EUR/USD: The EUR/USD moved in a range at the beginning of the last week, and then it rose up weakly before it got suddenly weakened. The price plummeted and breached the market line at 1.3000 to the downside, closing at 1.2989. There is now a Bearish Confirmation pattern in the market, and the price would continue going downwards this week.
USD/CHF: The USD/CHF moved upwards by roughly 250 pips last week, thereby causing a vivid Bullish Confirmation bias in the market. The resistance level at 0.9600 is already facing attacks. This level must be breached to the upside before further bullish run could be realized.
GBP/USD: This pair has eventually given way to gravity, nose-diving precipitously towards the close of the market. The bulls have been whacked, as the price dropped by almost 250 pips last week. The indicators in the chart now support a southward outlook, and the price would reach the accumulation territory of 1.5300.
USD/JPY: The USD/JPY has achieved the seemingly inevitable by breaking the great supply level at 100.00 to the upside. The market even moved upwards by more than 150 pips after achieving this. This shows that no supply level or demand level is too big to be broken when the market is in a strong trending mode. The pair is expected to continue moving upwards this week.
EUR/JPY: The supply zone of 132.00 is under a serious assault. It would not be a surprise, should the zone be violated even before this article is published. The bias has always been bullish, despite the recent consolidation of the price. The next target could be the supply zone at 133.00.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: The EUR/USD moved in a range at the beginning of the last week, and then it rose up weakly before it got suddenly weakened. The price plummeted and breached the market line at 1.3000 to the downside, closing at 1.2989. There is now a Bearish Confirmation pattern in the market, and the price would continue going downwards this week.
USD/CHF: The USD/CHF moved upwards by roughly 250 pips last week, thereby causing a vivid Bullish Confirmation bias in the market. The resistance level at 0.9600 is already facing attacks. This level must be breached to the upside before further bullish run could be realized.
GBP/USD: This pair has eventually given way to gravity, nose-diving precipitously towards the close of the market. The bulls have been whacked, as the price dropped by almost 250 pips last week. The indicators in the chart now support a southward outlook, and the price would reach the accumulation territory of 1.5300.
USD/JPY: The USD/JPY has achieved the seemingly inevitable by breaking the great supply level at 100.00 to the upside. The market even moved upwards by more than 150 pips after achieving this. This shows that no supply level or demand level is too big to be broken when the market is in a strong trending mode. The pair is expected to continue moving upwards this week.
EUR/JPY: The supply zone of 132.00 is under a serious assault. It would not be a surprise, should the zone be violated even before this article is published. The bias has always been bullish, despite the recent consolidation of the price. The next target could be the supply zone at 133.00.
The material has been provided by InstaForex Company – www.instaforex.com
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