EUR/USD: The reversal that happens on this currency instrument has the potential to overturn the recent bearish scenario, should it continue further. Whether what is happening would be a false breakout or a sustained bullish outbreak will be indicated with the time. Until then, one might need to sit on the fence.
USD/CHF: The USD/CHF also has given way to the ever persistent bearish pull it once shrugged off consistently. There has been an exponential weakness in the USD. Period. From the resistance level of 0.9750, the price plummeted by more than 300 pips. One would need to wait for what the chart analysis would confirm before taking a position.
GBP/USD: In the face of the fact that the price has skyrocketed from around the accumulation territory of 1.4850, it is better not to look for short trades here. In fact, one would need to wait for further confirmation on the price before taking a position. The RSI period 14 has given a bullish signal, but the EMAs have not.
USD/JPY: There has already been a Bearish Confirmation Pattern on the USD/JPY, following the consolidation that has occurred there earlier this week. The best thing to do is to go short here; for the bearish possibility has been in place before the Greenback itself started to experience the current exponential weakness.
EUR/JPY: The situation on the cross is tricky right now: for neither the bull nor the bear can claim a victory at the moment. This is because the EUR has suddenly become strong, just as the JPY is. The market is in a kind of equilibrium zone, and one would need to wait for a bullish or bearish bias to be ascertained before opening a position.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: The reversal that happens on this currency instrument has the potential to overturn the recent bearish scenario, should it continue further. Whether what is happening would be a false breakout or a sustained bullish outbreak will be indicated with the time. Until then, one might need to sit on the fence.
USD/CHF: The USD/CHF also has given way to the ever persistent bearish pull it once shrugged off consistently. There has been an exponential weakness in the USD. Period. From the resistance level of 0.9750, the price plummeted by more than 300 pips. One would need to wait for what the chart analysis would confirm before taking a position.
GBP/USD: In the face of the fact that the price has skyrocketed from around the accumulation territory of 1.4850, it is better not to look for short trades here. In fact, one would need to wait for further confirmation on the price before taking a position. The RSI period 14 has given a bullish signal, but the EMAs have not.
USD/JPY: There has already been a Bearish Confirmation Pattern on the USD/JPY, following the consolidation that has occurred there earlier this week. The best thing to do is to go short here; for the bearish possibility has been in place before the Greenback itself started to experience the current exponential weakness.
EUR/JPY: The situation on the cross is tricky right now: for neither the bull nor the bear can claim a victory at the moment. This is because the EUR has suddenly become strong, just as the JPY is. The market is in a kind of equilibrium zone, and one would need to wait for a bullish or bearish bias to be ascertained before opening a position.
The material has been provided by InstaForex Company – www.instaforex.com
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