EURUSD: On this pair, the bias is predominantly bullish as confirmed by the position of the indicators and the price action. There is currently a minor pullback in the market, but when the price does resume its movement, it would be to the upside, the price would probably reach the resistance line of 1.3800.
USDCHF: On this pair, the bias is predominantly bearish as confirmed by the position of the indicators and the price action. There is currently a minor rally in the market, but when the price does resume its move, it would be to the downside, the price would probably reach the support level of 0.8850, which has already been tested once in this week.
GBPUSD: The currency markets are currently in stabilization phases, after which the dominant biases would resume. The pullbacks that are happening right now would be a temporary thing. On the Cable, the distribution territory of 1.6450 has already been tested several times during the course of the present stabilization phase. The besieged distribution territory would thus get breached to the upside very soon, after which the price would go for the next distribution territory at 1.6500.
USDJPY: This pair remains in the bull market in spite of the current pullback and the fact that the RSI period 14 has crossed the level 50 to the downside. As long as the price is above the demand level of 102.00 (and the EMA 56), the bias is bullish.
EURJPY: This is also the bull market, and the pullback that is being experienced on it is shallower than that of the USDJPY. The price could still go on towards the supply zone of 142.00.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: On this pair, the bias is predominantly bullish as confirmed by the position of the indicators and the price action. There is currently a minor pullback in the market, but when the price does resume its movement, it would be to the upside, the price would probably reach the resistance line of 1.3800.
USDCHF: On this pair, the bias is predominantly bearish as confirmed by the position of the indicators and the price action. There is currently a minor rally in the market, but when the price does resume its move, it would be to the downside, the price would probably reach the support level of 0.8850, which has already been tested once in this week.
GBPUSD: The currency markets are currently in stabilization phases, after which the dominant biases would resume. The pullbacks that are happening right now would be a temporary thing. On the Cable, the distribution territory of 1.6450 has already been tested several times during the course of the present stabilization phase. The besieged distribution territory would thus get breached to the upside very soon, after which the price would go for the next distribution territory at 1.6500.
USDJPY: This pair remains in the bull market in spite of the current pullback and the fact that the RSI period 14 has crossed the level 50 to the downside. As long as the price is above the demand level of 102.00 (and the EMA 56), the bias is bullish.
EURJPY: This is also the bull market, and the pullback that is being experienced on it is shallower than that of the USDJPY. The price could still go on towards the supply zone of 142.00.
The material has been provided by InstaForex Company – www.instaforex.com
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