EUR/USD: EUR/USD has resumed its bullish trend following the recent indecision and consolidation in the market. The price is approaching the resistance line of 1.3600, which would eventually be breached to the upside. The bullish confirmation pattern on the chart supports this outlook.
USD/CHF: The USDCHF pair has resumed its bearish movement following the recent indecision and consolidation in the market. The price is approaching the support level of 0.9050, which would eventually be breached to the downside. The bearish confirmation pattern, observed on the chart, supports this outlook.
GBP/USD: The Cable is mirrors the EUR/USD movement, maintaining the bullish bias. The only difference is that the volatility and the price movements are larger. The price dipped by over 90 pips earlier this week, but the dip was halted at the accumulation territory of 1.6150, and the price has turned upwards from there. It is now approaching the distribution area of 1.6250, which is the target for today or tomorrow.
USD/JPY: Here, the price is above the EMA 56 and the RSI period 14 is above the level 50. The price has been corrected lower since Monday, but now, it is rallying in tandem with the dominant bias.
EUR/JPY: This cross is also bullish, although it moved sideways on Monday or Tuesday. The price area of 138.00 is currently under siege, and as the bullish pressure continues, the price zone may be left behind as the price goes upwards.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: EUR/USD has resumed its bullish trend following the recent indecision and consolidation in the market. The price is approaching the resistance line of 1.3600, which would eventually be breached to the upside. The bullish confirmation pattern on the chart supports this outlook.
USD/CHF: The USDCHF pair has resumed its bearish movement following the recent indecision and consolidation in the market. The price is approaching the support level of 0.9050, which would eventually be breached to the downside. The bearish confirmation pattern, observed on the chart, supports this outlook.
GBP/USD: The Cable is mirrors the EUR/USD movement, maintaining the bullish bias. The only difference is that the volatility and the price movements are larger. The price dipped by over 90 pips earlier this week, but the dip was halted at the accumulation territory of 1.6150, and the price has turned upwards from there. It is now approaching the distribution area of 1.6250, which is the target for today or tomorrow.
USD/JPY: Here, the price is above the EMA 56 and the RSI period 14 is above the level 50. The price has been corrected lower since Monday, but now, it is rallying in tandem with the dominant bias.
EUR/JPY: This cross is also bullish, although it moved sideways on Monday or Tuesday. The price area of 138.00 is currently under siege, and as the bullish pressure continues, the price zone may be left behind as the price goes upwards.
The material has been provided by InstaForex Company – www.instaforex.com
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