EUR/USD: There has been an upward reversal on this pair, though in a context of a downtrend. In spite of this upward reversal, the bearish signal is still valid. The only scenario that could make it invalid is when the price goes above the resistance line of 1.3100. Until then, a bearish stance is assumed.
USD/CHF: In the opposite direction to the EUR/USD, this pair has been moving. It can bee seen (on the chart), that the upward possibility in the market is still valid irrespective of the extant equilibrium phase. It is also obvious the pair has refused any bearish pull on it. Thus, the resistance level at 0.9500 could still be tested.
GBP/USD: It is a surprise that the optimism that does surround the Cable has failed to help it assume a significant bullish bias. The Bank of England has a new governor, Mark Carney by name (the first non-British to assume that post). Carney has had impressive records in the past and it is thought that his assumption of office could help the Cable have some new lease of energy. However, the current bias is bearish.
USD/JPY: This is a bull market, and as it is said in the introduction to today’s forecasts, the currency instrument is approaching a significant supply level – which is the level at 100.00. This has the potential to cause a short-term or significant setback in the current bullish bias.
EUR/JPY: This instrument is also approaching a major supply zone at 131.00. It is unlikely that it would find it easy to break that zone to the upside, but it is likely for the price to test that zone today, for the bulls still reign here.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: There has been an upward reversal on this pair, though in a context of a downtrend. In spite of this upward reversal, the bearish signal is still valid. The only scenario that could make it invalid is when the price goes above the resistance line of 1.3100. Until then, a bearish stance is assumed.
USD/CHF: In the opposite direction to the EUR/USD, this pair has been moving. It can bee seen (on the chart), that the upward possibility in the market is still valid irrespective of the extant equilibrium phase. It is also obvious the pair has refused any bearish pull on it. Thus, the resistance level at 0.9500 could still be tested.
GBP/USD: It is a surprise that the optimism that does surround the Cable has failed to help it assume a significant bullish bias. The Bank of England has a new governor, Mark Carney by name (the first non-British to assume that post). Carney has had impressive records in the past and it is thought that his assumption of office could help the Cable have some new lease of energy. However, the current bias is bearish.
USD/JPY: This is a bull market, and as it is said in the introduction to today’s forecasts, the currency instrument is approaching a significant supply level – which is the level at 100.00. This has the potential to cause a short-term or significant setback in the current bullish bias.
EUR/JPY: This instrument is also approaching a major supply zone at 131.00. It is unlikely that it would find it easy to break that zone to the upside, but it is likely for the price to test that zone today, for the bulls still reign here.
The material has been provided by InstaForex Company – www.instaforex.com
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