Instaforex Trading Forecasts

Commercial Content Analysts
231

The USD/JPY moved sideways throughout the last week, without any significant movement to the upside or to the downside. There would be a serious breakout any day this week, which would most probably favor the bears. There is a demand level at 119.00 and there is a support level at 121.50.

EUR/USD: This pair is still bullish on outlook, though threatened. The price managed to test the resistance line at 1.1450, before being corrected to the downside. The downside movement has not been strong enough to render the current bullish outlook invalid, unless the support line at 1.1200 is breached to the downside.

USD/CHF: The USD/CHF remains a bear market, though there is a challenge to the bearishness in the market. As long as the resistance level at 0.9800 is not broken to the upside, the bearishness would be a rational thing. The market is expected to continue moving downwards this week; coupled with the fact that the resistance level at 0.9800 is a formidable challenge to the bulls.

GBP/USD: This pair went upwards by 300 pips last week, rising from the accumulation territory at 1.5350, and reaching the distribution territory at 1.5650. From that distribution territory, the price has eased by 110 pips. There would be strong volatility in the market this week, for the price would perform a series of upswings and downswings.

USD/JPY: This pair moved slightly south on Thursday, but it cannot be said that the current equilibrium phase is over, for this might be a false breakout. Only a movement below the demand level at 119.00 would show that the trend has really become bearish. There is a supply level at 122.00.

EUR/JPY: This cross is highly volatile with serious struggles between the bulls and the bears. The determinant of this week’s movement on the cross is the situation on the EUR and the JPY – a stronger JPY would cause the cross to tumble and a stronger EUR could cause it to skyrocket. The outlook on JPY pairs remains bearish, and therefore, the cross has a high probability of trending downwards.

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232

Since testing the distribution territory at 1.5650, the Cable has been coming down gradually, though the bullish outlook is still valid. Any movement below the accumulation territory at 1.5400 could lead to a fresh bearish bias. Until that happens, the bias is bullish.

EUR/USD: The EUR/USD has continued the bearish journey it started on Friday. From the resistance line at 1.1450, the price has gone down by 250 pips. The price is now below the resistance line at 1.1200, going towards the support line at 1.1150. This bearish movement has led to a Bearish Confirmation Pattern in the market.

USD/CHF: This pair has made another faint attempt to continue the bullish journey it started on Friday. From the support level at 0.9550, the price has gone upwards by, at least, 170 pips. This upwards movement is not yet strong enough to lead to any serious outlook, unless the price goes above the resistance level at 0.9800. Only a serious plunge in the EUR/USD and a great stamina in the USD could make the USD/CHF go above the resistance level at 0.9800. Until that happens, one might consider staying away from this market.

GBP/USD: Since testing the distribution territory at 1.5650, the Cable has been coming down gradually, though the bullish outlook is still valid. Any movement below the accumulation territory at 1.5400 could lead to a fresh bearish bias. Until that happens, the bias is bullish.

USD/JPY: The current equilibrium phase is not yet over in this market. This week, the price might go above the supply level at 121.50 or below the demand level at 119.00. Until that happens, this would remain an equilibrium market, with the price swinging between the aforementioned support and resistance levels.

EUR/JPY: This cross has also continued journeying southwards – something that started on Friday. There is now a confirmed bearish signal in the market, which could continue to be valid unless the EUR gains loads of strength and the Yen eases a little.

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233

The Cable fell 400 pips last week, testing the accumulation territory at 1.5150. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least, 200 pips this week. The accumulation territories at 1.5100 and 1.5000 are potential targets for the bears.

EUR/USD: This is a bear market, in which the bulls are making relentless effort to push the price upwards. The bulls would not be deemed as being successful until the resistance line at 1.1300 is overcome. Until then, this is a bear market.

USD/CHF: The USD/CHF trended upwards in a directional mode last week, going above the resistance level at 0.9800 briefly before closing below it on Friday. There is a possibility that the resistance level might be tried and breached to the upside again. Only a serious stamina in the EUR/USD could send the USD/CHF plunging southwards.

GBP/USD: The Cable fell 400 pips last week, testing the accumulation territory at 1.5150. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least, 200 pips this week. The accumulation territories at 1.5100 and 1.5000 are potential targets for the bears.

USD/JPY: This is a strong equilibrium market in which there is no clear uptrend or downtrend. It is better for swing and position traders to stay away from the market until there is a reliable breakout from the strong equilibrium phase; and this would require at least, a movement of 200 pips upwards or downwards. Right now, the market is OK for scalpers and intraday traders.

EUR/JPY: The outlook on the EUR/JPY is bearish – though the bulls are making a serious attempt to push it upwards. The EUR/JPY first trended downwards last week, and then it bounced upwards. As long as the price is under the supply zone at 136.00, the outlook is bearish. So one might not go long until the supply zone is breached to the upside.

Source: www.instaforex.com

234

The USD/CHF experienced a large pullback yesterday, but that was not serious enough to override the extant bullish outlook. Only a movement below the support level at 0.9650 could render the bullish outlook invalid; and for that to happen, a significant rally in the EUR/USD is needed.

EUR/USD: On Monday, this pair made some heartwarming bullish effort – which is also visible on most other EUR pairs. The bullish effort that happened on Monday was not serious enough to override the extant bearish bias on the market. Nevertheless, any movement above the resistance line at 1.1300 would jeopardize the existing bearish outlook.

USD/CHF: The USD/CHF experienced a large pullback yesterday, but that was not serious enough to override the extant bullish outlook. Only a movement below the support level at 0.9650 could render the bullish outlook invalid; and for that to happen, a significant rally in the EUR/USD is needed.

GBP/USD: The GBP/USD consolidated on Monday. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least, 200 pips this week. The accumulation territories at 1.5100 and 1.5000 are potential targets for the bears.

USD/JPY: This is a strong equilibrium market in which there is no clear uptrend or downtrend. It is better for swing and position traders to stay away from the market until there is a reliable breakout from the strong equilibrium phase; and this would require at least, a movement of 200 pips upwards or downwards. Right now, the market is OK for scalpers and intraday traders.

EUR/JPY: The outlook on the EUR/JPY is bearish – though the bulls are making a serious attempt to push it upwards. There is a need for the cross to move further upwards by at least, 250 pips before the bearish outlook can become illogical, and until that happens, this is a bear market.

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235

The USD/CHF performed a large pullback on Friday, in the context of an uptrend. Unless the price goes below the support level at 0.9600, the pullback would proffer a wonderful opportunity to go long at a better price. The resistance level at 0.9800 could be tested this week, but a strong buying pressure is required for the resistance level at 0.9850 to be broken.

EUR/USD: The EUR/USD was volatile last week, being alternated with short-term bullish and bearish swings. The rally that took place of October 2, 2015 enabled the price to test the resistance line at 1.1300. However, the price could not close above the resistance line, since it eased a little. The price could ease further today, enabling the support lines at 1.1150 and 1.1100 to be tested.

USD/CHF: The USD/CHF performed a large pullback on Friday, in the context of an uptrend. Unless the price goes below the support level at 0.9600, the pullback would proffer a wonderful opportunity to go long at a better price. The resistance level at 0.9800 could be tested this week, but a strong buying pressure is required for the resistance level at 0.9850 to be broken.

GBP/USD: The Bearish Confirmation Pattern in this market is still a valid thing; in spite of the last bullish attempt. The bullish attempt could prove to be a false breakout, except the distribution territory at 1.5300 is overcome. There is an expectation of a large movement in this market this week, which would favor either the bull or the bear.

USD/JPY: Owing to the ongoing struggle between the bull and the bear, this currency trading instrument has become quite choppy because there is not yet a strong directional movement. This week, the price would either break the supply level at 121.00 to the upside or break demand level at 118.00 to the downside. This condition must be fulfilled before it can be said that the consolidation phase in the market is over.

EUR/JPY: There is also no large directional movement here; though the bias remains bearish. An upwards movement of 200 pips could lead to a “buy” signal. It is possible that the Yen would lose some strength this week, which would help the price to go further north. Otherwise, we would see a test of the demand zones at 133.50 and 133.00.

Source: www.instaforex.com

236

In the context of a downtrend, the Cable moved downwards a bit on Monday. The Bearish Confirmation Pattern in the market remains valid, and it cannot be rendered ineffectual until the distribution territory at 1.5300 is overcome. Further bearish journey is expected today.

EUR/USD: The EUR/USD has remained volatile, being alternated with short-term bullish and bearish swings. In spite of the high volatility, the price has entered a consolidation phase which would hold out until there is a significant movement to the upside or to the downside. This is what is called a breakout.

USD/CHF: The USD/CHF was also volatile on Monday, making some bullish attempt along the way. Although the price threatened some consolidation, the bias is still bullish; and unless there is a strong bullish breakout on the EURUSD, there would not be a serious plunge here. It should be mentioned again that the outlook on the USD is upbeat.

GBP/USD: In the context of a downtrend, the Cable moved downwards a bit on Monday. The Bearish Confirmation Pattern in the market remains valid, and it cannot be rendered ineffectual until the distribution territory at 1.5300 is overcome. Further bearish journey is expected today.

USD/JPY: Owing to the ongoing struggle between the bull and the bear, this currency trading instrument has become quite choppy because there is not yet a strong directional movement. This week, the price would either break the supply level at 121.00 to the upside or break demand level at 118.00 to the downside. This condition must be fulfilled before it can be said that the consolidation phase in the market is over.

EUR/JPY: The bullish attempt that was seen on this cross on Monday was thwarted by a bearish correction that occurred later on it. Today would determine what the direction in the market would be – whether bullish or bearish. Should the price fail to perform a directional movement, the bias on the market would enter an equilibrium phase.

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237

The EUR/JPY performed a clean bullish movement on October 9, 2015. This has led to a bullish bias on the market, which could enable the price to go upwards by at least, 200 pips. The supply zones 137.00 and 138.00 could be tried this week.

EUR/USD: The EUR/USD seems to have ended a few weeks of high volatility with no clear direction, having gone upwards last week. In order to sustain this new bullish direction, the price needs to continue its upwards journey, reaching the resistance lines at 1.1400 and 1.1450. There are support lines at 1.1250 and 1.1200, which may not be tested as long as the bullish direction holds.

USD/CHF: It was once noted that the direction on the USD/CHF would largely be determined by the direction of the EUR/USD itself. Since the later has gone upwards, the former has gone downwards. The former (USD/CHF) has started a bearish movement, which would hold out as long as the latter (EUR/USD) is strong.

GBP/USD: The GBP/USD made a nice bullish movement last week – which resulted in a Bullish Confirmation Pattern in the market. This outlook on GBP pairs is bullish for this week, and we may see a continuation of the current bullish journey, taking the price towards the distribution territories at 1.5400 and 1.5500.

USD/JPY: This market remains in an equilibrium phase, not going above the supply level at 121.00 nor going below the demand level at 119.00. There must be a journey above the supply level or below the demand level before it can be said that the equilibrium phase is over (which is something that will happen this week or next week). When a breakout does occur, it would probably be towards the north, for there is an expectation of bullishness on JPY pairs.

EUR/JPY: The EUR/JPY performed a clean bullish movement on October 9, 2015. This has led to a bullish bias on the market, which could enable the price to go upwards by at least, 200 pips. The supply zones 137.00 and 138.00 could be tried this week.

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238

The Cable is trying to make further bullish effort. The price is now above the accumulation territory at 1.5350, going towards the distribution territory at 1.5400. The distribution territories at 1.5500 and 1.5550 are the ultimate targets for this week, since the outlook on GBP pairs is bullish.

EUR/USD: This pair traded sideways on Monday – in the context of an uptrend. It is very likely that the pair (plus certain other EUR pairs) would rally this week, and therefore, further northwards journey is anticipated. The first target for the bulls is the resistance line at 1.1450.

USD/CHF: There is still a Bearish Confirmation Pattern on the USDCHF. Therefore any rallies that are seen here could be interpreted as short-selling opportunities. The support level at 0.9600 was tested yesterday but it could not be breached to the downside. The support level could be breached this week as the price targets another support level at 0.9550.

GBP/USD: The Cable is trying to make further bullish effort. The price is now above the accumulation territory at 1.5350, going towards the distribution territory at 1.5400. The distribution territories at 1.5500 and 1.5550 are the ultimate targets for this week, since the outlook on GBP pairs is bullish.

USD/JPY: This market remains in an equilibrium phase, not going above the supply level at 121.00 nor going below the demand level at 119.00. There must be a journey above the supply level or below the demand level before it can be said that the equilibrium phase is over (which is something that will happen this week or next week).

EUR/JPY: The EUR/JPY was corrected lower on Monday, though the bullish outlook is valid. The validity of the bullish outlook will hold as long as the demand zone at 135.00 is not broken to the downside. The demand zone, including the one at 135.50, could act as barriers to bearish attempts.

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239

The Cable moved upwards last week, testing the distribution territory at 1.5500 a few times. The price was unable to break above the distribution territory – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside.

EUR/USD: There is a bullish outlook on the pair, though it was corrected lower by the end of the last trading week. The bearish correction could end up being a wonderful opportunity to go long this week (unless the demand level at 1.1250 is broken to the downside). The resistance lines at 1.1450 and 1.1500 could be reached this week.

USD/CHF: There is a Bearish Confirmation Pattern on the USD/CHF; plus the pair would remain under selling pressure as long as the EUR/USD is in a bullish mode. So it is logical to conclude that the movement on the USD/CHF would be largely determined by whatever happens to the EUR/USD.

GBP/USD: The Cable moved upwards last week, testing the distribution territory at 1.5500 a few times. The price was unable to break above the distribution territory – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside. This means that any noticed pullbacks in the market could be taken as opportunities to go long.

USD/JPY: This currency trading instrument has moved back into the neutral territory, owing to the upward bounce that we see after the bearish plunge that happened last week. The price fell by 200 pips and later rose by 150 pips. For a neutral bias to vanish, the price must either go above the supply level at 121.00 or go below the demand level at 118.00.

EUR/JPY: This cross, which traded sideways from Monday till Wednesday last week, broke towards the south on Thursday. The southwards break was strong, but it was not strong enough to jeopardize the existing bullish outlook. A movement below the demand zone at 134.50 would result in a bearish outlook (though it is expected that the demand zone would defend the extant bullish outlook). Any movement above the supply zone at 136.00 would reinforce the existing bullish outlook, which might mean that the pullback which happened on Thursday was a nice opportunity to go long.

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240

GBP/USD: The price on the GBP/USD was unable to break above the distribution territory at 1.5500 last week – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside. This means that any noticed pullbacks in the market could be taken as opportunities to go long.

USD/JPY: This currency trading instrument is still very much in the neutral territory. For a neutral bias to vanish, the price must either go above the supply level at 121.00 or go below the demand level at 118.00. Until now, swing and position traders might want to stay away from the market.

Source: Forex | Online Forex Trading | Currency Trading | Forex Broker

241

The EUR/JPY cross did not move that much on Monday, but some movement is expected this week. A movement below the demand zone at 134.50 would result in a bearish outlook (though it is expected that the demand zone would defend the extant bullish outlook). Any movement above the supply zone at 136.00 would reinforce the existing bullish outlook.

EUR/USD: This pair did not perform any significant movement yesterday (just like most popular pairs). However, there could be some serious movement today or tomorrow, which would most probably be in favor of the bulls. This is because the outlook on the pair is currently bullish.

USD/CHF: There is a Bearish Confirmation Pattern on the USD/CHF; plus the pair would remain under selling pressure as long as the EUR/USD is in a bullish mode. So it is logical to conclude that the movement on the USD/CHF would be largely determined by whatever happens to the EUR/USD.

GBP/USD: The price on the GBP/USD was unable to break above the distribution territory at 1.5500 last week – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside. This means that any noticed pullbacks in the market could be taken as opportunities to go long.

USD/JPY: This currency trading instrument is still very much in the neutral territory. For a neutral bias to vanish, the price must either go above the supply level at 121.00 or go below the demand level at 118.00. Until now, swing and position traders might want to stay away from the market.

EUR/JPY: This cross did not move that much on Monday, but some movement is expected this week. A movement below the demand zone at 134.50 would result in a bearish outlook (though it is expected that the demand zone would defend the extant bullish outlook). Any movement above the supply zone at 136.00 would reinforce the existing bullish outlook, which might mean that the pullback which happened last week was a nice opportunity to go long.

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242

The USD/JPY trended upwards nicely last week, thus ending the recent protracted equilibrium phase in the market. Since October 15, 2015, the price has moved upwards by roughly 350 pips, almost reaching the supply level at 121.50. Further northward movement is anticipated this week, which may enable the price to reach the resistance levels at 122.00 and 122.50.

EUR/USD: The EUR/USD is now in a strong bearish mode – having fallen by 350 pips last week. The bias is now bearish and the price is supposed to go further south this week. But the price needs to break the psychological support line at 1.1000 to the downside. While this might look like a hard job for the bears, it is attainable.

USD/CHF: The movement on the USD/CHF is largely dictated by the movement on the EUR/USD; and therefore, the strength in the former was transferred indirectly by the weakness in the latter. From the support level at 0.9500, the price moved upwards by 300 pips, now very close to the resistance level at 0.9800. In case the price goes above that resistance level (which is very much likely), the next target for the bulls would be another resistance level at 0.9900.

GBP/USD: The Cable was unable to make any meaningful rally last week because the bulls met a stubborn impediment at the distribution territory at 1.5500. In fact, the price simply went down last week, leading to a “sell” signal in the market. The price needs to go further down so that the “sell” signal could be valid. The Cable might be under selling pressure as long as the EUR/USD itself is weak. They are both positively correlated.

USD/JPY: The USD/JPY trended upwards nicely last week, thus ending the recent protracted equilibrium phase in the market. Since October 15, 2015, the price has moved upwards by roughly 350 pips, almost reaching the supply level at 121.50. Further northward movement is anticipated this week, which may enable the price to reach the resistance levels at 122.00 and 122.50.

EUR/JPY: Due to the sudden weakness in the EUR, the EUR/JPY cross also fell rapidly in the last few days of last week. There is now a Bearish Confirmation Pattern in the market, which would most probably continue as long as the EUR is weak. The only factor that can reverse this is a situation is which the YEN becomes weaker than the EUR.

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243

The USD/JPY, which traded strongly northwards last week, has been corrected lower so far this week. The price has come down by 110 pips this week, but the bias is still bullish. The bullish bias would remain valid as long as the demand level at 119.50 is not breached to the downside.

EUR/USD: This market, which plunged massively last week, is still in a bearish mode. The Bearish Confirmation Pattern is valid and it cannot be rendered ineffectual unless the price rises above the resistance line at 1.1200. Right now, any rally attempts in the market could be seen as good opportunities to sell short.

USD/CHF: This pair remains in a strong bullish mode, without any signs of much retracement. The targets for this week: the resistance levels at 0.9850 and 0.9900, remain valid. Although, strong continual buying pressure is needed for the resistance levels to be attained, the outlook here is upbeat.

GBP/USD: This currency trading instrument still has the recent “sell” signal on it, though the price is yet to make a directional movement this week. There are accumulation territories at 1.5300 and 1.5250; plus there are distribution territories at 1.5400 and 1.5450. The price would go above the distribution territories or below the accumulation territories this week.

USD/JPY: The USD/JPY, which traded strongly northwards last week, has been corrected lower so far this week. The price has come down by 110 pips this week, but the bias is still bullish. The bullish bias would remain valid as long as the demand level at 119.50 is not breached to the downside.

EUR/JPY: This cross has continued its bearish journey in a slight manner. The bearish bias is supposed to continue, owing to the current weakness in the EUR and the stamina in the JPY. For this bias to be reversed, the EUR would need to become stronger than the JPY, which might not be possible this week.

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244

After testing the accumulation territory at 1.5250, the Cable spiked upwards last week. However, the overall bias remains bearish and it cannot be rendered invalid unless the distribution territory at 1.5500 is overcome. Until that happens, any rallies could be taken as mere long squeezes (transitory rallies).

EUR/USD: This pair tested the support line at 1.0900, and later bounced upwards in the context of a downtrend. Nevertheless, the overall bias remains bearish and unless the price goes above the resistance line at 1.1150 (which would require a serious buying pressure), the bias would remain bearish. The support line at 1.0900 could thus be tested again in case the selling pressure resumes in earnest. The outlook on the USD is bullish for the month of November 2015.

USD/CHF: This pair tested the resistance level at 0.9950, and later got corrected downwards in the context of an uptrend. Nevertheless, the overall bias remains bullish and unless the price goes below the support level at 0.9750 (which would require a serious selling pressure), the bias would remain bullish. The resistance level at 0.9950 could thus be tested again in case the buying pressure resumes in earnest.

GBP/USD: After testing the accumulation territory at 1.5250, the Cable spiked upwards last week. However, the overall bias remains bearish and it cannot be rendered invalid unless the distribution territory at 1.5500 is overcome. Until that happens, any rallies could be taken as mere long squeezes (transitory rallies).

USD/JPY: Although the current outlook on this pair is bullish, the price has not made any serious directional movement so far. What can be seen in the chart is the alternating movements between the bulls and the bears: The price needs to continue moving upwards, otherwise, the market could enter another equilibrium phase.

EUR/JPY: This cross first went south last week and it then moved upwards in the context of a downtrend. Normally, the cross would be weak as long as the EUR is weak, but this can be reversed in case the JPY becomes weaker than the EUR. Except in certain cases, the JPY pairs could rally significantly this month.

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245

The GBP/USD made a bullish attempt on Monday, but the bears came in and pushed the price back below the distribution territory at 1.5450. There is now a bullish signal in the market, which would be sensible as long as the accumulation territory at 1.5300 is not breached to the downside.
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EUR/USD: There was no directional movement on the EUR/USD on Monday, and so, it can be said that the price simply consolidated in the context of a downtrend. There would soon be a serious directional movement in the market, which would happen today or tomorrow. The EUR/USD is expected to make further downward movement, especially in the face of the expected stamina in the Greenback.

USD/CHF: This pair tested the resistance level at 0.9950, and later got corrected downwards in the context of an uptrend. Nevertheless, the overall bias remains bullish and unless the price goes below the support level at 0.9750 (which would require a serious selling pressure), the bias would remain bullish. The resistance level at 0.9950 could thus be tested again in case the buying pressure resumes in earnest.

GBP/USD: The GBP/USD made a bullish attempt on Monday, but the bears came in and pushed the price back below the distribution territory at 1.5450. There is now a bullish signal in the market, which would be sensible as long as the accumulation territory at 1.5300 is not breached to the downside.

USD/JPY: Although the current outlook on this pair is bullish, the price has not made any serious directional movement so far. What can be seen in the chart is the alternating movements between the bulls and the bears: The price needs to continue moving upwards, otherwise, the market could enter another equilibrium phase.

EUR/JPY: This cross made a faint bullish effort on Monday – all in the context of a downtrend. The cross would be weak as long as the EUR is weak. For this cross to rally, the JPY would need to be weaker than the EUR, which is not the situation at the moment.

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246

Among the majors, the Cable was the strongest moving last week. The movement was so strong that the price fell by 400 pips, testing the accumulation territory at 1.5050. The outlook on this market remains bearish and it is possible that the accumulation territories at 1.5000 and 1.4950 would be attained this week.

EUR/USD: The EUR/USD went down by 300 pips last week, in conjunction with the bearish outlook on the market. There are resistance lines at 1.0850 and 1.0900, which should resist any serious bullish attempts as the price endeavors to go further south. There are also support lines at 1.0650 and 1.0600. These are the potential targets for the bears this week.

USD/CHF: Last week, this pair achieved a predictable feat – the USD reaching parity with the CHF. The price went above the great psychological levels at 1.0000 and 1.0050, closing above the latter on Friday. In the face of the ongoing strength in the Greenback, the pair would continue its upwards journey this week, possibly reaching the resistance levels at 1.0100 and 1.0150.

GBP/USD: Among the majors, the Cable was the strongest moving last week. The movement was so strong that the price fell by 400 pips, testing the accumulation territory at 1.5050. The outlook on this market remains bearish and it is possible that the accumulation territories at 1.5000 and 1.4950 would be attained this week.

USD/JPY: The price on this currency trading instrument moved upwards slowly and steadily last week, and then jumped further upwards on November 6, 2015. Price closed at 123.17 on that day, on a strong bullish note. The bullish journey would continue this week (and this month), owing to a positive outlook on most JPY pairs.

EUR/JPY: The EUR/JPY remains in a bearish mode, though the journey southward was not significant last week. As long as the Euro is strong, the EUR/JPY would continue trending downwards. The only occurrence that can reverse this expectation is the occurrence that enables the Yen to be suddenly weaker than the Euro.

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247

In the context of a downtrend, the GBP/USD bounced upwards on Monday, moving above the accumulation territory at 1.5100. This is seen as a faint bullish attempt in the context of a downtrend, and unless the price goes above the distribution territories at 1.5300 and 1.5350, the bullish attempt might be taken as short-selling opportunities.

EUR/USD: The EUR/USD simply moved sideways on Monday. There are resistance lines at 1.0850 and 1.0900, which should resist any serious bullish attempts as the price endeavors to go further south. There are also support lines at 1.0650 and 1.0600. These are the potential targets for the bears this week.

USD/CHF: In the face of the ongoing strength in the Greenback, the USD/CHF would continue its upwards journey this week, possibly reaching the resistance levels at 1.0100 and 1.0150. Therefore, the current shallow pullback should be viewed as opportunities to go long.

GBP/USD: In the context of a downtrend, the GBP/USD bounced upwards on Monday, moving above the accumulation territory at 1.5100. This is seen as a faint bullish attempt in the context of a downtrend, and unless the price goes above the distribution territories at 1.5300 and 1.5350, the bullish attempt might be taken as short-selling opportunities.

USD/JPY: After topping at 123.50, this currency trading instrument got corrected lower, though the outlook on the market is bright. In the face of the expected bullish movements on most JPY pairs this month (coupled with the strength in the USD), it is logical to conclude that this currency trading instrument would continue its upward journey, going above the supply level at 123.50 again.

EUR/JPY: The EUR/JPY remains in a bearish mode, though the journey southward is not significant. As long as the Euro is strong, the EUR/JPY would continue trending downwards. The only occurrence that can reverse this expectation is the occurrence that enables the Yen to be suddenly weaker than the Euro.

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248

Last week, the EUR/JPY cross merely moved in a choppy, sideways manner. The price zigzagged between the demand zone at 131.50 and the supply zone at 133.00. This week, the EUR/JPY might find it difficult to rally significantly, especially as long as the EUR is weak.

EUR/USD: There was no serious upwards or downwards movements on the EUR/USD pair in the entire last week. For the year 2015, last week saw the tightest sideways movements on most majors, each of which did not move upwards or downwards by 50 pips in certain cases. Although the equilibrium movement could continue, there would soon be a rise in the market momentum.

USD/CHF: This pair simply moved sideways throughout last week, shrugging of all the fundamental data that could impact it. Last week, most major pairs shrugged off most of the fundamental figures that were supposed to affect them (except the employment figures coming out of Australia, which affected AUD pairs). The current consolidation movement could continue until there is a breakout, which would most probably be in favor of the current bullish bias.

GBP/USD: After testing the accumulation territory at 1.5050, the price gradually bounced upwards by 200 pips, reaching the distribution territory at 1.5250. As long as the distribution territory at 1.5350 is not broken to the upside, the recent bearish bias would not be violated. It is probable that the bearish journey would be resumed in earnest.

USD/JPY: In the context of an uptrend, this pair simply consolidated to the downside. The price tested the supply level at 123.50 and got corrected lower, testing the demand level at 122.50. It is possible that the pair would still go further upwards; possibly breaking the supply level at 123.50 to the upside (for it is possible for JPY pairs to assume a bullish journey before the end of this month).

EUR/JPY: Last week, the EUR/JPY cross merely moved in a choppy, sideways manner. The price zigzagged between the demand zone at 131.50 and the supply zone at 133.00. This week, the EUR/JPY might find it difficult to rally significantly, especially as long as the EUR is weak.

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This week, the USD/JPY rose from the demand level at 122.50, almost reaching the supply level at 123.50. This is happening in solidarity with the extant bullish outlook on the market, and since there is a Bullish Confirmation Pattern in the market, it is rational to assume the bullish journey would continue gradually.

EUR/USD: In solidarity with the extant bearish outlook, the EUR/USD price has moved further downwards this week. The movement has happened by over 60 pips. The support line at 1.0650 is currently being penetrated and it could end up being breached to the downside. There are resistance lines at 1.0700 and 1.0750.

USD/CHF: Since the EUR/USD is going further downwards, the USD/CHF is going further upwards. The price is now over the support level at 1.0100, going towards the resistance level at 1.0150, which might even be breached to the upside, provided the bullish bias continues to hold out.

GBP/USD: After testing the accumulation territory at 1.5050, the price gradually bounced upwards by 200 pips, reaching the distribution territory at 1.5250. As long as the distribution territory at 1.5350 is not broken to the upside, the recent bearish bias would not be violated. It is probable that the bearish journey would be resumed in earnest, but now, the price is quite consolidating.

USD/JPY: This week, the USD/JPY rose from the demand level at 122.50, almost reaching the supply level at 123.50. This is happening in solidarity with the extant bullish outlook on the market, and since there is a Bullish Confirmation Pattern in the market, it is rational to assume the bullish journey would continue gradually.

EUR/JPY: This cross opened with a minor gap this week, and then the price bounced upward on Monday, before experiencing the current bearish retracement. The bearish outlook is, nevertheless, valid. In the currency markets, the movements this week would be faster and stronger than the movements last week, owing to small gaps that are noticed on some pairs and crosses.

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The USD/JPY did not make any significant directional movement last week. It just went up and down in a shallow manner, though the bullish bias remains valid. This week, there is a probability that the pair could continue moving upwards, owing to the expected loss of stamina in the Yen.

EUR/USD: There was no directional movement on the EUR/USD last week, as the market simply went up and down in an unreliable manner, closing at 1.0645 on Friday. It is possible that the price would continue south; and it is also possible that the price would rise sharply. This week would witness the possibilities.

USD/CHF: This pair trudged upwards slowly and gradually last week, testing the resistance level at 1.0200 without being able to go above it. For the bullish bias to continue to hold out, the resistance level ought to be broken to the upside this week (while the price stays above it).

GBP/USD: This currency trading instrument went upwards by about 150 pips last week, going briefly above the distribution territory at 1.5300 before going below it. This created a bogus bullish signal as the bears came in and pushed the price back to the level it was before the end of the week. A movement below the accumulation territory at 1.5150 would reinforce the existing bearish outlook, while a movement above the distribution territory at 1.5400 would mean a complete end to the existing bearish outlook.

USD/JPY: The USD/JPY did not make any significant directional movement last week. It just went up and down in a shallow manner, though the bullish bias remains valid. This week, there is a probability that the pair could continue moving upwards, owing to the expected loss of stamina in the Yen.

EUR/JPY: The EUR/JPY cross closed below the supply level at 131.00, in solidarity with the ongoing bearish outlook in the market. Although this cross would find it difficult to go upwards as long as the Euro is very weak, unless the Yen shows more serious weakness versus the Euro. This is also a possibility this week, because JPY pairs could still rally in November.

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