EURUSD: Throughout this week, this pair has been edging upwards, but the dominant bias is still bearish. Only a situation in which the price goes above the resistance line of 1.3500 would render the bearish bias useless. Should that happen, the price itself would be trading above the EMA 56. But now, the bias is bearish and the price could nosedive from here.
USDCHF: Throughout this week, this pair has been edging downwards, but the dominant bias is still bullish. Only a situation in which the price goes below the support line of 0.9100 would render the bullish bias useless. Should that happen, the price itself would be trading below the EMA 56. But now, the bias is bullish and the price could rise from here.
GBPUSD: This currency instrument is going upwards, having bounced upwards from the accumulation territory of 1.5900 (from below it to be precise). The price has gone upwards by more than 200 pips since then, now challenging the distribution territory of 1.6100. That distribution territory, which has already been tested, would eventually be breached to the upside.
USDJPY: The USDJPY has been going upwards for most of this week. The upward surge has led to a Bullish Confirmation Pattern on the chart and the price is currently trading above the great psychological level of 100.00. From there, it may move to the supply level of 100.50.
EURJPY: From the demand zone of 131.50, EURJPY has moved upwards by more than 320 pips. The price is now targeting the supply zone of 135.00. The bulls should be doing wonderfully right now.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: Throughout this week, this pair has been edging upwards, but the dominant bias is still bearish. Only a situation in which the price goes above the resistance line of 1.3500 would render the bearish bias useless. Should that happen, the price itself would be trading above the EMA 56. But now, the bias is bearish and the price could nosedive from here.
USDCHF: Throughout this week, this pair has been edging downwards, but the dominant bias is still bullish. Only a situation in which the price goes below the support line of 0.9100 would render the bullish bias useless. Should that happen, the price itself would be trading below the EMA 56. But now, the bias is bullish and the price could rise from here.
GBPUSD: This currency instrument is going upwards, having bounced upwards from the accumulation territory of 1.5900 (from below it to be precise). The price has gone upwards by more than 200 pips since then, now challenging the distribution territory of 1.6100. That distribution territory, which has already been tested, would eventually be breached to the upside.
USDJPY: The USDJPY has been going upwards for most of this week. The upward surge has led to a Bullish Confirmation Pattern on the chart and the price is currently trading above the great psychological level of 100.00. From there, it may move to the supply level of 100.50.
EURJPY: From the demand zone of 131.50, EURJPY has moved upwards by more than 320 pips. The price is now targeting the supply zone of 135.00. The bulls should be doing wonderfully right now.
The material has been provided by InstaForex Company – www.instaforex.com
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