EUR/USD: EUR/USD has been weak, and the fundamentals have aided this weakness. The pair recently dropped by over 170 pips, closing at 1.3830. This week, it is possible that the pair would reach the support line at 1.3750, since there is still a vivid Bearish Confirmation pattern in the chart.
USD/CHF: It can be seen that the latest bearish threats on this pair has been shrugged off easily, as the price continues trending upwards in an easy and predictable manner. It rose by roughly 190 pips last week (trending faster than EUR/USD in what seems to be a rare occurrence). The trend would continue.
GBP/USD: Any hope of going long on GBP/USD cannot be realized right now, for this pair is very weak. Long trades should not be opened until there is a confirmed bullish signal on the chart. The market plummeted by over 300 pips last week; closing at 1.4886. The southward bias should continue.
USD/JPY: The strong USD/JPY has maintained its strength in the face of the buying pressure in the market. Yes, the bulls reign here: the price rose to 190 pips last week, closing at 101.18 on Friday (July 5, 2013). The next target to be reached is the supply level at 102.00.
EUR/JPY: This trading instrument is supposed to be weak (for the EUR currently lacks stamina), but all JPY pairs tend to be positively correlated. So, should the JPY pairs go down this week, EUR/JPY would go down too. Should the JPY pairs go up this week, EUR/JPY would follow.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: EUR/USD has been weak, and the fundamentals have aided this weakness. The pair recently dropped by over 170 pips, closing at 1.3830. This week, it is possible that the pair would reach the support line at 1.3750, since there is still a vivid Bearish Confirmation pattern in the chart.
USD/CHF: It can be seen that the latest bearish threats on this pair has been shrugged off easily, as the price continues trending upwards in an easy and predictable manner. It rose by roughly 190 pips last week (trending faster than EUR/USD in what seems to be a rare occurrence). The trend would continue.
GBP/USD: Any hope of going long on GBP/USD cannot be realized right now, for this pair is very weak. Long trades should not be opened until there is a confirmed bullish signal on the chart. The market plummeted by over 300 pips last week; closing at 1.4886. The southward bias should continue.
USD/JPY: The strong USD/JPY has maintained its strength in the face of the buying pressure in the market. Yes, the bulls reign here: the price rose to 190 pips last week, closing at 101.18 on Friday (July 5, 2013). The next target to be reached is the supply level at 102.00.
EUR/JPY: This trading instrument is supposed to be weak (for the EUR currently lacks stamina), but all JPY pairs tend to be positively correlated. So, should the JPY pairs go down this week, EUR/JPY would go down too. Should the JPY pairs go up this week, EUR/JPY would follow.
The material has been provided by InstaForex Company – www.instaforex.com
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