EUR/USD: This pair still besieges the price line of 1.3300, even in the face of the current consolidation to the downside (which is essentially negligible right now). It is likely that the pair would continue going northwards, and should that prove to be true, the current consolidation to the downside would be a good long entry.
USD/CHF: USD/CHF is in the midst of a minor retracement to the upside, in the context of a downtrend. The support level at 0.9200 is the short-term target for today and/or tomorrow, should the pair continue its weakness. For this expectation to prove valid, the current bullish retracement ought not to go above the resistance level of 0.9400.
GBP/USD: This currency instrument is also in an overall bullish mode. Although the price has come down by around 50 pips since the beginning of this trading week, it is not advisable to open short trades now, for the EMAs are yet to support any short trades (apart from what the RSI period 14 signifies).
USD/JPY: This pair, which experienced a significant bearish bias last week, has been finding it difficult to go further downwards since the beginning of this week. However, the bearish possibility is still very strong, and it could happen that the current minor bullish correction would be short-lived.
EUR/JPY: Right now, the cross, which still has a nice bearish indication on it, is a kind of experiencing a bullish correction. The bullish correction is deemed weak and ought not to go above the supply zone of 131.00. The ultimate target for today and/or tomorrow is the demand zone of 129.00.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: This pair still besieges the price line of 1.3300, even in the face of the current consolidation to the downside (which is essentially negligible right now). It is likely that the pair would continue going northwards, and should that prove to be true, the current consolidation to the downside would be a good long entry.
USD/CHF: USD/CHF is in the midst of a minor retracement to the upside, in the context of a downtrend. The support level at 0.9200 is the short-term target for today and/or tomorrow, should the pair continue its weakness. For this expectation to prove valid, the current bullish retracement ought not to go above the resistance level of 0.9400.
GBP/USD: This currency instrument is also in an overall bullish mode. Although the price has come down by around 50 pips since the beginning of this trading week, it is not advisable to open short trades now, for the EMAs are yet to support any short trades (apart from what the RSI period 14 signifies).
USD/JPY: This pair, which experienced a significant bearish bias last week, has been finding it difficult to go further downwards since the beginning of this week. However, the bearish possibility is still very strong, and it could happen that the current minor bullish correction would be short-lived.
EUR/JPY: Right now, the cross, which still has a nice bearish indication on it, is a kind of experiencing a bullish correction. The bullish correction is deemed weak and ought not to go above the supply zone of 131.00. The ultimate target for today and/or tomorrow is the demand zone of 129.00.
The material has been provided by InstaForex Company – www.instaforex.com
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