Instaforex Trading Forecasts

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291

Since March 29, 2016, the USD/JPY has dropped by 600 pips. Last week, the drop was over 350 pips. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.

EUR/USD: This pair had a flat movement last week, for the price was unable to close above the resistance line at 1.1450 in spite of forays into it (the resistance line at 1.1400 was also subjected to desperate attacks from the bulls). This week, we would most possibly see the price go above the resistance line at 1.1450, targeting another resistance line at 1.1500.

USD/CHF: The USD/CHF consolidated throughout last week, not going below the support level at 0.9500. The support level should be broken to the downside, reaching another support level at 0.9000. A breakout would happen this week, which would most probably favor the bears.

GBP/USD: The Cable was highly volatile last week, reaching a high of 1.4319 and a low of 1.4004. The overall bias remains bearish in the near-term, though the bulls are not keeping their fingers crossed this time around. They would most probably effect a rally, which would jeopardize the current bearish bias, especially when the distribution territory at 1.4400 is overcome. This would require a strong rally, which would occur because the outlook on GBP pairs is bright for this week.

USD/JPY: Since March 29, 2016, the USD/JPY has dropped by 600 pips. Last week, the drop was over 350 pips. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.

EUR/JPY: Last week alone, this cross dropped by over 450 pips, almost testing the demand zone at 122.50. There is a very strong bearish outlook on the market (and of course, other JPY pairs). These bearish movements were anticipated for around the end of the month, but they have started earlier than imagined. Further bearish movement is expected on this cross, except the JPY is weakened considerably.

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292

The Cable traded higher on Monday, rising from the accumulation territory at 1.4100 and reaching the distribution territory at 1.4250. This is a movement of 150 pips, and as it was forecasted, the upward movement could continue this week (and it would be visible on other GBP pairs). A movement above the distribution territory at 1.4350 would mean the end of the currency bearish bias.

EUR/USD: There is still a sideways movement here. This pair also had a flat movement last week, for the price was unable to close above the resistance line at 1.1450 in spite of forays into it (the resistance line at 1.1400 was also subjected to desperate attacks from the bulls).

USD/CHF: The USD/CHF consolidated on Monday, not going below the support level at 0.9500. The support level should be broken to the downside, reaching another support level at 0.9000. A breakout would happen this week, which would most probably favor the bears. There is a Bearish Confirmation Pattern in the market.

GBP/USD: The Cable traded higher on Monday, rising from the accumulation territory at 1.4100 and reaching the distribution territory at 1.4250. This is a movement of 150 pips, and as it was forecasted, the upward movement could continue this week (and it would be visible on other GBP pairs). A movement above the distribution territory at 1.4350 would mean the end of the currency bearish bias.

USD/JPY: Here, the EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50.Further southward journey is possible. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.

EUR/JPY: The bears are still willing to push the price further southward here. There is a very strong bearish outlook on the market (and of course, other JPY pairs). The bears should be able to target the demand zones at 122.50, 122.00 and 121.50 this week. Any rallies we see here might be an opportunity to sell short at better prices.

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293

The EUR/JPY went sideways throughout last week. The market has been caught in an equilibrium phase but, but there would be a breakout this week. The EUR/JPY cross, which closed below the supply zone at 123.00 on Friday, is expected to trend lower this week, reaching the demand zones at 122.00 and 121.50.

EUR/USD: The bias on this market is getting neutral owing to the consolidation that was witnessed in the last two weeks. Even last week, the price merely got corrected a bit lower. This week, the support lines at 1.1250 and 1.1200 should do a good job in preventing further southwards movement, as the bulls effect a nice rally, which would take the price towards the resistance lines at 1.1400 and 1.1450. Some EUR pairs could also rally this week.

USD/CHF: Although this pair trended upward last week in the context of a downtrend, there is not yet a Bullish Confirmation Pattern in the chart. In case the price moves further upwards by 150 pips, there would be a confirmed bullish signal in the market. Nonetheless, there is going to be a bearish journey this week, which would strengthen the recent bearish outlook and enable the price to reach the support levels at 0.9600, 0.9650 and 0.9500.

GBP/USD: The Cable was very volatile last week, with no clear victory between the bulls and the bears. There should be a directional movement this week, which would most probably favor the bulls. A wave of rally should carry the price to the distribution territories at 1.4300 and 1.4350 this week. Stamina should also be witnessed on other GBP pairs this week, like GBP/CAD.

USD/JPY: This currency trading instrument moved upwards by 190 pips between Monday and Thursday last week. On Friday, the price, however, got corrected lower in solidarity with the extent bearish bias in the market. Rallies should be seen as short-selling opportunities because the price is expected to trend lower this week.

EUR/JPY: The EUR/JPY went sideways throughout last week. The market has been caught in an equilibrium phase but, but there would be a breakout this week. The EUR/JPY cross, which closed below the supply zone at 123.00 on Friday, is expected to trend lower this week, reaching the demand zones at 122.00 and 121.50.

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294

The markets opened this week with minor gaps in some cases, which harbinger serious trending movements this week. The EUR/JPY gapped into the demand zone at 122.00, and later bounced upwards in the context of a downtrend. The price is supposed to continuing moving upwards, possibly invalidating the extent bearish bias before the end of the week.

EUR/USD: The markets opened this week with minor gaps in some cases, which harbinger serious trending movements this week. The EUR/USD did not move significantly on Monday but it would soon start moving in a trending mode. When the trending monde is assumed, it would most probably favor the bulls.

USD/CHF: This pair did not move seriously yesterday. Nonetheless, there is going to be a bearish journey this week, which would strengthen the recent bearish outlook and enable the price to reach the support levels at 0.9600, 0.9650 and 0.9500.

GBP/USD: The Cable moved upwards on April 18, 2016, closing above the accumulation territory at 1.4250. There is a “buy” signal in the market, at least in the short-term, owing to the fact that the EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. The next target for the bulls are the distribution territories at 1.4300 and 1.4350.

USD/JPY: This currency trading instrument gapped down at the beginning of this week and later bounced upwards in the context of a downtrend. There is a Bearish Confirmation Pattern in the chart, which might not be jeopardized unless the price goes above the supply zones at 109.50 and 110.00.

EUR/JPY: The EUR/JPY gapped into the demand zone at 122.00, and later bounced upwards in the context of a downtrend. The price is supposed to continuing moving upwards, possibly invalidating the extent bearish bias before the end of the week.

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295

As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY, etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150, and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GPB pairs.

EUR/USD: The bulls tried seriously to push this pair upwards, but following the volatility we witnessed here last week Thursday, the price came down on Friday. This has resulted in a “sell” signal in the market – further bearish movement is possible this week. But this does not rule out the possibility of an upward bounce, which might not threaten the current “sell” signal unless the resistance level at 1.1450 is overcome buy the bulls.

USD/CHF: The bears threatened to push the USD/CHF lower, but their effort was thwarted on Wednesday as the price started moving upwards. This has resulted in a Bullish Confirmation Pattern in the market. The price, which closed above the support level at 0.9750, would reach the resistance levels at 0.9800 and 0.9850 this week. The only hindrance to this bullish bias would be an expected rally on the CHF, which might affect CHF pairs.

GBP/USD: As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY, etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150, and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GPB pairs.

USD/JPY: Following the minor gap down into the demand level at 108.00 at the beginning of last week, this currency trading instrument started a bullish journey, which occurred gradually and gained momentum on Friday, April 22, 2016. The price closed above the demand level at 111.50; poised for further northward movement, which would be at least, 150 pips this week. As an aside, JPY pairs might also be weakened before the end of the month. Please watch JPY pairs.

EUR/JPY: There is now a Bullish Confirmation Pattern on the EUR/JPY. The price moved upwards by 360 pips last week, and it could move further upwards this week. Short trades are no longer advisable here until there is an indication of bears’ hegemony, which is possible before the end of April 2016.

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296

The GBP/USD was able to move upwards on Monday, following the rally that started last week. The price has now moved towards the distribution territory at 1.4500, trying to break it to the upside. The distribution territory could be broken to the upside today, owing to a Bullish Confirmation Pattern in the chart, targeting another distribution territory at 1.4550.

EUR/USD: On April 25, 2016, this pair bounced upwards in the context of a downtrend. The downtrend is still a valid thing, therefore the upwards bounce could be seen as a short-selling opportunity, provided the price does not go above the resistance line at 1.1400. The bears might target the support line at 1.1200 and 1.1150 this week.

USD/CHF: The market came down slightly yesterday in the context of an uptrend. The uptrend is supposed to continue today or tomorrow, turning the current price action into a buying opportunity. As it was said earlier this week though, there is a possible obstacle in the way of this uptrend, and that is the expected stamina in the CHF, which would also be visible on other CHF pairs.

GBP/USD: The GBP/USD was able to move upwards on Monday, following the rally that started last week. The price has now moved towards the distribution territory at 1.4500, trying to break it to the upside. The distribution territory could be broken to the upside today, owing to a Bullish Confirmation Pattern in the chart, targeting another distribution territory at 1.4550.

USD/JPY: Yesterday, this currency trading instrument dipped slightly in the context of an uptrend. The uptrend is still a valid thing, therefore the upwards dip could be seen as a buying opportunity, provided the price does not go below the demand level at 109.00. The bulls might target the supply levels at 112.00 and 112.50 this week. However, it should be borne in mind that JPY could gain stamina before the end of this month, which would cause other JPY pairs to trend downwards.

EUR/JPY: This is a bull market in the near-term. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. It is possible that the price goes further upwards from here, reaching the supply zone at 126.00; the only obstacle in the way being the expected stamina in the JPY.

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297

The EUR/USD went upwards by 230 pips last week. The movement was a week long and that has resulted in a bullish bias in the market. The resistance line at 1.1450 has already been tested and the price is expected to go above it this week, testing another resistance lines at 1.1500 and 1.1550.

EUR/USD: The EUR/USD went upwards by 230 pips last week. The movement was a week long and that has resulted in a bullish bias in the market. The resistance line at 1.1450 has already been tested and the price is expected to go above it this week, testing another resistance lines at 1.1500 and 1.1550.

USD/CHF: This pair also went down throughout last week, owing to the stamina in the EUR/USD and the CHF. The price closed below the resistance level at 0.9600 on Friday, April 29, 2016. The price had already fallen by 220 pips – leading to a Bearish Confirmation Pattern in the market. Further bearish movement is expected this week.

GBP/USD: The Cable went upwards gradually last week, sustaining the bullish trend which started two weeks ago. The bulls fought a decisive battle at the distribution territory of1.4600 (which is now an accumulation territory). They are now fighting another desperate battle at the distribution territory of 1.4650, which would be overcome because the outlook on the Cable is bright for the month of May (it is also bright for crosses like GBP/AUD, and GBP/NZD).

USD/JPY: This pair moved sideways between Monday and Wednesday and dropped like a stone on Thursday. That drop was strong enough to bring about a new Bearish Confirmation Pattern in the 4-hour chart. The EMA 11 has gone below the EMA 56, while the RSI period 14 is below the level 50. The price is expected to go further south, reaching the demand levels at 106.00 and 105.50. This bearishness would also be visible on other JPY pairs this month.

EUR/JPY: The EUR/JPY went upwards from Monday to Wednesday last week, but broke down as a result of the fundamental figures released on Thursday, April 28, 2016. The price skydived by 450 pips, almost testing the demand zone at 121.50. This large pullback has resulted in a bearish signal in the market, for the price is supposed to go further south this week. Other JPY pairs are also bearish and as a result of this, long trades are not currently logical on JPY pairs until there are clear reversals on them. However, there could be a rally on JPY pairs at the end of May 2016.

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298

The USD/CHF went downwards on Monday, in solidarity with the bearish signal that started last week. As it was forecasted, the price has gone below the resistance level at 0.9600, targeting the support level at 0.9500; which would be broken to the downside very soon. The bias on the market is bearish.

EUR/USD: The EUR/USD went upwards on Monday, in solidarity with the bullish signal that started last week. As it was forecasted, the price has gone above the support line at 1.1500, targeting the resistance line at 1.1550; which would be broken to the upside very soon. The bias on the market is bullish.

USD/CHF: The USD/CHF went downwards on Monday, in solidarity with the bearish signal that started last week. As it was forecasted, the price has gone below the resistance level at 0.9600, targeting the support level at 0.9500; which would be broken to the downside very soon. The bias on the market is bearish.

GBP/USD: The GBP/USD has gone above the accumulation territory at 1.4650, targeting the distribution territory at 1.4700. There is a Bullish Confirmation Pattern in the market, and further bullish movement is possible. This week, the distribution territories at 1.4750 and 1.4800 would be overcome.

USD/JPY: This pair moved sideways yesterday, in the context of a downtrend. The EMA 11 has gone below the EMA 56, while the RSI period 14 is below the level 50. The price is expected to go further south, reaching the demand levels at 106.00 and 105.50. This bearishness would also be visible on other JPY pairs this month.

EUR/JPY: At the beginning of this week, this cross bounced slightly upwards in a context of a downtrend. The upwards bounce pales into insignificance when compared to the recent bearish outlook on the market. Further bearish movement is possible, and the “sell” signal cannot be jeopardized unless the price goes upwards by 300 pips (which seems unlikely right now).

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299

The USD/CHF went down on Monday and Tuesday, dipping into the support level at 0.9450. From that support level, further downward movement was rejected as the price started a smooth rally, which took it above the support level at 0.9700. This has resulted in a bullish signal: the price is expected to rally further this week. The outlook on the USD is now bright.

EUR/USD: This pair moved upwards on Monday and Tuesday, tested the resistance line at 1.1600, and then started a bearish movement. From the resistance line at 1.1600, the price dipped by 200 pips, to close at 1.1403 on Friday (May 6, 2016). Bears would target the support lines at 1.1350 and 1.1300 this week, because some weakness is expected in the EUR.

USD/CHF: The USD/CHF went down on Monday and Tuesday, dipping into the support level at 0.9450. From that support level, further downward movement was rejected as the price started a smooth rally, which took it above the support level at 0.9700. This has resulted in a bullish signal: the price is expected to rally further this week. The outlook on the USD is now bright.

GBP/USD: After testing the distribution territory at 1.4750, the GBP/USD dropped down by 320 pips, closing below the distribution territory at 1.4450. This kind of southward reversal has already resulted in a bearish outlook on the market. The GBP should be seen strengthening versus some currencies, though it might be facing some difficulties as regards a rally against the USD, because the USD would be strong this week.

USD/JPY: The USD/JPY only moved sideways last week, in the context of a downtrend. The bearish bias on the market is still valid, and further downwards movement is possible. The only exception being that, a possible rally in the USD might make it somewhat challenging for the bears to push the price further downwards this week.

EUR/JPY: This currency trading instrument also consolidated throughout last week, with very short-term upwards and downward swings in the market. The bears are still willing to push the price lower; since the outlook on JPY pairs is bearish right now. It is possible that the price would test the demand zones at 121.50, 121.00, and 120.50 this week.

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300

The GBP/USD continued its consolidation to the downside on Monday, leading to a bearish signal in the market. There is now a Bearish Confirmation Pattern in the market and it is possible that the price would continue going south, owing to expected strength in the USD. However, there are exception to the rules: the GBP would continue strengthening against other currencies.

EUR/USD: The perpetual bearish movement here – though slow and steady – has resulted in a “sell” signal in the market. The price is under the resistance line at 1.1400 and it would go further south from there, targeting the support lines at 1.1300 and 1.1250 within today or tomorrow.

USD/CHF: There is a clean bullish bias on the USD/CHF: the price is above the support level at 0.9700, going further towards the resistance levels at 0.9800 and 0.9850. There might be occasional dips along the way, but the bulls are supposed to be the winners this week. The outlook on the USD is now bright.

GBP/USD: The GBP/USD continued its consolidation to the downside on Monday, leading to a bearish signal in the market. There is now a Bearish Confirmation Pattern in the market and it is possible that the price would continue going south, owing to expected strength in the USD. However, there are exception to the rules: the GBP would continue strengthening against other currencies.

USD/JPY: On this currency trading instrument, there was a serious rally yesterday, which took the price upwards from demand level at 106.50, to the supply level at 108.50. That was a movement of 200 pips, and the EMA 11 is almost crossing the EMA 56 to the upside on the 4-hour chart (as the RSI period 14 is clearly above the level 50). The bias on the market has turned bullish.

EUR/JPY: This cross also went upwards on May 9, 2016; just like the USD/JPY has done. The price is now above the EMA 56 (effectively above the demand zone at 123.00). Further movement of about 150 pips would result in a “buy” signal in the market.

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301

The EURUSD went downwards last week – a movement that has generated a bearish signal in the 4-hour chart. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.

EUR/USD: The EURUSD went downwards last week – a movement that has generated a bearish signal in the 4-hour chart. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.

USD/CHF: The near-term bias on this pair is bullish, since it went in the opposite direction to the EUR/USD. This week, further movement to the upside is anticipated because the outlook on USD is bright for the week. Therefore, we could see pairs like the AUD/USD, the NZD/USD, etc. getting affected (of course, the USD/CHF would go up).

GBP/USD: The Cable simply moved sideways most of last week, save the slight dip that was witnessed on Friday. A closer look at the market reveals that the bears have some form of dominance over the bulls. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. In the face of the expected stamina in the USD, the Cable might test the accumulation territories at 1.4300, 1.4250, and 1.4200 this week.

USD/JPY: The bias on the USD/JPY is bullish, though this is something precarious. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the hand, a movement below the demand level at 107.50 would mean a new lease of bearish outlook. This week would determine what would happen next.

EUR/JPY: Here, the bullish gains that were realized in the first few days of last week were forfeited in the last few days of the same week. There is currently no dominant bias on the market and the indicators are even giving mixed signals. It is better to wait for a directional movement before taking a position. Conditions surrounding the Yen would dictate the event on this cross this week (as well as on other JPY pairs).

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302

The bias on the USD/JPY, which simply went flat on Monday, is bullish, though this is something precarious. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the hand, a movement below the demand level at 107.50 would mean a new lease of bearish outlook.

EUR/USD: This pair went slightly upwards on Monday – an insignificant thing in the context of a downtrend. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.

USD/CHF: The market slightly went upwards yesterday, going above the support level at 0.9750, and targeting the resistance level at 0.9800. The bulls are still determined to push the price higher, and since there is a Bullish Confirmation Pattern in the chart, it is logical to expect further rally.

GBP/USD: This is a flat market, but there is a possibility that the price could go further downwards, at closer look. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The market should move further southwards, testing the accumulation territories at 1.4350 and 1.4300.

USD/JPY: The bias on the USD/JPY, which simply went flat on Monday, is bullish, though this is something precarious. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the hand, a movement below the demand level at 107.50 would mean a new lease of bearish outlook. Today or tomorrow would determine what the market will do.

EUR/JPY: The bulls made a faint attempt to go upwards on May 16; and this has caused mixed signals in the 4-hour chart. It is better to stay away from the market until there is a strong movement in one direction. This week, a strong movement in one direction is expected any moment.

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303

As it was forecasted, the USD/CHF was able to move upwards by 160 pips last week, closing above the support level at 0.9900. The next target should be the resistance level at 1.0000, which means a parity area for USD versus CHF. However, there is one challenge the bulls might face this week, and that is the anticipated rally in CHF, which would make it difficult for the bulls to push price far higher.

EUR/USD: In the opposite direction to the USD/CHF, the EUR/USD moved last week. The price closed below the resistance line at 1.1250, as it threatens to test the support line at 1.1200. This support line, including another support line at 1.1150, might be tested this week. Nevertheless, it is possible that the EUR would rally this week – an event that could thwart the extant bullishness in the market.

USD/CHF: As it was forecasted, the USD/CHF was able to move upwards by 160 pips last week, closing above the support level at 0.9900. The next target should be the resistance level at 1.0000, which means a parity area for USD versus CHF. However, there is one challenge the bulls might face this week, and that is the anticipated rally in CHF, which would make it difficult for the bulls to push price far higher.

GBP/USD: This pair moved upwards by 300 pips last week, and later dropped by 140 pips, to close at 1.4506. There would have been a Bullish Confirmation Pattern in the 4-hour chart, but the bearish correction is conspicuous enough to force the market back into a neutral zone. Nevertheless, the most probably direction this week is northwards.

USD/JPY: This market is bullish – having moved upwards by 170 pips last week. The EMA 11 is above the EMA 56, while the RSI period 14 is above the level 50. Further upwards movement is anticipated. The price is now above the demand level at 110.00, and the next target is the supply level at 111.00. Certain other JPY pairs could also go bullish this week.

EUR/JPY: The EUR/JPY has moved sideways throughout last week, with price not going above the supply zone at 124.50 or going below the demand zone 122.50. A breakout would happen this week, which would take the market out of the equilibrium zones. The higher probability is a breakout in favor of the bulls.

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304

The EUR/JPY moved lower on Monday, out of the current equilibrium phase in the market. For this not appear like a false breakout, the price would need to go below the demand zone at 122.50. Otherwise, any rally from the current price location in the 4-hour chart would force the market back into the equilibrium phase.

EUR/USD: On the EUR/USD, The support line at 1.1200, including another support line at 1.1150, might be breached this week. Nevertheless, it is possible that the EUR would rally – an event that could thwart the extant bullishness in the market.

USD/CHF: The USD/CHF is still in a bullish mode, though the price simply went flat on Monday. The next target should be the resistance level at 1.0000, which means a parity area for USD versus CHF. However, there is one challenge the bulls might face this week, and that is the anticipated rally in CHF, which would make it difficult for the bulls to push price far higher.

GBP/USD: The Cable did not make any significant movement on May 23, 2016, and the market remains in a neutral territory. There is a certain degree of ambiguity surrounding the Cable right now. Further southwards movement of 150 pips would result in a bearish signal. Further bullish movement of 150 pips would result in a bullish signal.

USD/JPY: Yesterday, this market got corrected by 120 pips. There are mixed signals in the chart: The EMA 11 is still above the EMA 56, while the RSI period 14 is below the level 50. It is better to stay out of the market until there would be a confirmed bias. A movement below the demand level at 108.50 would result in a bearish signal; whereas a movement above the supply level at 111.00 would reinforce the recent bullish outlook.

EUR/JPY: The EUR/JPY moved lower on Monday, out of the current equilibrium phase in the market. For this not appear like a false breakout, the price would need to go below the demand zone at 122.50. Otherwise, any rally from the current price location in the 4-hour chart would force the market back into the equilibrium phase.

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305

The USD/CHF managed to go upwards a little on Friday, having consolidated in the first few days of the week. The bulls are still willing to push price northward, and there is a possibility that the resistance levels at 0.9950 and 1.0000 (a parity zone) would be tested. However, it is unlikely that the resistance level at 1.0000 would be broken to the upside, since there is also a threat from CHF, which might gain some stamina before the end of the week.

EUR/USD: As it was projected, the EUR/USD went south by roughly 110 pips last week, closing at 1.1114 on Friday, May 27, 2016. There is a strong Bearish Confirmation Pattern in the market: It is expected that the market would continue to trend lower as long as the USD is stronger than the EUR. Any signs of vulnerability in the USD would cause this pair to skyrocket.

USD/CHF: The USD/CHF managed to go upwards a little on Friday, having consolidated in the first few days of the week. The bulls are still willing to push price northward, and there is a possibility that the resistance levels at 0.9950 and 1.0000 (a parity zone) would be tested. However, it is unlikely that the resistance level at 1.0000 would be broken to the upside, since there is also a threat from CHF, which might gain some stamina before the end of the week.

GBP/USD: This pair went upwards by 200 pips last week; but further bullish movement was rejected as at the distribution territory at 1.4700, which effected an 80-pip correction. That correction has not put the bullish bias on the market in a precarious position, unless price goes below the accumulation territory at 1.4450 (which requires a great deal of selling pressure. The most likely direction this week is northward.

USD/JPY: The bias on this market has turned neutral, though a closer look at the price reveals that the bulls are still willing to push the price higher, if they would be freed from the bears’ clutches. There are currently mixed signals in the market, and swing traders might want to stay off until there is a directional movement. A breakout is imminent this week. The more the consolidation phase hold outs, the closer the expected breakout occurrence, plus the more predictable the breakout would be when it does occur.

EUR/JPY: The EUR/JPY cross has moved sideways so far this week, and thus, hope of a serious breakout today is very weak. However, there may be a strong breakout this week which would push the price below the demand zone at 122.00 or above the supply zone at 124.00.

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306

As it was said earlier, the bulls were willing to push USD/JPY further upwards, and that was what they did on Monday. The price moved upwards by 120 pips, now above the demand level at 111.00. The next targets are the supply levels at 111.50 and 112.00. Since there is a bullish signal in the market, those supply levels would be tested today or tomorrow.

EUR/USD: There is still a Bearish Confirmation Pattern in the 4-hour chart; and in spite of the shallow bullish attempt that occurred yesterday, in the context of a downtrend. The price might test the support lines at 1.1100; or even go below that. This expectation is logical, unless the USD shows any signs of vulnerability.

USD/CHF: The USD/CHF consolidated on May 30, 2016. The bulls are still willing to push price northward, and there is a possibility that the resistance levels at 0.9950 and 1.0000 (a parity zone) would be tested. However, it is unlikely that the resistance level at 1.0000 would be broken to the upside, since there is also a threat from CHF, which might gain some stamina before the end of the week.

GBP/USD: This currency trading instrument went upwards last week, and later got corrected. That correction has not put the bullish bias on the market in a precarious position, unless price goes below the accumulation territory at 1.4450 (which requires a great deal of selling pressure. The most likely direction this week is northward.

USD/JPY: As it was said earlier, the bulls were willing to push USD/JPY further upwards, and that was what they did on Monday. The price moved upwards by 120 pips, now above the demand level at 111.00. The next targets are the supply levels at 111.50 and 112.00. Since there is a bullish signal in the market, those supply levels would be tested today or tomorrow.

EUR/JPY: There is a Bullish Confirmation Pattern in the EUR/JPY 4-hour chart. The EMA 11 has crossed the EMA 56 to the upside, while the RSI period 14 is above the level 50. The current bullish breakout is yet nothing significant: It would be significant only after the price goes above the supply level at 124.50.

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307

The USD/JPY dropped 450 pips last week, testing the demand level at 106.50. The next target to be reached is the demand level at 105.50, since there is a Bearish Confirmation Pattern in the market. There is also a possibility of bullish reversal this week.

EUR/USD: This pair shot upwards on Friday, overturning the bearish outlook on the market. Since price has moved upwards by 220 pips, a bullish signal has been formed. However, EUR needs to continue to be stronger than USD for this pair to continue moving upwards; otherwise things could reverse on favor of bears. After all, the outlook on EUR is bearish for the month of June.

USD/CHF: The USD/CHF consolidated from Monday to Friday and then plummeted on Friday. The bearish movement was very serious – occurring opposite to the direction of the EUR/USD. Further bearish movement could cause price to reach the support levels at 0.9700 and 0.9650 this week.

GBP/USD: Cable went up towards the distribution territory at 1.4700, where further rally was halted as price declined towards the accumulation territory at 1.4400. That was a 300-pip movement. Despite determined efforts from bears, price was unable to go below the accumulation territory at 1.4400, and as such, there is a rally expectation on the GBP/USD. GBP pairs would move seriously this month – in bearish and bullish modes.

USD/JPY: The USD/JPY dropped 450 pips last week, testing the demand level at 106.50. The next target to be reached is the demand level at 105.50, since there is a Bearish Confirmation Pattern in the market. There is also a possibility of bullish reversal this week.

EUR/JPY: This cross tested the supply zone at 124.00, and then dropped by 300 pips last week. Price closed at 121.07 on Friday, just below the supply zone at 121.50. Further decline is possible, which might take price towards demand zones at 120.50 and 120.00. There is also a possibility of reversal this week.

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308

The USD/CHF traded lower on Monday, going below the resistance level at 0.9750. Price is now close to the support level at 0.9700, which would be broken to the downside as price goes further downwards to another support level at 0.9650.

EUR/USD: This pair simply went flat on June 6, but a closer look at the market reveals that bulls are still willing to push the market further upwards. Since there is a Bullish Confirmation Pattern in the market, the resistance lines at 1.1400, 1.1450 and 1.1500 would be tested as price goes further upwards.

USD/CHF: The USD/CHF traded lower on Monday, going below the resistance level at 0.9750. Price is now close to the support level at 0.9700, which would be broken to the downside as price goes further downwards to another support level at 0.9650.

GBP/USD: This currency trading instrument is quite choppy right now, though in the context of a downtrend. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. These are mixed signals, but it also means that when price becomes predictable and directional again, it might be in favor of the bears.

USD/JPY: The USD/JPY rallied by 100 pips on Monday – in the context of a downtrend. Further rally is possible, though there would be some opposition from bears. The bearish outlook on the market would be valid as long as price does not go above the supply level 109.50 (a situation that would require a strong buying pressure).

EUR/JPY: There was a rally yesterday, which moved the EUR/JPY cross above the demand zone at 122.00. Since the RSI period 14 is above the level 50, it is easy for the bias to turn bullish once price goes above the supply zone at 123.50. However, bulls would meet a serious opposition on the way upwards; and in case they are not determined enough, they would be overpowered as price declines further from there.

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The EUR/USD has become neutral in the short-term. May 2016 was mostly bearish, and the bullish breakout that was witnessed on June 3 overturned that bearish bias. However, bulls were unable to push the price further north last week, for the bullish movement was halted at the resistance line of 1.1400, which was followed by a 150-pip bearish correction. For the bias to turn completely bearish, the price must go below the support line at 1.1150. Otherwise we shall witness a rally that could restore the recent bullish outlook.

EUR/USD: The EUR/USD has become neutral in the short-term. May 2016 was mostly bearish, and the bullish breakout that was witnessed on June 3 overturned that bearish bias. However, bulls were unable to push the price further north last week, for the bullish movement was halted at the resistance line of 1.1400, which was followed by a 150-pip bearish correction. For the bias to turn completely bearish, the price must go below the support line at 1.1150. Otherwise we shall witness a rally that could restore the recent bullish outlook.

USD/CHF: The USD/CHF is in a bearish mode. The price dropped by 180 pips last week, going briefly below the support level at 0.9600, before closing above it. There is a Bearish Confirmation Pattern in the chart, and the price is expected to continue moving lower and lower, reaching the support levels at 0.9600, 0.9550 and 0.9500.

GBP/USD: From Monday to Tuesday, The Cable went upwards by 250 pips, testing the distribution territory at 1.4700, before nose-diving by 400 pips in the last 3 trading days of the week. It was mentioned that serious volatility would be witnessed on GBP pairs this month – the catalyst being Brexit/Bremain issues. There would be great trading opportunities here.

USD/JPY: This pair simply went flat last week. The bullish effort that was made on Monday was not significant enough to cause any threat to the bears. The outlook on JPY pair is bearish for this week: and the USD/JPY is no exception. Therefore, the bears might target the demand levels at 106.00 and 105.50.

EUR/JPY: The bullish effort that was seen on June 6 and 7 was merely an opportunity to go long in the context of a downtrend. The price started coming down after that, testing the demand zone at 120.00. The demand zone could be retested again – it could even be broken to the downside.

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The GBP/USD spiked upwards on Monday, and so did other GBP pairs, doing that in the context of a downtrend. Volatility has started in the market since last week, and it would last till the end of this month. It is expected that the GBP/USD would continue moving downwards, reaching the accumulation territory at 1.4100 and 1.4000.

EUR/USD: This pair did nothing significant yesterday; though the outlook on the market has not turned completely bearish. Today or tomorrow would determine what would happen in the market. A movement below the support line at 1.1150 would result in a bearish bias, while a movement above the resistance line at 1.1350 would enforce the recent bullish bias.

USD/CHF: The USD/CHF is in a bearish mode, since there is a Bearish Confirmation Pattern in the chart, and the price is expected to continue moving lower and lower, reaching the support levels at 0.9600, 0.9550 and 0.9500. As long as price does not go above the resistance level at 0.9800, there cannot be a threat to the bearish outlook.

GBP/USD: The GBP/USD spiked upwards on Monday, and so did other GBP pairs, doing that in the context of a downtrend. Volatility has started in the market since last week, and it would last till the end of this month. It is expected that the GBP/USD would continue moving downwards, reaching the accumulation territory at 1.4100 and 1.4000.

USD/JPY: This pair moved slightly south on June 13. The bullish effort was not significant enough to cause any threat to the bears. The outlook on JPY pair is bearish for this week: and the USD/JPY is no exception. Therefore, the bears might target the demand levels at 106.00 and 105.50.

EUR/JPY: This cross was simply volatile yesterday – with no directional movement. It is expected that price would continue moving downwards, in solidarity with the bearish expectation on the JPY pairs. The cross could thus test the demand zones at 119.00 and 118.00 today or tomorrow.

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