EUR/USD: The EUR/USD remains a bull market is spite of the current equilibrium phase in the price. The indicators on the chart support the existence of the bulls’ domination, and it is very much likely that the resistance line of 1.3800 would be tested again and again until it is eventually overcome.
USD/CHF: This currency trading instrument remains a bear market in spite of the current equilibrium phase in the price. The indicators on the chart support the existence of the bears’ domination, and it is very much likely that the support level of 0.8850 would be tested again and again until it is eventually overcome.
GBP/USD: This pair has continued its weakness; and the upward bounce that is currently happening could mean another opportunity to buy a rally in the context of a downtrend. Indeed, the GBP has been a weak currency and the sell signal here would continue to be valid for as long as the price remains below the EMA 56 and the RSI period 14. The current rally could be rejected at the accumulation territory of 1.6300 and the price could fall down further from there.
USD/JPY: The USD/JPY has moved largely sideways since Monday. Being above the demand level of 102.50 (and of course, above the EMA 11), the price could rise upwards when a directional movement begins in the market.
EUR/JPY: This cross is in a clear uptrend despite the fact that the price has been moving largely sideways since Monday. It would not be a surprise when the price ends up closing above the supply zone of 142.00 before the end of this week.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: The EUR/USD remains a bull market is spite of the current equilibrium phase in the price. The indicators on the chart support the existence of the bulls’ domination, and it is very much likely that the resistance line of 1.3800 would be tested again and again until it is eventually overcome.
USD/CHF: This currency trading instrument remains a bear market in spite of the current equilibrium phase in the price. The indicators on the chart support the existence of the bears’ domination, and it is very much likely that the support level of 0.8850 would be tested again and again until it is eventually overcome.
GBP/USD: This pair has continued its weakness; and the upward bounce that is currently happening could mean another opportunity to buy a rally in the context of a downtrend. Indeed, the GBP has been a weak currency and the sell signal here would continue to be valid for as long as the price remains below the EMA 56 and the RSI period 14. The current rally could be rejected at the accumulation territory of 1.6300 and the price could fall down further from there.
USD/JPY: The USD/JPY has moved largely sideways since Monday. Being above the demand level of 102.50 (and of course, above the EMA 11), the price could rise upwards when a directional movement begins in the market.
EUR/JPY: This cross is in a clear uptrend despite the fact that the price has been moving largely sideways since Monday. It would not be a surprise when the price ends up closing above the supply zone of 142.00 before the end of this week.
The material has been provided by InstaForex Company – www.instaforex.com
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