EURUSD: This pair is currently experiencing some southward correction which is not expected to go below the support line at 1.3200 (in a worst-case scenario). Any move below that support line would render the bullish bias invalid, but as long as the price is above it, the condition in the market can be turned bullish.
USDCHF: USDCHF appears indecisive as it tries to break the EMA 56 upwards. Generally, the outlook on the market is bearish, provided that the price itself does not go towards the resistance level of 0.9400. Inevitably, any short-term development in the market would leave a trail for it to become intense.
GBPUSD: This currency instrument once traded above the distribution territory of 1.5800, but it is now trading below it, following a correction in the market. There is a long-term barrier to the bearish interest at the accumulation territory of 1.5700, and as a result of this, the price may rally again and end up trading above the distribution territory of 1.5800.
USDJPY: The USDJPY is making an attempt to test the great supply level at 100.00, which may possibly be breached to the upside, should the northward bias become significant again. Stop loss placement is recommended at the demand level of 99.00.
EURJPY: This is a bull market, though the recent pullback was noteworthy enough to cause some concern. The EMA56 has done a good job in acting as a check to the pullback. The price, thus, bounced upwards from the EMA and has been trending northwards. The supply zone could be, thus, tested again.
The material has been provided by InstaForex Company – www.instaforex.com
EURUSD: This pair is currently experiencing some southward correction which is not expected to go below the support line at 1.3200 (in a worst-case scenario). Any move below that support line would render the bullish bias invalid, but as long as the price is above it, the condition in the market can be turned bullish.
USDCHF: USDCHF appears indecisive as it tries to break the EMA 56 upwards. Generally, the outlook on the market is bearish, provided that the price itself does not go towards the resistance level of 0.9400. Inevitably, any short-term development in the market would leave a trail for it to become intense.
GBPUSD: This currency instrument once traded above the distribution territory of 1.5800, but it is now trading below it, following a correction in the market. There is a long-term barrier to the bearish interest at the accumulation territory of 1.5700, and as a result of this, the price may rally again and end up trading above the distribution territory of 1.5800.
USDJPY: The USDJPY is making an attempt to test the great supply level at 100.00, which may possibly be breached to the upside, should the northward bias become significant again. Stop loss placement is recommended at the demand level of 99.00.
EURJPY: This is a bull market, though the recent pullback was noteworthy enough to cause some concern. The EMA56 has done a good job in acting as a check to the pullback. The price, thus, bounced upwards from the EMA and has been trending northwards. The supply zone could be, thus, tested again.
The material has been provided by InstaForex Company – www.instaforex.com
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