Instaforex Trading Forecasts

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335

The USD/JPY dropped by 260 pips from Monday to Wednesday and then started going upward from Thursday and closing above the demand level at 102.50 on Friday. The bias on the pair, as well as other JPY pairs, is bullish for this week. Thus price could reach the supply levels at 103.50 and 104.00 this week. The supply level at 103.00 was already tested last week and it could be rested this week.

EUR/USD: The EUR/USD price moved upwards 150 pips, testing the resistance line at 1.1300 before getting corrected downwards on Thursday and Friday. It is expected that price would continue going upwards this week, therefore making the pullback of Friday a good opportunity to go long at better prices. The outlook on EUR is bullish, so you might want to watch other EUR pairs (some of which has already started moving upwards).

USD/CHF: There are interesting factors which would contribute to a bearish movement of this currency trading instrument this week. The EUR/USD would go upwards, which would cause the USD/CHF to trend downwards. USD itself would be weak and CHF would gather some stamina (please watch CHF pairs). This week, bears would target the support levels at 0.9700 and 0.9650.

GBP/USD: The bias on the Cable is bearish in the long-term. Some effort was made last week, to push market upwards, but bears came in to push it downwards, as it closed at 1.3266 on Friday. A movement below the accumulation territory at 1.3100 would result in stronger Bearish Confirmation Pattern in the chart. A movement above the distribution territory at 1.3450 would result in a bullish bias in the near-term.

USD/JPY: The USD/JPY dropped by 260 pips from Monday to Wednesday and then started going upward from Thursday and closing above the demand level at 102.50 on Friday. The bias on the pair, as well as other JPY pairs, is bullish for this week. Thus price could reach the supply levels at 103.50 and 104.00 this week. The supply level at 103.00 was already tested last week and it could be rested this week.

EUR/JPY: This currency trading instrument went down 200 pips from Monday till Wednesday and started going upward from that day – an action which resulted in a bullish signal in the 4-hour chart. Price is supposed to continue going upwards this week, targeting the supply zones at 116.00 and 116.50. EUR would be strong and JPY would be weak.

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336

The USD/JPY trended a bit lower on Monday, thus creating a short-term bearish signal in the market. Price may test the demand levels at 101.50 and 100.00 this week, going further southwards

EUR/USD: This pair did nothing significant yesterday. It is expected that price would continue going upwards this week, therefore making the pullback of Friday a good opportunity to go long at better prices. The outlook on EUR is bullish, so you might want to watch other EUR pairs (some of which has already started moving upwards).

USD/CHF: The USD/CHF simply consolidated on Monday. The EUR/USD would go upwards this week, which would cause the USD/CHF to trend downwards. USD itself would be weak and CHF would gather some stamina (please watch CHF pairs). This week, bears would target the support levels at 0.9700 and 0.9650.

GBP/USD: The Cable moved sideways on September 12, 2016 – in the context of an uptrend. While the overall outlook is bearish, the near-term trend is bullish. This week, the bulls may target the distribution territories at 1.3350, 1.3400 and 1.3450. As long as price does not go below the accumulation territory at 1.3150, the near-term bullish outlook would be logical.

USD/JPY: The USD/JPY trended a bit lower on Monday, thus creating a short-term bearish signal in the market. Price may test the demand levels at 101.50 and 100.00 this week, going further southwards. The supply level at 103.00 would try to challenge bullish attempts along the way.

EUR/JPY: There is now a Bearish Confirmation Pattern in the EUR/JPY market (especially the 4-hour chart). There are demand zones at 114.00 and 113.50, which might be tested by bears. Further movement towards the south is possible today or tomorrow.

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337

The GBP/USD trended downwards slowly last week, and later dropped like a stone on Friday, September 16, 2016. The bias is bearish in the short-term and the long-term. Price is thus expected to continue moving downwards this week, reaching the accumulation territories at 1.2950 and 1.2900. GBP pairs, except the EURGBP, have also been going downwards.

EUR/USD: Had this pair moved sideways from September 12 to 16, the bias on it would have turned neutral. However, the market dropped 85 pips on Friday, closing at 1.1153. This has resulted in a bearish signal. As long as the resistance line at 1.1300 is not breached to the upside, the bearish signal would be valid.

USD/CHF: This currency trading instrument consolidated from Monday till Thursday and then trended upwards on Friday. The upwards movement was not significant enough to put an end to the ongoing neutral outlook. Once price goes above the resistance level at 0.9850, there would be a bullish signal, which would even become stronger as soon as the resistance level at 0.9900 is breached to the upside.

GBP/USD: The GBP/USD trended downwards slowly last week, and later dropped like a stone on Friday, September 16, 2016. The bias is bearish in the short-term and the long-term. Price is thus expected to continue moving downwards this week, reaching the accumulation territories at 1.2950 and 1.2900. GBP pairs, except the EURGBP, have also been going downwards.

USD/JPY: This pair simply consolidated throughout last week, not going below the demand level at 101.50 nor above the supply level at 103.50. The bias is neutral, but momentum is expected to rise this week, which would most probably take price towards the demand levels at 101.50 and 101.00 this week.

EUR/JPY: This cross pair trended downwards on Monday, and went upwards on Tuesday, only to top at 116.08 on Wednesday and began to trend downwards till Friday (a movement of 200 pips southward). There is a Bearish Confirmation Pattern in the market and the demand zones at 114.00, 113.50 and 113.00 would be tested this week. The outlook on other JPY pairs are also bearish.

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338

This pair simply consolidated throughout last week, not going below the demand level at 101.50 nor above the supply level at 103.50. Price did not go directionally yesterday. The bias is neutral, but momentum is expected to rise this week, which would most probably take price towards the demand levels at 101.50 and 101.00 this week.

EUR/USD: This pair has been coming downwards gradually and it has resulted in a Bearish Confirmation Pattern in the market. Further southward movement is expected today, for bears are in “temporary control” right now. As long as the resistance line at 1.1300 is not breached to the upside, the bearish signal would be valid.

USD/CHF: There is a short-term “buy” signal on the USD/CHF, and price is intent on going above the resistance level at 0.9800. In case this is successful, the next target would be the support level at 0.9850 and 0.9900, which may cause severe opposition from bulls, since that is a strong resistance level.

GBP/USD: Bulls made some attempt to push the Cable upwards yesterday, but that pales into insignificant when compared to the overall bearish trend in the market. The accumulation territories at 1.3000, 1.2950 and 1.2900 could be tested this week. There is a need for a strong fundamental factor before any meaningful rally can occur in the market.

USD/JPY: This pair simply consolidated throughout last week, not going below the demand level at 101.50 nor above the supply level at 103.50. Price did not go directionally yesterday. The bias is neutral, but momentum is expected to rise this week, which would most probably take price towards the demand levels at 101.50 and 101.00 this week.

EUR/JPY: This cross is bearish in the 4-hour chart, and the demand zone at 113.50 has been tested. Bears are still willing to push price further downwards and thus, the demand zone might be breached downward, going towards other demand zones at 113.00 and 112.50. This might happen any moment this week.

Performed by Azeez Mustapha,
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InstaForex Companies Group

339

The GBP/USD is bearish in the 4-hour and daily charts. Price declined further last week, in spite of bulls’ opposition, and their footprints can be seen in the chart. On the GBP/USD (as well as other GBP pairs), the outlook is bearish, and therefore, further decline is anticipated, which may take price towards the accumulation territories at 1.2950 and 1.2900.

EUR/USD: This pair is neutral in the long-term but bullish in the short-term. There is a Bullish Confirmation Pattern in the chart, and price is supposed to test the resistance lines at 1.1250, 1.1300 and 1.1350. However, there is a need for a very strong buying pressure to achieve this objective.

USD/CHF: Though the market is neutral in the long-term and bearish in the short-term. There is a Bearish Confirmation Pattern in the chart, and price is supposed to test the support levels at 0.9700 and 0.9650 this week. However, there is a need for a very strong selling pressure to achieve this aim.

GBP/USD: The GBP/USD is bearish in the 4-hour and daily charts. Price declined further last week, in spite of bulls’ opposition, and their footprints can be seen in the chart. On the GBP/USD (as well as other GBP pairs), the outlook is bearish, and therefore, further decline is anticipated, which may take price towards the accumulation territories at 1.2950 and 1.2900.

USD/JPY: This trading instrument is a bear market. Price consolidated on Monday and Tuesday, and then came down on Wednesday. It consolidated again towards the market close on Friday. Since the outlook on JPY pairs is bearish for this week, it is expected that the USD/JPY would continue its bearish journey, which would take price towards the demand levels at 100.50 and 100.00.

EUR/JPY: This cross pair also went bearish last week, just as it was prognosticated. Price went briefly below the demand zone at 112.50 and then started making some rally attempts – in the context of a downtrend. Since price is supposed to continue trending downwards this week, the current rally effort could be an opportunity to sell short at better prices.

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340

The USD/JPY made further bearish effort on Monday. Although it was nothing significant, it helped corroborate the ongoing bearish outlook on the market, and as well as other JPY pairs. Price is currently trading below the supply level at 101.50, targeting the demand levels at 101.00 and 99.50.

EUR/USD: This pair made further bullish attempt yesterday, going above the support line at 1.1250 and targeting the resistance line at 1.1300. Should the resistance line be broken to the upside, the next target would be the resistance line at 1.1350. The support line at 1.1250 would act as impediment to near-term bearish forces.

USD/CHF: There is a Bearish Confirmation Pattern in the USD/CHF 4-hour chart. The market is a kind of quiet now, but momentum would soon rise, which would most probably favor bears. The targets for the week are located at the support levels at 0.9650 and 0.9600. As long as price is under the resistance line at 0.9800, the bearish bias would be rational.

GBP/USD: Bears are still showing willingness to push price further southward this week. On the GBP/USD (as well as other GBP pairs), the outlook is bearish, and therefore, further decline is anticipated, which may take price towards the accumulation territories at 1.2950 and 1.2900. The accumulation territory at 1.2950 was tested and it would be tested once again.

USD/JPY: The USD/JPY made further bearish effort on Monday. Although it was nothing significant, it helped corroborate the ongoing bearish outlook on the market, and as well as other JPY pairs. Price is currently trading below the supply level at 101.50, targeting the demand levels at 101.00 and 99.50.

EUR/JPY: Here, bulls still show willingness to push price further southward. Although it was nothing significant, it helped corroborate the ongoing bearish outlook on the cross. Price is currently trading below the supply zone at 113.00, targeting the demand zones at 112.50 and 112.00.

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

341

The EUR/USD has become neutral in the short and long terms. The market did nothing significant last week, save testing the resistance line at 1.1250 and the support line at 1.1150. A rise in momentum would force the market to go above that resistance line or below the support line, which may happen this week.

EUR/USD: The EUR/USD has become neutral in the short and long terms. The market did nothing significant last week, save testing the resistance line at 1.1250 and the support line at 1.1150. A rise in momentum would force the market to go above that resistance line or below the support line, which may happen this week.

USD/CHF: This currency trading instrument is bearish in the short-term, but bullish in the long-term. Further sideways movement is anticipated this week, which would culminate in the market moving seriously upwards or downwards in the week. A sharp fall of EUR/USD would result in a rally in the USD/CHF.

GBP/USD: In the 4-hour and daily charts, the outlook is bearish. The Cable is weak and in spite of the fact that price was caught in an equilibrium phase last week, price may breakout out lower, testing the accumulation territories at 1.2900, 1.2850 and 1.2800 eventually. The accumulation territory at 1.2950 has been tested and it would need to be tested again before price goes further lower. That accumulation territory is adamant; but since the outlook on GBP pairs is bearish for this month of October 2016 (except in a few instances when some pairs would showcase some forms of bullishness), further bearish movement is possible on the Cable.

USD/JPY: This pair is bearish in the long-term and bearish in the short-term. Price moved between the supply level at 102.00 and the demand level at 100.00. There is a need for price to go above the supply level or the demand level so that there could be a directional bias. That is exactly what is anticipated this week.

EUR/JPY: The situation around this cross pair is similar to that of the USD/JPY. The outlook is bearish in the daily chart, but neutral in the 4-hour chart. This week, a movement to the downside would result in a Bearish Confirmation Pattern, while a movement to the upside would threaten it. Since the outlook on EUR pairs is bearish for this month, the EUR/JPY has a high probability of going further south.

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342

Following the volatility contraction that was seen on the Cable last week, price trended downwards yesterday in conjunction with the dominant bearish bias. Price went down by 100 pips yesterday and it could go further south today. Any rallies here would be transitory in nature and would bring good opportunities to sell short.

EUR/USD: The EUR/USD has become neutral in the short and long terms. The market did nothing significant last week (plus on Monday), save testing the resistance line at 1.1250 and the support line at 1.1150. A rise in momentum would force the market to go above that resistance line or below the support line, which may happen this week.

USD/CHF: This pair is making some bullish attempt, which has resulted a new “buy” signal in the market. Although price may not trend upwards significantly, the resistance levels at 0.9750 could be tested and breached to the upside. A strong buying pressure is needed for the resistance level at 0.9800 to be reached.

GBP/USD: Following the volatility contraction that was seen on the Cable last week, price trended downwards yesterday in conjunction with the dominant bearish bias. Price went down by 100 pips yesterday and it could go further south today. Any rallies here would be transitory in nature and would bring good opportunities to sell short.

USD/JPY: By all indication, it is logical to seek long trades in USD/JPY right now. Price has been making some slow and steady bullish attempt, and this has resulted in a Bullish Confirmation Pattern in the 4-hour chart, which reveals that bulls are still willing to push price further upwards.

EUR/JPY: The situation around this cross pair is similar to that of the USD/JPY. Price has been making some slow and steady bullish attempt, and this has resulted in a Bullish Confirmation Pattern in the 4-hour chart, which reveals that bulls are still willing to push price further upwards.

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343

As it was anticipated, The Cable dropped sharply by 880 pips last week, reaching a low of 1.2031. The market then rally by 420 pips, to close at 1.2434 on Friday. The outlook on the market is bullish this week, which is also true of other GBP pairs. This means further rally is expected, but that would not be significant enough to override the extant the major bearish bias.

EUR/USD: This is a trendless market. Price went briefly below the support line at 1.1150 and then got to the resistance line at 1.1200, closing at that price on October 7, 2016. This equilibrium phase might end very soon, but it would require price to go above the resistance line at 1.1300 or below the support line at 1.1050.

USD/CHF: This currency trading instrument went upwards on Monday and Tuesday, dived on Wednesday and went up on Thursday. Then price got corrected lower again on Friday. This trading instrument could go further upwards this week, but that upward movement would be limited by the resistance level at 0.9900. There is also a risk of a downside movement.

GBP/USD: As it was anticipated, The Cable dropped sharply by 880 pips last week, reaching a low of 1.2031. The market then rally by 420 pips, to close at 1.2434 on Friday. The outlook on the market is bullish this week, which is also true of other GBP pairs. This means further rally is expected, but that would not be significant enough to override the extant the major bearish bias.

USD/JPY: This pair moved upwards by 280 pips last week, testing the supply level at 104.00, before getting corrected by over 100 pips, and closing below the supply level at 103.00. There is a Bullish Confirmation Pattern in the chart and further upwards movement is expected this week, which would make the current bearish correction a good opportunity to buy at lower prices when things are on sale, and in the context of an uptrend.

EUR/JPY: The EUR/JPY cross pair is also bullish, with a movement quite similar to that of the USD/JPY, the outlook on the market is now bearish, and price is supposed to go upwards again, and thus end the present correction. The outlook on JPY pairs is bullish for this week, and the EUR/JPY cross could be seen going upwards again, as bulls target the supply zones at 103.50, 104.00 and 104.50.

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344

The USD/JPY trended upwards on Monday, following the bearish correction that was witnessed last Friday. The bias is bullish and price is supposed to continue going upwards, reaching the supply levels at 104.00 and 104.50 this week.

EUR/USD: This is a trendless market, albeit things look choppy right now. Price swings between the resistance line at 1.1250 and the support line at 1.1100. Price needs to go above the resistance line or below the support line, before there could be a directional movement.

USD/CHF: The USD/CHF moved further upwards yesterday, giving more credence to the current Bullish Confirmation Pattern in the market. Today or tomorrow, bulls may be able to target the resistance levels at 0.9850 and 0.9900, although it is unlikely that they would be able to push price above the resistance level at 0.9900. They would meet a fierce opposition at that level.

GBP/USD: Following the flash crash on the Cable (and of course, other GBP pairs), price has threatened to trend further downwards, and while price could really go further downwards, the expectation for this week is bullish. This means the Cable might still go a kind of upwards, though that would not be significant enough to override the long-term bearish bias on the market.

USD/JPY: The USD/JPY trended upwards on Monday, following the bearish correction that was witnessed last Friday. The bias is bullish and price is supposed to continue going upwards, reaching the supply levels at 104.00 and 104.50 this week.

EUR/JPY: The EUR/JPY moved sideways on October 10, 2016. The outlook on the market is now bearish, and price is supposed to go upwards again, and thus end the present correction. The outlook on JPY pairs is bullish for this week, and the EUR/JPY cross could be seen going upwards again, as bulls target the supply zones at 103.50, 104.00 and 104.50.

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

345

The EUR/USD went down by 220 pips last week, closing below the resistance line at 1.1000. There is a strong Bearish Confirmation Pattern in the 4-hour chart, which means further bearish movement is expected this week, and that could take price towards the support lines at 1.0950 and 1.0000. However, it is unlikely that the great support line at 1.0000 would be breached.

EUR/USD: The EUR/USD went down by 220 pips last week, closing below the resistance line at 1.1000. There is a strong Bearish Confirmation Pattern in the 4-hour chart, which means further bearish movement is expected this week, and that could take price towards the support lines at 1.0950 and 1.0000. However, it is unlikely that the great support line at 1.0000 would be breached.

USD/CHF: Just as it was predicted last week, this pair trended upwards 125 pips, testing the resistance level at 0.9900. It should be noted that bulls have repeatedly failed to go above the resistance level. However, due to the extant buying pressure in the market, the resistance level might be breached to the upside, and price may not go significantly upwards following that.

GBP/USD: This currency trading instrument remains bearish, both in long-term and short-term outlook. There is a huge Bearish Confirmation Pattern in the market, and any bullish effort should be taken as sell-shorting opportunities. Price is currently consolidating, but a breakout is imminent this week or next.

USD/JPY: There is still a bullish signal in his market, and there is a Bullish Confirmation Pattern in the chart. As long as price is above the demand level at 101.50, the bullish signal would be valid. Bulls might be able to target the supply levels 105.00 and 105.50 this week.

EUR/JPY: It is better to stay away from this market right now, because there is no directional movement (except one is trading on a very low timeframe, going for quick gains). A close look at the market shows the possibility of price going further south this week, due to the weakness of EUR.

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346

This Cable remains bearish, both in long-term and short-term outlook. There is a huge Bearish Confirmation Pattern in the market, and any bullish effort should be taken as sell-shorting opportunities. Price is currently consolidating, but a breakout is imminent this week or next.

EUR/USD: The EUR/USD bounced upwards in a shallow manner on Monday. There is a strong Bearish Confirmation Pattern in the 4-hour chart, which means further bearish movement is expected this week, and that could take price towards the support lines at 1.0950 and 1.0000. However, it is unlikely that the great support line at 1.0000 would be breached.

USD/CHF: On October 17, 2016, this market made further efforts to challenge the important psychological level at 0.9900. It should be noted that bulls have repeatedly failed to go above the resistance level. However, due to the extant buying pressure in the market, the resistance level might be breached to the upside, and price may not go significantly upwards following that.

GBP/USD: This currency trading instrument remains bearish, both in long-term and short-term outlook. There is a huge Bearish Confirmation Pattern in the market, and any bullish effort should be taken as sell-shorting opportunities. Price is currently consolidating, but a breakout is imminent this week or next.

USD/JPY: Although the USD/JPY experienced a shallow bearish movement yesterday, there is a Bullish Confirmation Pattern in the chart. As long as price is above the demand level at 101.50, the bullish signal would be valid. Bulls might be able to target the supply levels 105.00 and 105.50 this week.

EUR/JPY: It is better to stay away from this market right now, because there is no directional movement (except one is trading on a very low timeframe, going for quick gains). A close look at the market shows the possibility of price going further south this week, due to the weakness of EUR.

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

347

Is it still good to be short EURJPY???

348

The EUR/USD was able to go downwards by more than 100 pips last week. Since October 10, 2016, price has gone down by over 300 pips. The outlook on the market, as well as other EUR pairs, is bearish for this week. Therefore, we may witness a slow and steady bearish movement that would take price towards the support lines at 1.0850 and 1.0800 this week.

EUR/USD: The EUR/USD was able to go downwards by more than 100 pips last week. Since October 10, 2016, price has gone down by over 300 pips. The outlook on the market, as well as other EUR pairs, is bearish for this week. Therefore, we may witness a slow and steady bearish movement that would take price towards the support lines at 1.0850 and 1.0800 this week.

USD/CHF: From October 12 to October 20, bulls laid a decisive to the resistance level at 0.9900, and after much persistent bullish pressure, bears gave way as price went upwards, testing the resistance level at 0.9950, and the retracing bit. Because USD is strong and because CHF is expected to drop further this week (allowing other major pairs to go upwards against it). There may be some bullish movement that would push USD/CHF above the resistance level at 0.9950 this week.

GBP/USD: This currency trading instrument went upwards from Monday till Wednesday, and then consolidated till the end of the week. This is best called a kind of consolidation in the context of a downtrend. The outlook on GBP pairs is bullish for this week, but the bullish movement on the GBP/USD might not be significant enough to threaten the ongoing major bullish bias.

USD/JPY: This market moved sideways throughout last week, but the bullish bias in it is still visible. This week, momentum would rise as price resumes its recent bullish journey, targeting the supply levels at 104.50 and 105.00. The outlook on other JPY pairs is bullish for this week, and the USD/JPY is no exception.

EUR/JPY: One major reason why this cross dropped by 170 pips last week was because EUR is weak. Further weakness in EUR would cause more southward journey, for there is a clean Bearish Confirmation Pattern in the market. However, we may witness some rally in case Yen becomes weaker than EUR this week.

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349

The bullish signal on the USD/JPY remains valid. Bulls are still willing to push price further northwards, and so, the supply levels at 104.50, 105.00 and 105.50 might be tested today or tomorrow.

EUR/USD: There has been a bearish signal on the EUR/USD. The outlook on the market, as well as other EUR pairs, is bearish for this week. Therefore, we may witness a slow and steady bearish movement that would take price towards the support lines at 1.0850 and 1.0800 this week.

USD/CHF: This market went flat on Monday – although in the context of an uptrend. A breakout is supposed to start today or tomorrow, which would favor bulls, plus the next targets for them are located at the resistance levels at 0.9950 and 1.0000. However, it is very much unlikely that the resistance level at 1.0000 would be beached to the upside. That is a great psychological level.

GBP/USD: This currency trading instrument is still consolidating. This is best called a consolidation in the context of a downtrend. The outlook on GBP pairs is bullish for this week, but the bullish movement on the GBP/USD might not be significant enough to threaten the ongoing major bullish bias.
USD/JPY: The bullish signal on the USD/JPY remains valid. Bulls are still willing to push price further northwards, and so, the supply levels at 104.50, 105.00 and 105.50 might be tested today or tomorrow.

EUR/JPY: This cross made a bullish attempt last week, however, in the context of a downtrend. The downtrend would hold out till the supply zone at 115.50 is breached to the upside (a condition that would lead to the end of the short-term bearish bias). Normally, further weakness in the EUR could cause the demand zone at 113.00 to be tested again.

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

350

The EUR/JPY went upwards by 230 pips last week, closing above the demand zone at 115.00 on Friday. There is now a Bullish Confirmation Pattern in the 4-hour chart, and the last candlestick on Friday reveals that bulls are still willing to push price further upwards this week. Therefore, the supply levels at 115.50, 116.00 and 116.50 would be targeted this week. In spite of the weakness in EUR, the market would continue going upwards.

EUR/USD: This market consolidated last week, and trended upwards on Friday. But the upwards attempt has not been strong enough to invalidate the overall bearish bias. This may then be seen as an opportunity to seek short trades, because the outlook on the EUR/USD and most EUR pairs, is bearish this week. The only thing that can reverse this bearish situation in the market is a large pullback in the USD/CHF.

USD/CHF: After a series of hesitation, the USD/CHF was able to go above the decisive resistance level at 0.9900. However, bears came in to push price below that resistance level. The bias on the market remains bullish and further upwards movement is expected, though it is unlikely that price would be able to go above the resistance level at 1.0000, which is an important one. CHF itself may exert some form of bullishness before the end of November 2016, though USD is strong in its own right. A serious buying pressure would be needed for the resistance level at 1.0000 to be breached to the upside; otherwise, a large pullback may occur.

GBP/USD: The Cable has been consolidating for about two weeks – an even that has resulted in a neutral bias in the short-term. The long-term outlook on the market remains bearish and when momentum rises, it would most likely favor the bears. Strong volatility would be witnessed on GBP pairs this week, and some of them would be weaker in most cases.
USD/JPY: This currency trading instrument moved upwards by 160 pips last week, to test the supply level at 105.50. The outlook on JPY pairs is bullish for this week, and the current shallow pullback is seen as another opportunity to buy long when things are on sale, and in the context of an uptrend. The supply levels at 105.50, 106.00 and 106.50 may be tested this week.

EUR/JPY: The EUR/JPY went upwards by 230 pips last week, closing above the demand zone at 115.00 on Friday. There is now a Bullish Confirmation Pattern in the 4-hour chart, and the last candlestick on Friday reveals that bulls are still willing to push price further upwards this week. Therefore, the supply levels at 115.50, 116.00 and 116.50 would be targeted this week. In spite of the weakness in EUR, the market would continue going upwards.

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351

The Cable has been consolidating for about two weeks – an even that has resulted in a neutral bias in the short-term. The long-term outlook on the market remains bearish and when momentum rises, it would most likely favor the bears. Strong volatility would be witnessed on GBP pairs this week, and some of them would be weaker in most cases.

EUR/USD: There seems to be a novel bullish signal on the EUR/USD, owing to what happened in the market on Monday. Price actions reveals willingness to push price further upwards, targeting the resistance lines at 1.1000, 1.1050 and 1.1100. This could lead to a Bullish Confirmation Pattern in the 4-hour chart.

USD/CHF: This currency trading instrument shows a slight weakness on October 31, which almost resulted a bearish signal. However, the outlook for this week is bearish, and the resistance levels at 0.9950 and 1.0000 could be tested. It may not be easy for bulls to push price above the resistance level at 1.0000 because it is an important psychological level.

GBP/USD: The Cable has been consolidating for about two weeks – an even that has resulted in a neutral bias in the short-term. The long-term outlook on the market remains bearish and when momentum rises, it would most likely favor the bears. Strong volatility would be witnessed on GBP pairs this week, and some of them would be weaker in most cases.
USD/JPY: Bulls are still able to uphold the Bullish Confirmation Pattern that is being seen on this pair. The outlook on JPY pairs (the USD/JPY included) is bullish for this week, and therefore, a price movement towards the supply levels at 105.50, 106.00 and 106.00 could be witnessed this week.

EUR/JPY: This is a bull market in the short-term. The bullishness started last week, and it remains intact. The supply zones that are being watched are located at 115.50 and 116.00. The demand zones at 114.00 and 113.50 would impede attempts to push price significantly southwards.

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The GBP/USD went upwards by 370 pips last week, testing the distribution territory at 1.2550. This has led to a bullish bias in the short-term, and additional movement of 1000 pips to the upside would also result in bullish bias on a bigger timeframe like the daily chart. Unless USD gathers lots of stamina this week, bulls would attempt to reach the distribution territories at 1.2600 and 1.2650.

EUR/USD: This market was able to go further upward, following the rally attempt it began on October 28. Since then, price has gone upwards 240 pips, leading to a bullish outlook on the market, Further rally is anticipated this week, for bulls would be willing to target the resistance lines at 1.1150, 1.1200 and 1.1250. The only threat to the current bullish signal is when USD gathers vivid stamina.

USD/CHF: Since this pair could not go above the great psychological level at 1.0000 (even an attempt to reach it on October 25 was forestalled), price dropped sharply last week. The market closed below the resistance level at 0.9700, forming a strong Bearish Confirmation Pattern in the 4-hour chart. Unless USD gathers lots of stamina this week, further bearish movement is possible.

GBP/USD: The GBP/USD went upwards by 370 pips last week, testing the distribution territory at 1.2550. This has led to a bullish bias in the short-term, and additional movement of 1000 pips to the upside would also result in bullish bias on a bigger timeframe like the daily chart. Unless USD gathers lots of stamina this week, bulls would attempt to reach the distribution territories at 1.2600 and 1.2650.

USD/JPY: The USD/JPY went flat on Monday, and then began to decline on Tuesday. Price almost tested the demand level at 102.50, and it would make an attempt to test it this week (it could even breach it to the downside). The recent bullish bias has been rendered invalid because of the decline that was witnessed last week. However, this does not rule out a possibility of bullish attempts on JPY pairs.

EUR/JPY: This currency trading instrument did not do anything significant last week. Price merely underwent some bearish correction in the middle of last week, and then ended with a bullish candle on Friday. By the end of this week, price would have gone above the supply zone at 115.50; or below the demand zone at 113.00.

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The USD/JPY opened this week with a gap-up; a harbinger of strong volatility in the market. Gaps were also witnessed on some other majors, which means strong movements would be seen this week. The USD/JPY is currently above the demand level at 104.50, and bulls may test the supply levels at 105.00.

EUR/USD: The EUR/USD plummeted last week, forming a strong Bullish Confirmation Pattern in the 4-hour chart. On November 7, price merely consolidated in the context of an uptrend. Unless USD gathers lots of stamina this week, further bullish movement is possible.

USD/CHF: The USD/CHF plummeted last week, forming a strong Bearish Confirmation Pattern in the 4-hour chart. On November 7, price merely consolidated in the context of a downtrend. Unless USD gathers lots of stamina this week, further bearish movement is possible.

GBP/USD: There is already a bullish signal in this market, as made evident by a Bullish Confirmation Pattern in the 4-hour chart. Price has been corrected downwards a bit, on Monday; but there cannot be a threat to the current bullish outlook as long as price has not broken the accumulation territory 1.2200 to the downside.

USD/JPY: The USD/JPY opened this week with a gap-up; a harbinger of strong volatility in the market. Gaps were also witnessed on some other majors, which means strong movements would be seen this week. The USD/JPY is currently above the demand level at 104.50, and bulls may test the supply levels at 105.00.

EUR/JPY: The gap-up that has happened on this currency cross has resulted in a bullish signal in the market. Last week showed some hesitation – that has been ended by the gap-up. There is a potential for the market to reach the supply zones at 115.50, 116.00 and 116.50. The supply zone at 115.50 has been tested and it might be tested again.

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The USD/JPY is already in a bullish mode, as forecasted last week. Price consolidated on Friday and closed above the demand level at 106.50. The next target for bulls are located at the supply levels of 107.00, 107.50 and 108.00. The outlook for most JPY pairs is bullish for this week, and therefore, further bullish journey is anticipated.

EUR/USD: The EUR/USD began trending downwards on November 7, but this was seriously interrupted on Wednesday. However, the bearish journey resumed that day, and the market went down by 240 pips overall. The support line at 1.0850 is being besieged, and it might be breached to the downside. On the other hand, there are chances that the EUR/USD would rally this week, especially when the USD/CHF pulls back significantly.

USD/CHF: This pair traded sideways on Monday and Tuesday, pulled back significantly on Wednesday and rallied massively the same day. Price was able to close above the support level at 0.9850, going towards the resistance levels at 0.9900 and 1.0000. The resistance level at 1.0000 is a great psychological level – it would be difficult to breach it to the upside.

GBP/USD: This market consolidated from Monday till Thursday and trended higher on Friday. The bias remains bullish in the short-term and bearish in the long-term. The outlook on the GBP/USD (and some GBP pairs) is bullish for this week. Further movement of about 500 pips to the upside would also result in a bullish signal in the daily chart.

USD/JPY: The USD/JPY is already in a bullish mode, as forecasted last week. Price consolidated on Friday and closed above the demand level at 106.50. The next target for bulls are located at the supply levels of 107.00, 107.50 and 108.00. The outlook for most JPY pairs is bullish for this week, and therefore, further bullish journey is anticipated.

EUR/JPY: Unlike the USD/JPY, this currency trading instrument did not move upwards significantly last week. The market environment is quite choppy, and the possibility of a bullish movement this week would depend on the condition surrounding the Euro. In case price goes upwards, the supply zones at 116.00, 116.50, and 117.00 could be targeted.

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