Cable has been weak lately. However, the weakness is not strong enough to override the extant Bullish Confirmation Pattern in the chart (as shown by the indicators positions). The only thing that can render the bullish outlook invalid is a scenario in which the price trades below the accumulation territory of 1.5200.
USDJPY: The USD/JPY pair has continued to nosedive as a result of the stamina evident in the Yen. This pair has dropped by over 200 pips this week, breaking the market level at 97.00 to the downside. Should this bearish propensity continue this week, the next target would be the demand level at 96.50.
EURJPY: This cross has plummeted by almost 300 pips this week. Even the minor bullish retracement that happened on August 6, 2013 (Wednesday) was just a good chance to sell short when the price traded higher in accordance with southward scenario. The price could eventually breach the demand zone at 128.50.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: