EURUSD: The trend is bearish and the pair would continue to drop, but this would not come without some short-term rallies on the market. The indicators currently support a downside bias. The price is now below the resistance line of 1.2850 and would eventually plunge towards the support line at 1.2750.
USDCHF: This tardy pair has been bullish this week. The EMA 11 is above the EMA 56: any short-term bearish corrections would simply give good opportunities to go long. In a recent example, the bearish correction that happened on Thursday was a good long signal: the price could rise towards the resistance level at 0.9550.
GBPUSD: It was mentioned that one needed to wait for the next directional confirmation before one entered an order on the cable. The cable trended upwards on Thursday, and right now, there is a Bullish Confirmation Pattern on the chart. The indicators (the EMAs and the RSI period 14) support this. This is a long signal.
USDJPY: There may not be much activity on USDJPY today – for the pair has moved largely in a sideways manner. Overall, the bias on the market is to the downside, as supported by the technical indicators on the chart. The price would ultimately breach the market level at 94.00 to the downside and go towards the demand level at 93.50.
EURJPY: This week, the cross has trended in a significant downwards manner; going down by more than 300 pips. There is still much room for the price to go further downwards, since there is a Bearish Confirmation Pattern on the chart. The demand zone at 120.00 would be tested again, and could possibly be breached to the downside.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: The trend is bearish and the pair would continue to drop, but this would not come without some short-term rallies on the market. The indicators currently support a downside bias. The price is now below the resistance line of 1.2850 and would eventually plunge towards the support line at 1.2750.
USDCHF: This tardy pair has been bullish this week. The EMA 11 is above the EMA 56: any short-term bearish corrections would simply give good opportunities to go long. In a recent example, the bearish correction that happened on Thursday was a good long signal: the price could rise towards the resistance level at 0.9550.
GBPUSD: It was mentioned that one needed to wait for the next directional confirmation before one entered an order on the cable. The cable trended upwards on Thursday, and right now, there is a Bullish Confirmation Pattern on the chart. The indicators (the EMAs and the RSI period 14) support this. This is a long signal.
USDJPY: There may not be much activity on USDJPY today – for the pair has moved largely in a sideways manner. Overall, the bias on the market is to the downside, as supported by the technical indicators on the chart. The price would ultimately breach the market level at 94.00 to the downside and go towards the demand level at 93.50.
EURJPY: This week, the cross has trended in a significant downwards manner; going down by more than 300 pips. There is still much room for the price to go further downwards, since there is a Bearish Confirmation Pattern on the chart. The demand zone at 120.00 would be tested again, and could possibly be breached to the downside.
The material has been provided by InstaForex Company – www.instaforex.com
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