EUR/USD: This is a bullish market – there is a bullish trend in the chart. The market moved upwards recently and it is expected that it would continue to be so. The resistance line at 1.3400 is a target that should be reached very soon, albeit there may be some transient pullback toward the support line at 1.3300.
USD/CHF: This is a bearish market, for the bias here is towards the south. The market closed at 0.9207 on Friday, and this week the price is expected to trade below the low of the last 5 trading days. Meanwhile, a possible short-term rally ought to be curtailed at the resistance level of 0.9300.
GBP/USD: The cable is now a strong trading instrument, given the recent strong northward bias in the market (there is a Bullish Confirmation pattern in the chart) as supported by the indicators. On Friday, the price closed at 1.5715, and it is supposed to reach the distribution territory of 1.5800 this week.
USD/JPY: Here, the price is almost touching the demand level of 94.00, which was tested a few times last week. That demand level would be eventually violated to the downside, as more and more selling pressure is shown. Logically, should the bearish pressure continue, the price may reach the demand level of 93.00.
EUR/JPY: The near-term target on the EUR/JPY is at 125.00; a demand zone which would be easily breached to the downside, should the current weakness in the market drag on long enough. There is a vivid shorting opportunity in the market, as confirmed by price action and the indicators.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: This is a bullish market – there is a bullish trend in the chart. The market moved upwards recently and it is expected that it would continue to be so. The resistance line at 1.3400 is a target that should be reached very soon, albeit there may be some transient pullback toward the support line at 1.3300.
USD/CHF: This is a bearish market, for the bias here is towards the south. The market closed at 0.9207 on Friday, and this week the price is expected to trade below the low of the last 5 trading days. Meanwhile, a possible short-term rally ought to be curtailed at the resistance level of 0.9300.
GBP/USD: The cable is now a strong trading instrument, given the recent strong northward bias in the market (there is a Bullish Confirmation pattern in the chart) as supported by the indicators. On Friday, the price closed at 1.5715, and it is supposed to reach the distribution territory of 1.5800 this week.
USD/JPY: Here, the price is almost touching the demand level of 94.00, which was tested a few times last week. That demand level would be eventually violated to the downside, as more and more selling pressure is shown. Logically, should the bearish pressure continue, the price may reach the demand level of 93.00.
EUR/JPY: The near-term target on the EUR/JPY is at 125.00; a demand zone which would be easily breached to the downside, should the current weakness in the market drag on long enough. There is a vivid shorting opportunity in the market, as confirmed by price action and the indicators.
The material has been provided by InstaForex Company – www.instaforex.com
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