EUR/USD: In the context of an uptrend on this pair, one would see an upswing followed by a downswing. Here, any downswing is an opportunity to buy at a better price, i.e. when things are on sale in the context of an uptrend. Right now, the price is edging towards the resistance line of 1.3600 (to test it again).
USD/CHF: In the context of a downtrend on this pair, one would see a downswing followed by an upswing. Here, any upswing is an opportunity to sell at a better price, i.e. when things rally in the context of a downtrend. Right now, the price is hovering around the market level of 0.9050 (which gives another short-selling opportunity).
GBP/USD: So far this week, this pair still finds it difficult to go further higher, although the uptrend is still very much in place. The price territory at 1.6400 has a lot of activity going on around it, and it stands the chance of being cleanly breached to the upside.
USD/JPY: From a top of 103.37, the USD/JPY pulled back by over 130 pips. The pullback was checked at the demand level of 102.00, as the price bounced upwards from that place. One thing to note is that short-term counter-trend traders would have made some quick buck from the reversal that happened yesterday. The dominant bias remains bullish.
EUR/JPY: This cross, on which the major bias is northward, also had some bearish retracement yesterday. The bearish retracement is, however, less significant than that of the USD/JPY. The price is currently being stabilized, though it can be seen that the price is gradually edging upwards. The presence of the bulls is still conspicuous.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: In the context of an uptrend on this pair, one would see an upswing followed by a downswing. Here, any downswing is an opportunity to buy at a better price, i.e. when things are on sale in the context of an uptrend. Right now, the price is edging towards the resistance line of 1.3600 (to test it again).
USD/CHF: In the context of a downtrend on this pair, one would see a downswing followed by an upswing. Here, any upswing is an opportunity to sell at a better price, i.e. when things rally in the context of a downtrend. Right now, the price is hovering around the market level of 0.9050 (which gives another short-selling opportunity).
GBP/USD: So far this week, this pair still finds it difficult to go further higher, although the uptrend is still very much in place. The price territory at 1.6400 has a lot of activity going on around it, and it stands the chance of being cleanly breached to the upside.
USD/JPY: From a top of 103.37, the USD/JPY pulled back by over 130 pips. The pullback was checked at the demand level of 102.00, as the price bounced upwards from that place. One thing to note is that short-term counter-trend traders would have made some quick buck from the reversal that happened yesterday. The dominant bias remains bullish.
EUR/JPY: This cross, on which the major bias is northward, also had some bearish retracement yesterday. The bearish retracement is, however, less significant than that of the USD/JPY. The price is currently being stabilized, though it can be seen that the price is gradually edging upwards. The presence of the bulls is still conspicuous.
The material has been provided by InstaForex Company – www.instaforex.com
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