EURUSD: No matter what happens on this pair, the major outlook is bearish. The price has dropped by over 250 pips this week, and it would drop further in the trading days to come. There has been a bounce off the resistance line of 1.2750, which proffers a new short opportunity. This is because the price would still test the aforementioned resistance line.
USDCHF: In a direct opposite manner to the EURUSD pair, the USDCHF pair is in a bullish mode. The market has risen by over 150 pips this week, and this would continue more (in a slow and steady manner). The next market level that is being besieged is 0.9550, and after this is breached to the upside, the price would go for the resistance level at 0.9600.
GBPUSD: The condition on the GBPUSD remains unclear, though the recent and major outlook is to the upside. There are mixed signals on the chart (the RSI period 14 has crossed the level 50 to the downside, but the EMAs are yet to follow suit). The best thing to do now is to wait for what the market would eventually confirm before taking any position.
USDJPY: It has already been forecasted that the major outlook on this pair is bearish. It just happens that any rally in the current scenario would invariably give another opportunity to go short. Right now, the price is below the market level of 94.50, and would later reach the demand level at 94.00.
EURJPY: The Bearish Confirmation Pattern on the chart is very strong. There is a serious struggle between the bull and the bear, but the bear shows more stamina than the bull at the moment. The EURJPY pair has dropped by over 300 pips this week, and the price, which is currently above the demand zone at 120.00, would soon fall further to test it again.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: No matter what happens on this pair, the major outlook is bearish. The price has dropped by over 250 pips this week, and it would drop further in the trading days to come. There has been a bounce off the resistance line of 1.2750, which proffers a new short opportunity. This is because the price would still test the aforementioned resistance line.
USDCHF: In a direct opposite manner to the EURUSD pair, the USDCHF pair is in a bullish mode. The market has risen by over 150 pips this week, and this would continue more (in a slow and steady manner). The next market level that is being besieged is 0.9550, and after this is breached to the upside, the price would go for the resistance level at 0.9600.
GBPUSD: The condition on the GBPUSD remains unclear, though the recent and major outlook is to the upside. There are mixed signals on the chart (the RSI period 14 has crossed the level 50 to the downside, but the EMAs are yet to follow suit). The best thing to do now is to wait for what the market would eventually confirm before taking any position.
USDJPY: It has already been forecasted that the major outlook on this pair is bearish. It just happens that any rally in the current scenario would invariably give another opportunity to go short. Right now, the price is below the market level of 94.50, and would later reach the demand level at 94.00.
EURJPY: The Bearish Confirmation Pattern on the chart is very strong. There is a serious struggle between the bull and the bear, but the bear shows more stamina than the bull at the moment. The EURJPY pair has dropped by over 300 pips this week, and the price, which is currently above the demand zone at 120.00, would soon fall further to test it again.
The material has been provided by InstaForex Company – www.instaforex.com
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