EURUSD: The bias on this pair is bullish: there is a Bullish Confirmation Pattern on the chart. The Williams’ % Range is in the overbought region. The next target to be violated to the upside is the resistance line at 1.3100. After this, the price could journey towards the resistance line at 1.3150.
USDCHF: Since there has been a bearish signal on this market (from the middle of the last week), it has fallen by roughly 200 pips. There is a Bearish Confirmation Pattern on the chart. The EMA 11 is below the EMA 56, and the price is below them. The market would continue to show weakness, and it has the potential of reaching the support line at 0.9400.
GBPUSD: The cable is a strong instrument right now – having gone upwards by more than 130 pips this week. There is already a Bullish Confirmation Pattern on the chart – the RSI period 14 is above the level 50. The cable is above the accumulation territory of 1.5300, so the distribution territory at 1.5400 is not a far-fetched aim.
USDJPY: Last week, a warning of the weakness of the USDJPY pair was given (including potential weakness on most JPY pairs). The pair is so weak that it has broken the psychological level at 100.00 to the downside, going further south. What was once so difficult to breach to the upside has now been breached to the downside with ease. This is a truly bearish market and it is sensible to seek short-trades only.
EURJPY: In conjunction with most JPY pairs, this cross is understandably weak. Elsewhere EUR is a strong match, but here (on the EURJPY pair), it is a weak match. There is a great amount of activity around the price level at 130.00, and it is probable that the price could retest the demand zone at 129.50.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: The bias on this pair is bullish: there is a Bullish Confirmation Pattern on the chart. The Williams’ % Range is in the overbought region. The next target to be violated to the upside is the resistance line at 1.3100. After this, the price could journey towards the resistance line at 1.3150.
USDCHF: Since there has been a bearish signal on this market (from the middle of the last week), it has fallen by roughly 200 pips. There is a Bearish Confirmation Pattern on the chart. The EMA 11 is below the EMA 56, and the price is below them. The market would continue to show weakness, and it has the potential of reaching the support line at 0.9400.
GBPUSD: The cable is a strong instrument right now – having gone upwards by more than 130 pips this week. There is already a Bullish Confirmation Pattern on the chart – the RSI period 14 is above the level 50. The cable is above the accumulation territory of 1.5300, so the distribution territory at 1.5400 is not a far-fetched aim.
USDJPY: Last week, a warning of the weakness of the USDJPY pair was given (including potential weakness on most JPY pairs). The pair is so weak that it has broken the psychological level at 100.00 to the downside, going further south. What was once so difficult to breach to the upside has now been breached to the downside with ease. This is a truly bearish market and it is sensible to seek short-trades only.
EURJPY: In conjunction with most JPY pairs, this cross is understandably weak. Elsewhere EUR is a strong match, but here (on the EURJPY pair), it is a weak match. There is a great amount of activity around the price level at 130.00, and it is probable that the price could retest the demand zone at 129.50.
The material has been provided by InstaForex Company – www.instaforex.com
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