EUR/USD: The significant bullish reversal that started on this pair culminated in a northward bias last week. And, in spite of the sideways movement with which the market is currently characterized, the northward bias is valid. The price could reach the resistance line of 1.3200 this week.
USD/CHF: USD/CHF also was able to trend downwards severely – something that ended in a Bearish Confirmation pattern last week. The market traded a kind of sideways since then, though the new signal is still correct. It is likely that the market reaches the support level of 0.9300 this week.
GBP/USD: After some weeks of being battered by the bear, the Cable was able to shrug off further bearish pulls, trended upwards determinedly and later resulted in a clean bullish signal. It can be said that the optimism has already returned back to the market, despite the present equilibrium phase.
USD/JPY: In the beginning of the last week, USD/JPY first traded in a sideways manner, and it then nosedived and formed a Bearish indication. Since then, the price has stayed below the EMA 56 and the RSI period 14 has stayed below the 50 level. So, the price could still go further downwards.
EUR/JPY: This cross remains in its indecisive situation – for there is no clear signal in the market yet. There is currently no victory between the buyers and the sellers. Apart from the foregoing fact, the price is volatile. So, it is better to wait for either a confirmed sell signal or a confirmed buy signal before one takes a position.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: The significant bullish reversal that started on this pair culminated in a northward bias last week. And, in spite of the sideways movement with which the market is currently characterized, the northward bias is valid. The price could reach the resistance line of 1.3200 this week.
USD/CHF: USD/CHF also was able to trend downwards severely – something that ended in a Bearish Confirmation pattern last week. The market traded a kind of sideways since then, though the new signal is still correct. It is likely that the market reaches the support level of 0.9300 this week.
GBP/USD: After some weeks of being battered by the bear, the Cable was able to shrug off further bearish pulls, trended upwards determinedly and later resulted in a clean bullish signal. It can be said that the optimism has already returned back to the market, despite the present equilibrium phase.
USD/JPY: In the beginning of the last week, USD/JPY first traded in a sideways manner, and it then nosedived and formed a Bearish indication. Since then, the price has stayed below the EMA 56 and the RSI period 14 has stayed below the 50 level. So, the price could still go further downwards.
EUR/JPY: This cross remains in its indecisive situation – for there is no clear signal in the market yet. There is currently no victory between the buyers and the sellers. Apart from the foregoing fact, the price is volatile. So, it is better to wait for either a confirmed sell signal or a confirmed buy signal before one takes a position.
The material has been provided by InstaForex Company – www.instaforex.com
Related Posts: