EUR/USD: In spite of what is happing in the eurozone, this pair has been able to shrug off its bearish pull. In tandem with some other currency instruments, the pair is poised for a long-term recovery journey to the upside. But I would wait for the EMA 11 to cross above the EMA 56 before I take any trade on the pair. I need further confirmation.
USD/CHF: There is a bearish signal on this pair – coming with a clear Bearish Confirmation pattern in the chart. It could be seen that, recently, the price was not able to trade higher than the resistance level at 0.9550, and has been consolidating since then. Now that there is a signal to go short, it makes much sense to go short right now.
GBP/USD: The Cable, again and again, has been able to reject any further bearish threat. This pair is poised to continue to trade higher. It rose by over 150 pips last week, plus the price action still supports further bullish push. Even any bearish corrections are not supposed to take the price below the accumulation zone of 1.5100.
USD/JPY: There is also an indication to sell short on the USD/JPY. The price is below the EMA 56 and the RSI period 14 has gone below the 50 level. It is possible that the price would soon break the demand level at 94.00 to the downside.
EUR/JPY: The bears hold sway on this pair as well. Irrespective of the recent turbulence and volatility, it is not adviseable to go long yet. The indicators in the chart still support a southward possibility, but there is a need for the price to cross the demand zone at 122.00 to the downside and trade further downwards before this scenario can be confirmed.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: In spite of what is happing in the eurozone, this pair has been able to shrug off its bearish pull. In tandem with some other currency instruments, the pair is poised for a long-term recovery journey to the upside. But I would wait for the EMA 11 to cross above the EMA 56 before I take any trade on the pair. I need further confirmation.
USD/CHF: There is a bearish signal on this pair – coming with a clear Bearish Confirmation pattern in the chart. It could be seen that, recently, the price was not able to trade higher than the resistance level at 0.9550, and has been consolidating since then. Now that there is a signal to go short, it makes much sense to go short right now.
GBP/USD: The Cable, again and again, has been able to reject any further bearish threat. This pair is poised to continue to trade higher. It rose by over 150 pips last week, plus the price action still supports further bullish push. Even any bearish corrections are not supposed to take the price below the accumulation zone of 1.5100.
USD/JPY: There is also an indication to sell short on the USD/JPY. The price is below the EMA 56 and the RSI period 14 has gone below the 50 level. It is possible that the price would soon break the demand level at 94.00 to the downside.
EUR/JPY: The bears hold sway on this pair as well. Irrespective of the recent turbulence and volatility, it is not adviseable to go long yet. The indicators in the chart still support a southward possibility, but there is a need for the price to cross the demand zone at 122.00 to the downside and trade further downwards before this scenario can be confirmed.
The material has been provided by InstaForex Company – www.instaforex.com
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