Instaforex Trading Forecasts

The USD/CHF went upwards on Monday – in the contest of a downtrend. Price is now close to the resistance level at 1.0000, which is an important level. A movement above that resistance level would threaten the existing bearish bias, while a movement above another resistance level at 1.0100 would result in a bullish outlook.

EUR/USD: The EUR/USD moved south on Monday, while the bias on the market remains bullish. A movement below the support lines at 1.0850, 1.0800 and 1.0750 would result in a bearish signal, while a rally from this point would serve to strengthen the existing bullish bias.

USD/CHF: The USD/CHF went upwards on Monday – in the contest of a downtrend. Price is now close to the resistance level at 1.0000, which is an important level. A movement above that resistance level would threaten the existing bearish bias, while a movement above another resistance level at 1.0100 would result in a bullish outlook. It has been forecasted that the USD would gain some strength this week, and this has started happening sooner.

GBP/USD: The Cable consolidated on May 8, 2017. There is a huge Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is possible this week, which would take price towards the distribution territories at 1.3000, 1.3050 and 1.3100. The outlook on the market remains bullish for the week.

USD/JPY: The USD/JPY went upwards yesterday, now above the demand level at 113.00. Price is now targeting the supply level at 113.50, and it may reach another supply level at 114.00. Further bullish effort may be witnessed before a major pullback overrides the medium-term bearishness in the market.

EUR/JPY: This cross pair is in a bullish mode. Price went upwards last week, and there is a possibility that price would go further north this week. There would be some pullbacks along the way, which are expected to be transitory. Only a pullback of about 300 pips could threaten the current bullish outlook.

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The Cable consolidated throughout last week in the context of an uptrend. Price tested the accumulation territory at 1.2850, but closed above it. A closer look at the market reveals that the uptrend is getting tired, thereby increasing chances of a large pullback, which could happen this week. A movement below the accumulation territory at 1.2800 would result in a bearish bias.

EUR/USD: The EUR/USD did not move significantly last week. The support line at 1.0850 has been tested, as price closed above the support line at 1.0900 on Friday. A movement above the resistance line at 1.1000 would strengthen the existing bullish bias, while a movement below the support line at 1.0700 would result in a clean bearish signal.

USD/CHF: This currency trading instrument went upwards by 230 pips last week, almost testing the resistance level at 1.0100, before the pullback that was witnessed on Friday. The initial bullish movement of the last few days of the week undermined the recent bearish outlook on the market; whereas the pullback that was witnessed on Friday scuttled the bullish effort of the week. There ought to be a directional movement of at last, 200 pips to the upside or downside before a directional bias can be formed. Right now, the bias is neutral in the short-term.

GBP/USD: The Cable consolidated throughout last week in the context of an uptrend. Price tested the accumulation territory at 1.2850, but closed above it. A closer look at the market reveals that the uptrend is getting tired, thereby increasing chances of a large pullback, which could happen this week. A movement below the accumulation territory at 1.2800 would result in a bearish bias.

USD/JPY: This pair went upwards by 160 pips last week, going briefly above the supply level at 114.00, and then coming down by 80 pips. Price closed below the supply level at 113.50 on Friday, moving close to the demand level at 113.00. The supply levels at 113.50, 114.00 and 114.50, could be reached this week, as price turns to rally again. Otherwise, a strong pullback would be witnessed.

EUR/JPY: In the context of a downtrend, price moved generally between the demand zone at 123.00 and the supply zone at 124.50. The market went sideways last week, and further sideways movement would result in a short-term neutral outlook. A rise in momentum is also a possibility this week, which may propel price further north (to lay emphasis on the recent bullish outlook), or propel price southwards, to create a bearish signal.

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The USD/CHF has almost generated a bearish signal in the 4-hour chart. The bearish movement began on May 12, 2017, and continued yesterday. As soon as the resistance level at 1.0000 was breached to the downside, a bearish bias was formed. A movement below the support level at 0.9950 would result in a stronger Bearish Confirmation Pattern in the market.

EUR/USD: The EUR/USD made some bullish attempt yesterday, and that action has invalidated the last short-term bearish signal in the market. Price is currently above the support line at 1.0950, going towards the resistance line at 1.1000.

USD/CHF: The USD/CHF has almost generated a bearish signal in the 4-hour chart. The bearish movement began on May 12, 2017, and continued yesterday. As soon as the resistance level at 1.0000 was breached to the downside, a bearish bias was formed. A movement below the support level at 0.9950 would result in a stronger Bearish Confirmation Pattern in the market.

GBP/USD: The Cable is still consolidating – something that was started last week. A closer look at the market reveals that the uptrend is getting tired, thereby increasing chances of a large pullback, which could happen this week. A movement below the accumulation territory at 1.2800 would result in a bearish bias.

USD/JPY: This currency trading instrument has been able to retain its bullishness in spite of its short-term sideways movement. A movement above the supply level at 114.00 would result in a stronger bullish outlook, while a movement below the demand level at 112.00 would result in bearish outlook.

EUR/JPY: This cross has been able to exert its bullish strength. Price moved further north on Monday, to continue the northwards movement it started on April 24. Price has gone upwards by over 600 pips since April 24, 2017, and this seems to just be the beginning. Only a significant pullback can serve as a threat to the bullish trend.

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The EUR/USD gained 290 pips last week, as price closed slightly above the support line at 1.1200. This week, price may target the resistance lines at 1.1250, 1.1300 and 1.1350. Some EUR pairs would trend higher, while some would trend lower this week. However, the EUR/USD is supposed to trend higher.

EUR/USD: The EUR/USD gained 290 pips last week, as price closed slightly above the support line at 1.1200. This week, price may target the resistance lines at 1.1250, 1.1300 and 1.1350. Some EUR pairs would trend higher, while some would trend lower this week. However, the EUR/USD is supposed to trend higher.

USD/CHF: This currency trading instrument lost 270 pips last week, closing below the resistance level at 0.9750. Price has lost 340 pips since May 12 – something that has resulted in a strong Bearish Confirmation Pattern in the market. The outlook on the USD/CHF remains bearish for this week, and further southwards movement would be witnessed as the support levels at 0.9700, 0.9650 and 0.9600 are being tested.

GBP/USD: This pair consolidated in the first few days of last week, and then trended upwards, to emphasize the recent bullish outlook on the market. Price is now above the accumulation territory at 1.3000, going towards the distribution territory at 1.3050, which should be breached this week as price rallies more and more.

USD/JPY: The USD/JPY experienced a major pullback last week. In the first few days of the week, price lost about 300 pips, before consolidating in the first few days of last week. There is a bearish outlook on the market, and it would continue to be logical as long as price does not go above the supply level at 114.00 (which would, however, require extraordinary buying pressure).

EUR/JPY: This cross pair went upwards on Monday and Tuesday, came down on Wednesday and Thursday, and then went up again on Friday. Unlike its USD/JPY counterpart, the EUR/JPY cross has not gotten bearish, and one factor helping the situation is a measure of strength in the EUR itself. Price could gain additional 200 pips this week, especially when the Yen becomes weak.

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The USD/CHF trended lower on Monday, in continuation of the bearish trend that is in place. There is a Bearish Confirmation Pattern in the market, and further decline in price is anticipated as price goes towards the support levels at 0.9700, 0.9650 and 0.9600.

EUR/USD: The EUR/USD went upwards yesterday, testing the resistance line at 1.1250. There could be some temporary pullback after this, but price is expected to continue journeying upwards, going above the resistance line at 1.1250 and going towards another resistance line at 1.3000. The resistance line at 1.3000 is the ultimate target for this week.

USD/CHF: The USD/CHF trended lower on Monday, in continuation of the bearish trend that is in place. There is a Bearish Confirmation Pattern in the market, and further decline in price is anticipated as price goes towards the support levels at 0.9700, 0.9650 and 0.9600.

GBP/USD: The Cable remains a bullish market in spite of the recent consolidation on it. Price is now around the accumulation territory at 1.3000, and it may go towards the distribution territory at 1.3050 (after the distribution territory at 1.3000 is breached to the upside). More and more northward movement is anticipated this week.

USD/JPY: The USD/JPY experienced a major pullback last week, and did nothing significant on May 22, 2017. There is a bearish outlook on the market, and it would continue to be logical as long as price does not go above the supply level at 114.00 (which would, however, require extraordinary buying pressure).

EUR/JPY: This cross pair went upwards on Monday, in the context of an uptrend. Price is currently at the demand zone of 125.00, and it may rise further, especially given the bullish expectation on JPY pairs. One factor helping the situation is a measure of strength in the EUR itself. Price could gain additional 200 pips this week, especially when the Yen becomes weak.

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The GBP/USD moved sideways from Monday to Wednesday, and then began to come down on Thursday. Price went downwards from the distribution territory at 1.3000 towards the accumulation territory at 1.2800 (a drop of 200 pips). The outlook on GBP pairs is bearish for this week and for the month of June 2017. Though the markets are supposed to become quiet in June, GBP pairs would trend seriously.

EUR/USD: This pair moved sideways last week, oscillating between the support line at 1.1150 and the resistance line at 1.1250. The resistance line at 1.1250 was tested several times without success but, it would be breached to the upside this week. The outlook on EUR pairs is bearish for June (though some EUR pairs would make bullish attempts). It is expected that the resistance line at 1.1250 would be breached to the upside this week.

USD/CHF: This currency trading instrument consolidated last week, testing the support level at 0.9700 several times without breaking it to the downside, and also not going above the resistance level at 0.9800. The Greenback is supposed to become weak this week; while the Swissie would be strong: Hence a bearish movement on the USD/CHF. The support level at 0.9700 would be breached to the downside this week as price goes further south. However, this trend would be reversed when the EUR/USD plummets in June.

GBP/USD: The GBP/USD moved sideways from Monday to Wednesday, and then began to come down on Thursday. Price went downwards from the distribution territory at 1.3000 towards the accumulation territory at 1.2800 (a drop of 200 pips). The outlook on GBP pairs is bearish for this week and for the month of June 2017. Though the markets are supposed to become quiet in June, GBP pairs would trend seriously.

USD/JPY: Last week, this currency trading instrument went between the supply level at 112.00 and the demand level at 111.00. The bias is bearish in the short-term and neutral in the long-term. The demand level at 111.00 would be breached to the downside as the instrument becomes weaker. The markets would generally become quiet in June. However, JPY pairs would trend nicely.

EUR/JPY: The EUR/JPY did not do anything significant last week, save the shallow bearish run that was seen on May 26. It is possible that price would go upwards this week, but that is limited, owing to the expected bearishness in the market. The outlook on JPY pair is bearish for June 2017, and the EUR.JPY may lose about 300 pips within the next two weeks, potentially leading to the end of the current bullish bias on the market.

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The GBP/USD dropped sharply last week, resulting in a huge Bearish Confirmation Pattern in the 4-hour chart. On Monday, there was a weak rally in the context of a downtrend, and that would turn out to be another good opportunity to sell short. Price might reach the accumulation territories at 1.2800, 1.2750 and 1.2700 this week, as it goes more and more bearish.

EUR/USD: Since it tested the resistance line at 1.1250, the EUR/USD has gone downwards by 100 pips. The downwards movement is slow and gradual, but its continuation could threaten the extant bullish bias on the market. Although the outlook on the EUR/USD is bearish for June 2017, it is possible for a transitory rally attempt to be made here.

USD/CHF: This currency trading instrument consolidated last week, and made a very weak bullish effort on May 29. The outlook on the market is bearish, and it would be difficult for price to go seriously upwards this week (in spite of the imminent weakness of the EUR/USD); owing to the expected weakness in the Greenback and the expected stamina in CHF. Please watch CHF pairs.

GBP/USD: The GBP/USD dropped sharply last week, resulting in a huge Bearish Confirmation Pattern in the 4-hour chart. On Monday, there was a weak rally in the context of a downtrend, and that would turn out to be another good opportunity to sell short. Price might reach the accumulation territories at 1.2800, 1.2750 and 1.2700 this week, as it goes more and more bearish.

USD/JPY: This pair still moves between the supply level at 112.00 and the demand level at 111.00. The bias is bearish in the short-term and neutral in the long-term. The demand level at 111.00 would be breached to the downside as the instrument becomes weaker.

EUR/JPY: A bearish signal has already been generated on the EUR/JPY cross. The market has moved below the supply zone at 124.00, now targeting the demand zones at 123.50, 122.00 and 122.50. Based on the expectation on JPY pairs for June 2017, this cross would become more and more bearish, thereby rendering the recent bullish bias completely invalid.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

Daily analysis of major pairs for June 5, 2017

The GBP/USD is bullish in the long-term but neutral in the short-term. The price simply fluctuated last week, without assuming any directional movement. This week, the price would either go above the distribution territory at 1.3050 to strengthen the long-term bullish outlook; or go below the accumulation territory at 1.2700, to form a new bearish bias. This is expected to happen this week or next.

EUR/USD: The EUR/USD went upwards last week, closing above the support line at 1.1250 on June 2, and going towards the resistance line at 1.1300. The resistance line at 1.1300 may even be breached to the upside as price goes further upwards. However, there is bound to be a bearish reversal this week or next, owing to the bearish outlook on EUR pairs, which would probably materialize within the next several trading days.

USD/CHF: This is a bear market. Price went south last week, following the initial consolidation that was witnessed in first few days of the week. The market has lost about 460 pips since May 11, and this has caused a clean Bearish Confirmation Pattern in the chart. The market would continue going downwards until there is a bearish reversal on the EUR/USD – a factor that may cause the USD/CHF to spring upwards.

GBP/USD: The GBP/USD is bullish in the long-term but neutral in the short-term. The price simply fluctuated last week, without assuming any directional movement. This week, the price would either go above the distribution territory at 1.3050 to strengthen the long-term bullish outlook; or go below the accumulation territory at 1.2700, to form a new bearish bias. This is expected to happen this week or next.

USD/JPY: This pair went sideways last week, but became vividly and conspicuously bearish on Friday. Price is expected to go more and more southwards this week, reaching the demand levels at 110.00, 109.50 and 109.00. The forecasted southwards movement goes hand in hand with the bearish expectation on JPY pairs, for the month of June.

EUR/JPY: This cross pair is bullish in the long-term, and neutral in the short term. Price tested the demand zone at 123.50 last week, and then went upwards by 180 pips, before closing below the supply zone at 125.00 on Friday. This week, further bullish effort may be made, as long as EUR is strong in itself. A show of weakness in EUR may cause this cross pair to tumble.

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Daily analysis of major pairs for June 6, 2017

On Monday, the USD/JPY moved sideways in the context of a downtrend. Further sideways movement is possible, though when a breakout does occur, it would most probably be in favor of bears. This week, the demand levels at 110.00, 109.50 and 109.00 could be tested.

EUR/USD: The EUR/USD simply consolidated on June 5. There would soon be a rise in volatility, and he resistance line at 1.1300 may be breached to the upside as price goes further upwards. However, there is bound to be a bearish reversal this week or next, owing to the bearish outlook on EUR pairs, which would probably materialize within the next several trading days.

USD/CHF: There is a clean Bearish Confirmation Pattern in the USDCHF chart, signaling a possibility of further bearish movement in the market. The market would continue going downwards until there is a bearish reversal on the EUR/USD – a factor that may cause the USD/CHF to spring upwards.

GBP/USD: There is now a short-term signal on the Cable, as price manages to go above the accumulation territory at 1.2900. The next targets would be the distribution territories at 1.2950, 1.3000 and 1.3050. The long-term bias on the market remains bullish, and the bias would hold as long as there is no bearish journey of about 500 pips.

USD/JPY: On Monday, the USD/JPY moved sideways in the context of a downtrend. Further sideways movement is possible, though when a breakout does occur, it would most probably be in favor of bears. This week, the demand levels at 110.00, 109.50 and 109.00 could be tested.

EUR/JPY: This currency cross is neutral in the short-term. Price made a faint attempt to go south – yesterday. Further southwards movement may help price reach the demand zones at 124.00, 123.50 and 123.00; an event that would eventually lead to a Bearish Confirmation Pattern in the chart. The outlook on JPY pairs is bearish for June 2017.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

Daily analysis of major pairs for June 12, 2017

As it was anticipated, GBP pairs underwent major pullbacks on June 9, while The EURGBP shot skywards. That was what put an end to the short-term neutrality on the GBP/USD, which lost 300 pips initially. The outlook on GBP pairs remains bearish for this week, and further southwards movement is expected as the accumulation territories at 1.2700, 1.2650 and 1.2600 are tested.

EUR/USD: This pair remains bullish, but the bullish momentum is getting weaker and weaker. The outlook on EUR pairs is bearish this week, and more bearish movement may be witnessed, which would put an end to the current bullish, but that would be when the support lines at 1.1050 and 1.1000 are breached to the downside.

USD/CHF: This currency trading instrument went sideways on Monday and Tuesday and then went upwards on Wednesday, Thursday and Friday, but that was not significant enough. This week, USD could become weak versus other currencies CHF, AUD and NZD, which means price would go down towards the support levels at 0.9650 and 0.9600. The only factor that can help the USD/CHF upwards is when the EUR/USD experiences a major pullback

GBP/USD: As it was anticipated, GBP pairs underwent major pullbacks on June 9, while The EURGBP shot skywards. That was what put an end to the short-term neutrality on the GBP/USD, which lost 300 pips initially. The outlook on GBP pairs remains bearish for this week, and further southwards movement is expected as the accumulation territories at 1.2700, 1.2650 and 1.2600 are tested.

USD/JPY: This pair went bearish from Monday to Tuesday, and then went bullish from Wednesday to Friday. Nonetheless, that was not significant enough to cause a bullish bias on the market, for the dominant bias remains bearish. The outlook on the market for this week is strongly bearish, and so it is for other JPY pairs. Bears would target the demand levels at 109.50, 109.00 and 108.50.

EUR/JPY: This cross pair dropped 150 pips last week, testing the demand zone at 123.00. The market then remained volatile for the rest of the week. This week, the market would go southwards (as it is also expected on other JPY pairs), reaching the demand zones at 123.00, 122.50 and 122.00. That would eventually lead to a clean Bearish Confirmation Pattern in the market.

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Daily analysis of major pairs for June 13, 2017

The GBP/USD is currently bouncing upwards in the context of a downtrend. Price tested the accumulation territory at 1.2650 yesterday and it has now gone above the accumulation territory at 1.2700, targeting the distribution territory at 1.2750. This kind of action is normally seen as a rally in the context of a downtrend, which cannot be overridden unless the distribution territory at 1.3000 is overcome.

EUR/USD: The outlook on EUR pairs is bearish this week, though the market has only moved sideways so far this week. More bearish movement may be witnessed this week, when volatility rises, which would put an end to the current bullish, but that would be when the support lines at 1.1050 and 1.1000 are breached to the downside.

USD/CHF: The USD/CHF did not do anything significant on Monday. There would soon be a rise in momentum, as USD could become weak versus other currencies like CHF, AUD and NZD, which means price would go down towards the support levels at 0.9650 and 0.9600. This pair cannot go up unless the EUR/USD crashes.

GBP/USD: The GBP/USD is currently bouncing upwards in the context of a downtrend. Price tested the accumulation territory at 1.2650 yesterday and it has now gone above the accumulation territory at 1.2700, targeting the distribution territory at 1.2750. This kind of action is normally seen as a rally in the context of a downtrend, which cannot be overridden unless the distribution territory at 1.3000 is overcome.

USD/JPY: There is a Bearish Confirmation Pattern in the USD/JPY 4-hour chart. The outlook on the JPY pairs is bearish for this week, and for this month. Therefore, when there is volatility in the market, it would most probably favor bears, as price is expected to go further southwards, strengthening the existing bullish bias.

EUR/JPY: This cross pair dropped 150 pips last week, testing the demand zone at 123.00. The market then remained volatile for the rest of the week, and it has remained volatile till now. This is a bear market and price is expected to go more and more southwards.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

Daily analysis of major pairs for June 19, 2017

The GBP/USD is a volatile market, and price did not a make a significant directional bias last week. This has forced the market to enter a neutral bias in the short-term. There would be an end to the neutral bias when the accumulation territory at 1.2600 is breached to the downside, or the distribution territory at 1.2900 is breached to the upside. As long as one of these things does not happen, the bias would remain neutral.

EUR/USD: This pair moved sideways last week – in the context of an uptrend. The outlook on EUR pairs is bearish for this week, and this may make the EUR/USD go southwards, causing a bearish bias to form in the market. Further southwards movement is thus expected.

USD/CHF: Last week, the USD/CHF consolidated in the context of a downtrend, with price making a faint bullish effort in the last few days of the week. The outlook on the market is bullish for this week, and this could put an end to the bearish bias, especially as price goes above the resistance level at 0.9900. Two factors would help realize the bullish outlook: When the EUR/USD drops, the USDCHF would be helped upwards. Then CHF itself could become somewhat weak this week, and that may help USD to the upside.

GBP/USD: The GBP/USD is a volatile market, and price did not a make a significant directional bias last week. This has forced the market to enter a neutral bias in the short-term. There would be an end to the neutral bias when the accumulation territory at 1.2600 is breached to the downside, or the distribution territory at 1.2900 is breached to the upside. As long as one of these things does not happen, the bias would remain neutral.

USD/JPY: This currency trading instrument made attempts to go upwards on Thursday and Friday, but that did not override the bearish outlook on the market. Rally attempts should be disregarded, for that could turn out to be short-selling opportunities, for the outlook on JPY pairs is also bearish for this week.

EUR/JPY: The bias in the EUR/JPY cross remains bullish in spite of the threats to it. The cross closed above the demand zone at 124.00 on Friday, and it may even reach the supply zones at 124.50 and 125.00. However, the market is not expected to trade upwards significantly. Once the market drops below the demand zone at 121.00, the bias on the market would turn bearish. Any gains of stamina on the Yen would cause the market to shoot downwards.

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Daily analysis of major pairs for June 20, 2017

There is a clean bullish signal on the USD/JPY. Price went higher on Monday and it is now above the demand level at 111.50. More bullish movement is anticipated as price goes towards the supply level at 112.00. The supply level could even be exceeded before price later turns bearish before the end of this month.

EUR/USD: There is a bearish signal on the EUR/USD – with a Bearish Confirmation Pattern in the market. This is in accordance with the forecast for this week, for price could go downwards by over 200 pips within the next few days. Some weakness could also happen on certain EUR pairs.

USD/CHF: There is a bullish signal on the USD/CHF – with a Bullish Confirmation Pattern in the market. This is in accordance with the forecast for the week, for price could go upwards by over 200 pips within the next few days. The EUR/USD would go down and help the USD/CHF upwards. CHF is also expected to be weak versus USD.

GBP/USD: The Cable is currently showing some weakness, and further bearish movement is possible as price goes into the accumulation territories at 1.2700, 1.2650 and 1.2600. Unless the distribution territory at 1.3000 is breached to the upside, any rallies in this market should be ignored.

USD/JPY: There is a clean bullish signal on the USD/JPY. Price went higher on Monday and it is now above the demand level at 111.50. More bullish movement is anticipated as price goes towards the supply level at 112.00. The supply level could even be exceeded before price later turns bearish before the end of this month.

EUR/JPY: This cross has gone upwards by 55 pips this week, having gone upwards by 200 pips since June 15. There is a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is possible as price goes towards the supply zones at 125.00 and 125.50.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

Daily analysis of major pairs for June 26, 2017

The EUR/JPY cross has been able to maintain the bullish bias it started on June 15. Price tested the demand zone at 123.50, and then was able to go above the demand zone at 124.50. This has revealed a bullish intent, and price could go further upwards. However, the upwards movement may not be so serious because of a possibility of a smooth bearish run before the end of the week.

EUR/USD: The bias on the EUR/USD has become neutral because price did not do anything significant last week. There was generally a movement between the support line at 1.1100 and the resistance line at 1.1250. There must be a movement above the aforementioned resistance line or below the support line. A movement above the resistance line is the most likely for this week.

USD/CHF: This pair remains essentially a bear market. The bearish signal that started in May 2017 is still in place, and further bearish movement is anticipated, especially when the EUR/USD goes upwards. The targets for this week are located at the support levels at 0.9650 and 0.9600.

GBP/USD: This weak currency trading instrument went downwards in the first few trading days of last week, to test the accumulation territory at 1.2600, before bouncing upwards to close above the accumulation territory at 1.2700 on Friday. That upwards bounce could end up becoming a good opportunity to go short, because the market could turn downwards to test the accumulation territories at 1.2700, 1.2650 and 1.2600 this week (these are the targets, since those accumulation territories were also previously tested last week). The outlook on GBP pairs remains bearish for the week.

USD/JPY: This pair has become neutral, because price could not continue going upwards to sustain the generation of the bullish signal, which took place on June 15. In fact, price simply went sideways last week, preparing to break out upwards or downwards (downwards is more probable, because the outlook on JPY pair remains bearish for this week).

EUR/JPY: The EUR/JPY cross has been able to maintain the bullish bias it started on June 15. Price tested the demand zone at 123.50, and then was able to go above the demand zone at 124.50. This has revealed a bullish intent, and price could go further upwards. However, the upwards movement may not be so serious because of a possibility of a smooth bearish run before the end of the week.

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Daily analysis of major pairs for June 27, 2017

The EUR/JPY cross has been going upside, forming a Bullish Confirmation Pattern in the market. Price has gained gone further upwards this week, and it could go further upwards today and tomorrow. There are bullish targets at the supply levels of 125.50, 126.00 and 126.50, which are expected to be reached.

EUR/USD: The EUR/USD did nothing significant on Monday. There has generally been a movement between the support line at 1.1100 and the resistance line at 1.1250. There must be a movement above the aforementioned resistance line or below the support line. A movement above the resistance line is the most likely for this week.

USD/CHF: This market has been moving sideways since last week, and the bias is neutral in the short-term (in the context of a major downtrend). There is a possibility that volatility would rise in the market before the end of this week, or at the beginning of another week. This direction would then be determined by whatever happens to the EUR/USD.

GBP/USD: The Cable did nothing noteworthy yesterday, although it bounced upwards in the last few days of last week. That upwards bounce could end up becoming a good opportunity to go short, because the market could turn downwards to test the accumulation territories at 1.2700, 1.2650 and 1.2600 this week.

USD/JPY: There is now a bullish signal on this currency trading instrument. Price has gone above the demand level at 111.50, and it has tested the supply level at 112.00. The supply level is expected to be breached to the upside as price goes further north. It looks like the bearish expectation for the month of June is over.

EUR/JPY: The EUR/JPY cross has been going upside, forming a Bullish Confirmation Pattern in the market. Price has gained gone further upwards this week, and it could go further upwards today and tomorrow. There are bullish targets at the supply zones of 125.50, 126.00 and 126.50, which are expected to be reached.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
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Daily analysis of major pairs for July 3, 2017

The GBP/USD gained about 340 pips last week, closing above the accumulation territory at 1.3000 (which was our target for last week). It is possible that price would continue going upwards this week, but the upwards movement would not be much, owing to a bearish outlook on GBP pairs for this week and for the month of July 2017.

EUR/USD: This pair moved upwards by 230 pips last week, ending the consolidation phase that was witnessed from June 12 to June 24. There is a huge Bullish Confirmation Pattern in the market, and further upwards movement is possible. However, the upwards movement may not take place protractedly because the outlook on EUR pairs is bearish for this week. The EUR/USD may thus slide southwards before the end of the week.

USD/CHF: The USD/CHF dropped precipitously last week, losing about 160 pips. Price almost tested the support level at 0.9550, before bouncing upwards to close near the resistance level at 0.9600. There is a bearish bias on the market, though that may change soon as the EUR/USD slides southwards, helping the USD/CHF to rally.

GBP/USD: The GBP/USD gained about 340 pips last week, closing above the accumulation territory at 1.3000 (which was our target for last week). It is possible that price would continue going upwards this week, but the upwards movement would not be much, owing to a bearish outlook on GBP pairs for this week and for the month of July 2017.

USD/JPY: Since June 14, this currency trading instrument has been going upwards slowly and gradually, gaining about 350 pips since then. The supply level at 112.50 was tested but price could not close above that level. This week, there is a great possibility of a bearish run, because the outlook on JPY pairs is seriously bearish for this week and for July 2017.

EUR/JPY: Unlike its USD/JPY counterpart, which moved upwards slowly and gradually, the EUR/JPY moved upwards significantly and rapidly. Price took off from the demand zone at 124.50, reaching the supply zone at 128.50 (a movement of 400 pips). Short trades are not currently advised here, owing to a big Bullish Confirmation Pattern in the market. Nonetheless, there would soon be a deep correction in the market – as a result of the bearish outlook on JPY pairs for July – and that is when short trades would make some sense.

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Daily analysis of major pairs for July 4, 2017

The USD/JPY made further bullish movement on Monday, but it is now engaged in a shallow bearish correction, which may turn out to be another good opportunity to go for a short-term bullish signal. There is a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is a possibility (although the outlook on JPY pairs is bearish for this month).

EUR/USD: The EUR/USD traded lower yesterday, and it has continued doing so today. However, the major bias on the market remains bearish, owing to the strong northwards breakout that was seen last week. There cannot be a change in the bias on the market (to bearish), as long as price does not go below the support line at 1.1200.

USD/CHF: Since the beginning of this week till now, the USD/CHF has gone upwards by more than 70 pips, against the dominant bearish bias. Price is now above the support level at 0.9650, going towards the resistance level at 0.9700. As soon as price goes above the resistance level at 0.9800, the bearish bias would be over.

GBP/USD: Since the beginning of this week, the Cable has been gradually corrected downward. It is possible that price would continue going upwards this week (owing to the dominant bullish outlook), but the upwards movement would not be much, as a result of a bearish outlook on GBP pairs for this week and for the month of July 2017.

USD/JPY: The USD/JPY made further bullish movement on Monday, but it is now engaged in a shallow bearish correction, which may turn out to be another good opportunity to go for a short-term bullish signal. There is a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is a possibility (although the outlook on JPY pairs is bearish for this month).

EUR/JPY: Since Monday till now, the EUR/JPY cross has not done much, though a bullish signal remains in place. Short trades are not currently advised here, owing to a big Bullish Confirmation Pattern in the market. Nonetheless, there would soon be a deep correction in the market – as a result of the bearish outlook on JPY pairs for July – and that is when short trades would make some sense.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

Daily analysis of major pairs for July 10, 2017

The market moved sideways in the first few days of last week, before moving further upwards. Since June 15, the market has gained about 740 pips, closing close to the supply zone at 130.00 on Friday. Once the supply zone is breached to the upside, price would target other supply zones at 130.50, 131.00 and 131.50. There is also a possibility of a reversal, but that would not happen as long as EUR is strong.

EUR/USD: This pair got corrected lower from Monday to Wednesday and then moved upwards on Thursday, to close just below the resistance line at 1.1400 on Friday. The outlook on the EUR/USD is bullish for this week, and further bullish movement may help price attain additional resistance lines at 1.1450, 1.1500 and 1.1550.

USD/CHF: This pair made some bullish effort in the first few days of last week, but that was not significant enough to result in invalidation of the extant bearish bias. Price was corrected lower on Thursday to emphasize the presence of bears. The outlook on USD is bearish for this week, and as long as the EUR/USD goes up, the USD/CHF cannot be expected to come down.

GBP/USD: The GBP/USD is bearish in the shorter-term and bullish in the longer-term. Price lost about 110 pips, to close below the distribution territory at 1.2900. This week, there is a strong bullish outlook on GBP pairs, and as such, the Cable could rally strongly, reaching the distribution territories at 1.2900, 1.2950 and 1.3000, which were all previously attained. The market could even go beyond those distribution territories.

USD/JPY: Since June 14, the USD/JPY has gained about 510 pips, moving upwards perpetually. Price is now close to the supply level at 114.00, and it would soon be breached to the upside, owing to the strong Bullish Confirmation Pattern in the 4-hour chart. The initial targets this week are located at the supply levels of 114.50 and 115.00. However, that does not rule out an eventual bearish run, since the outlook for this month is bearish.

EUR/JPY: The market moved sideways in the first few days of last week, before moving further upwards. Since June 15, the market has gained about 740 pips, closing close to the supply zone at 130.00 on Friday. Once the supply zone is breached to the upside, price would target other supply zones at 130.50, 131.00 and 131.50. There is also a possibility of a reversal, but that would not happen as long as EUR is strong.

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Daily analysis of major pairs for July 11, 2017

The EUR/JPY is in a bullish mode, though nothing significant happened on Monday. The market is supposed to move upwards strongly this week, just as it has done in the past few weeks. The supply zones at 130.50, 140.00 and 140.50 could be reached, after some volatility returns to the market.

EUR/USD: The EUR/USD did nothing significant. The outlook on the EUR/USD is bullish for this week, and further bullish movement may help price attain additional resistance lines at 1.1450, 1.1500 and 1.1550.

USD/CHF: The constant bullish effort on the USD/CHF has at last, resulted in a “buy” signal in the market. There is now a strong bullish indication as price goes above the support level of 0.9650, going towards the resistance level at 0.9700 (having gained about 40 pips on Monday). Any show of weakness on the EUR/USD would send the USD/CHF skywards.

GBP/USD: The GBP/USD is bearish in the shorter-term, and the increasing short-term weakness has already resulted in a “buy” signal in the market. Price is below the distribution territory at 1.2900, going towards the accumulation territory at 1.2850. This accumulation territory could be temporarily exceeded before there is a reversal.

USD/JPY: Since June 14, a gain of over 500 pips has been made. This currency trading instrument has gone further upwards this recently, going above the demand level at 114.00 and going towards the supply level at 114.50 (the initial target). Another target after this is the supply level at 115.00.

EUR/JPY: The EUR/JPY is in a bullish mode, though nothing significant happened on Monday. The market is supposed to move upwards strongly this week, just as it has done in the past few weeks. The supply zones at 130.50, 140.00 and 140.50 could be reached, after some volatility returns to the market.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

Daily analysis of major pairs for July 17, 2017

The EUR/JPY moved downwards last week, in the context of an uptrend. Price first went upwards to test the supply zone at 130.50, before it got corrected by 180 pips. The demand zone at 128.50 has tried to halt further correction, but price may break below it as it goes further southwards, thus invalidating the uptrend.

EUR/USD: This pair has been able to maintain its bullishness so far; though price went in a zigzag manner. The pair closed above the support line of 1.1450 on July 14, now targeting the resistance line at 1.1500 (the initial target for the week). As soon as price exceeds the resistance line, it would go upwards to target additional resistance lines.

USD/CHF: This market is neutral in the short-term and bearish in the long-term. The neutrality in the market would continue as long as price does not go above the resistance level at 0.9750; and as long as it does not go below the support level at 0.9550. A movement above the aforementioned resistance level would result in a bullish bias, while a movement below the support level at 0.9550 would strengthen the current bearish bias.

GBP/USD: The GBP/USD moved sideways early last week, and it shot seriously skywards in the last few days of the week. The distribution territory at 1.3100 has been tested and it would soon be breached to the upside, for price can move further upwards by 200 pips this week. The outlook on certain other GBP pairs is also bullish.

USD/JPY: The movement on this currency trading instrument was bearish last week, and that has become a threat to the recent bullish bias. Only an upwards movement from here would save the bullish bias. A movement below the demand level at 111.50 would invalidate the recent bullish bias, creating a clear “sell” signal. That is the expectation for this week.

EUR/JPY: The EUR/JPY moved downwards last week, in the context of an uptrend. Price first went upwards to test the supply zone at 130.50, before it got corrected by 180 pips. The demand zone at 128.50 has tried to halt further correction, but price may break below it as it goes further southwards, thus invalidating the uptrend. It should be borne in mind that the outlook on JPY pairs is bearish for July.

Source: www.instaforex.com