EURUSD: This pairs has been trending in a predictable manner so far. Traders would therefore do well to continue looking towards the north, for there is still much optimism surrounding the euro. This is a bull market, and the price could reach the resistance line at 1.3400 very soon.
USDCHF: Since the model, that is used for this analysis, generated a ‘sell’ signal a few weeks ago, the USDCHF pair has gone downwards by more than 430 pips. Whenever there is a rally, it would be weak in nature – proffering a great short-selling opportunity. So short trades are still preferred here.
GBPUSD: The optimism around the cable has pushed it upwards by more than 500 pips so far in this month. This northward bias is extant and it is expected to continue. The price territory at 1.5700 is really being besieged, and it has the potential of being breached to the upside sooner or later.
USDJPY: This is a weak market, and it is not going to go up. The EMA 56 has the price far below it and the RSI period 14 is below the level 50, far below. In fact, the RSI is in an oversold situation. Any rally, whatever in the market, would only give an opportunity to sell a rally in a downtrend.
EURJPY: There is still a significant Bearish Confirmation Pattern on this cross, as the price broke below the last week’s low, i.e. 126.17. As this article is being prepared, the EURJPY pair is trading below the supply zone of 126.00. The next target to be reached is the demand zone of 125.50 (which is an easy target).
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: This pairs has been trending in a predictable manner so far. Traders would therefore do well to continue looking towards the north, for there is still much optimism surrounding the euro. This is a bull market, and the price could reach the resistance line at 1.3400 very soon.
USDCHF: Since the model, that is used for this analysis, generated a ‘sell’ signal a few weeks ago, the USDCHF pair has gone downwards by more than 430 pips. Whenever there is a rally, it would be weak in nature – proffering a great short-selling opportunity. So short trades are still preferred here.
GBPUSD: The optimism around the cable has pushed it upwards by more than 500 pips so far in this month. This northward bias is extant and it is expected to continue. The price territory at 1.5700 is really being besieged, and it has the potential of being breached to the upside sooner or later.
USDJPY: This is a weak market, and it is not going to go up. The EMA 56 has the price far below it and the RSI period 14 is below the level 50, far below. In fact, the RSI is in an oversold situation. Any rally, whatever in the market, would only give an opportunity to sell a rally in a downtrend.
EURJPY: There is still a significant Bearish Confirmation Pattern on this cross, as the price broke below the last week’s low, i.e. 126.17. As this article is being prepared, the EURJPY pair is trading below the supply zone of 126.00. The next target to be reached is the demand zone of 125.50 (which is an easy target).
The material has been provided by InstaForex Company – www.instaforex.com
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