Instaforex Trading Forecasts

Commercial Content Analysts
354

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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355

The USD/CHF has continued its bullish journey, now above the support level at 0.9950. The great psychological level at 1.0000 has been tested, and it could be tested again. Lots of buying pressure would be needed for the psychological level to be breached to the upside; otherwise a pullback could be witnessed.

EUR/USD: The initial targets at 1.0800 and 1.0750 have been breached by this currency trading instrument. The next targets are located at the support lines of 1.0700 and 1.0650. 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: The USD/CHF has continued its bullish journey, now above the support level at 0.9950. The great psychological level at 1.0000 has been tested, and it could be tested again. Lots of buying pressure would be needed for the psychological level to be breached to the upside; otherwise a pullback could be witnessed.

GBP/USD: This market was engaged in a shallow bearish correction on Monday, while the short-term bias remains bearish. A movement of about 250 pips to the downside would put the short-term bullish bias in jeopardy and strengthen the long-term bearish bias. What would happen today or tomorrow would determine the situation on the market.

USD/JPY: The USD/JPY has been trending upwards strongly. From the low of 101.19, which was reached last Wednesday, price has gone upwards by 730 pips, forming a strong Bullish Confirmation Pattern in the market. The supply level at 108.50 is almost breached to the upside, and it would soon be breached to the upside.

EUR/JPY: This currency cross managed to go further upwards on November 14, 2016. There is already a bullish signal in the market; plus price is above the demand zone at 116.00, going towards the supply zones at 116.50 and 117.00. Since the outlook on JPY pairs is bullish for this week, it is possible that price would end up staying above those supply zones.

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

356

The USD/CHF managed to climb above the great psychological level at 1.0000 last week, and testing the resistance level at 1.0100. Price may be able to target the resistance level at 1.0200 this week, but any signs of weakness in USD may send the pair plunging below the psychological level at 1.0000.

EUR/USD: This pair trended south by 270 pips last week. Since November 9, 2016, it has come down by 700 pips. Further downwards movement is possible this week, provided that USD does not showcase any signs of strength.

USD/CHF: The USD/CHF managed to climb above the great psychological level at 1.0000 last week, and testing the resistance level at 1.0100. Price may be able to target the resistance level at 1.0200 this week, but any signs of weakness in USD may send the pair plunging below the psychological level at 1.0000.

GBP/USD: This pair moved downwards throughout last week, losing another 230 pips. The bias has become bearish in the short and long terms. And the accumulation territories at 1.2250, 1.2200 and 1.2150 might be reached this week. This market is currently not ideal for long trades. Rather, rallies should be seen as opportunities to go short.

USD/JPY: The USD/JPY went upwards by over 400 pips last week. Since November 9, price has gone upwards from the low of that day. There is a huge Bullish Confirmation Pattern in the market, and further northwards journey is anticipated. Just as it was forecasted and true of last week, the outlook on JPY pairs remains bullish for this week. The trending movement on the USD/JPY is the strongest in recent months.

EUR/JPY: This cross also managed to go upwards last week, largely owing to the weakness of Yen. The supply zone at 117.50 has been tested and it would be breached to the upside this week, as bulls target the supply zones at 118.00 and 118.50. Because of the weakness in Yen, even weak currencies like GBP and EUR were able to rally versus it. In case a currency was strong in its own right, just like the case of USD, we would witness a very strong bullish movement, as we have already done.

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357

The Cable moved upwards by 180 pips yesterday – in the context of a downtrend. The upwards movement was not significant enough to override the short-term bearish bias. Further bullish movement of about 200 pips, would however, result in a bullish signal in the 4-hour chart.

EUR/USD: This currency trading instrument simply went flat on Monday. There would soon be a rise in the momentum, and further downwards movement is possible this week, provided that USD does not showcase any signs of strength.

USD/CHF: The USD/CHF did not do much on November 21. It managed to climb above the great psychological level at 1.0000 last week, and testing the resistance level at 1.0100. Price may be able to target the resistance level at 1.0200 this week, but any signs of weakness in USD may send the pair plunging below the psychological level at 1.0000.

GBP/USD: The Cable moved upwards by 180 pips yesterday – in the context of a downtrend. The upwards movement was not significant enough to override the short-term bearish bias. Further bullish movement of about 200 pips, would however, result in a bullish signal in the 4-hour chart.

USD/JPY: The USD/JPY has been going further and further upwards. There is a huge Bullish Confirmation Pattern in the market, and further northwards journey is anticipated. So bulls might target the supply levels at 115.50, 112.00 and 112.50 this week. This kind of bullish movement would hold as long as the Yen is weak.

EUR/JPY: This cross pair moved a bit upwards on Monday, and it is now very close to the supply zone at 118.00. A break above the supply zones at 118.50 and 119.00 is anticipated this week. This should happen unless the Yen gains a considerable amount of stamina, which might result in a large pullback.

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

358

The GBP/USD moved sideways throughout last week, resulting in a neutral bias in the near-term. The neutral bias has been going on for about two weeks, while the dominant bias on higher timeframes is bearish. A break out of the sideways movement is expected this week or next, and would most probably favor bears.

EUR/USD: This pair consolidated throughout last week – in the context of a downtrend. A rise in momentum is expected this week, and it would most probably favor bears. Therefore, the support lines at 1.0550, 1.0500 and 1.0450 would be targeted this week. This pair would make some bullish attempt in due course, but the bearish journey would eventually resume. It would even be strong in December.

USD/CHF: This pair did not go upwards significantly last week, but it made some noticeable bullish effort, in a bull market. There is a Bullish Confirmation Pattern in the chart, and when the trend resumes, the resistance levels at 1.0150, 1.0200 and 1.0250, would be tested. Bearish corrections along the way would be transitory, and may not take price below the support levels at 1.0050 and 1.0000.

GBP/USD: The GBP/USD moved sideways throughout last week, resulting in a neutral bias in the near-term. The neutral bias has been going on for about two weeks, while the dominant bias on higher timeframes is bearish. A break out of the sideways movement is expected this week or next, and would most probably favor bears.

USD/JPY: This currency trading instrument is one of the strongest moving currency pairs at the present. Since the low of November 9, 2016, price has moved upwards by 1250 pips, and the current shallow bearish correction is simply another resting phase for bulls, before they continue pushing price further northwards. The outlook on JPY pairs is bullish for this week, which could make the USD/JPY go further north.

EUR/JPY: This cross moved upwards by 250 pips last week, testing the supply zone at 120.00. The supply zone would be tested again and get breached to the upside, as price targets another supply zones at 121.00 and 122.00. One reason for this clean bullish movement is a persistent weakness in the Yen, which enables the Euro to go upwards against it until Yen will gather some stamina.

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359

The EUR/USD did not move significantly yesterday, and the overall bias in the market is bearish. A rise in momentum would happen this week, which would most probably favor the current bearish bias. The support levels at 1.0550 and 1.0500 could still be reached.

EUR/USD: The EUR/USD did not move significantly yesterday, and the overall bias in the market is bearish. A rise in momentum would happen this week, which would most probably favor the current bearish bias. The support levels at 1.0550 and 1.0500 could still be reached.

USD/CHF: This currency trading has not undergone much movement this week. There is a Bullish Confirmation Pattern in the chart, and when the trend resumes, the resistance levels at 1.0200 and 1.0250, would be tested. Bearish corrections along the way would be transitory, and may not take price below the support levels at 1.0050 and 1.0000.

GBP/USD: The GBP/USD moved sideways throughout last week, resulting in a neutral bias in the near-term. The neutral bias has been going on for about two weeks, while the dominant bias on higher timeframes is bearish. A break out of the sideways movement is expected this week or next, and would most probably favor bears.

USD/JPY: This pair is yet to move significantly this week. The outlook on the market, as well as on other JPY pairs, remains bullish for this week. When price breaks out, it should favor the current bullish outlook. Therefore, the supply levels at 113.00, 113.50 and 114.00 would be tested today or tomorrow.

EUR/JPY: This pair is yet to move significantly this week, but right now, bulls are making effort to push price upwards. The outlook on the market is bullish for this week. The supply zones at 119.50, 120.00 and 120.50, could be tested anytime this week. Any possible pullbacks could be contained at the demand zones at 118.00 and 117.50.

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

360

The GBP/USD ended a two-week consolidation by breaking upwards significantly, just as it was already anticipated. Price went upwards 330 pips, closing above the accumulation territory at 1.2700. GBP would rally versus some majors this week, and as it is rallying versus USD (which is also strong in its own right), further bullish movement is expected.

EUR/USD: This pair consolidate throughout last week, and a closer look reveals some consolidation to the upside. This means there could be some rally this week, which would also be checked by the strength in USD itself. There are resistance lines at 1.0750 and 1.0800. There are also support lines at 1.0550 and 1.0500.

USD/CHF: The USD/CHF has been caught in an equilibrium phase that has lasted for one week. A closer look at the market shows bears are trying hard to push price downwards – an action that could be aided by expected stamina in CHF this week. There are resistance levels at 1.0150 and 1.0200. There are also support levels at 1.0050 and 1.0000.

GBP/USD: The GBP/USD ended a two-week consolidation by breaking upwards significantly, just as it was already anticipated. Price went upwards 330 pips, closing above the accumulation territory at 1.2700. GBP would rally versus some majors this week, and as it is rallying versus USD (which is also strong in its own right), further bullish movement is expected.

USD/JPY: This currency trading instrument went upwards by 300 pips last week. Price reached the supply level at 114.50, but it could not close above it, since price retraced backwards a little on Friday. The outlook on this market is bullish this week, and a resumption of bullish journey could cause the supply level at 114.50 to be eventually overcome as price goes towards the supply levels at 115.00, 115.50 and 116.00.

EUR/JPY: This cross went upwards significantly last week. There is a Bullish Confirmation Pattern in the market, and further bullish movement could happen this week, as EUR itself is supposed to rally versus some major currencies. Price might reach the supply zones of 122.00, 122.50 and 123.00; plus the demand zones at 120.00 and 119.50 should hinder some possible bearish machinations this week.

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361

The EUR/JPY went south in the first few hours of this trading week. Price quickly recovered and went upwards 350 pips, from a daily low of 119.50 (Monday). The action has put more emphasis on the recent bullish bias. The resistance line at 123.00 has been tested, and it would be tested again.

EUR/USD: The EUR/USD made a faint bearish start this week, and later started trending upwards. Price has moved upwards by over 200 pips, and this has resulted in a new bullish bias in the market. Thus the market is supposed to be going upwards this week, reaching the resistance lines at 1.0800, 1.0850 and 1.0900 this week.

USD/CHF: A bearish signal has appeared on the USD/CHF, and it is possible that price would continue that go further downwards. More southerly movement may result in price reaching the support levels at 1.0050 and 1.0000. However, it would be difficult for price to break the support level at 1.0000 to the downside.

GBP/USD: This is a bullish, as well as a volatile market. Price began a bullish movement last week and it has gone north by 300 pips since then, and now targeting the distribution territory at 1.2750. That distribution territory is supposed to be breached to the upside soon, as price goes further and further upwards.

USD/JPY: This pair consolidated yesterday – in the context of an uptrend. There is a Bullish Confirmation Pattern in the market and a rise in momentum should end up favoring the extant bullish outlook, for the outlook is also bullish for this week. The supply levels at 114.50, 115.00 and 115.50 remain the bullish targets for the week.

EUR/JPY: The EUR/JPY went south in the first few hours of this trading week. Price quickly recovered and went upwards 350 pips, from a daily low of 119.50 (Monday). The action has put more emphasis on the recent bullish bias. The resistance line at 123.00 has been tested, and it would be tested again.

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

362

The USD/JPY consolidated last week, and then began to trend upwards on Friday. There is a Bullish Confirmation Pattern in the 4-hour chart, and since the outlook on JPY pairs remains bullish for this week, the USD/JPY would also normally trend further upwards. The targets for this week are located at the supply levels of 115.50, 116.00 and 116.50.

EUR/USD: There is a clean “sell” signal on this pair. Price generally moved downwards last week, closing below the resistance line at 1.0600, and nearly reaching the support line at 1.0550. This week, price could reach the support lines at 1.0550, 1.0500 and 1.0450, for the outlook on the market is bearish. In fact, there is a possibility that EUR may reach parity with USD in a foreseeable future.

USD/CHF: There is a bullish signal on the USD/CHF. In spite of tight volatility and bears’ machinations last week, bulls were able to push the market up a bit. Price is now above the support level at 1.0150, targeting the resistance levels at 1.0200 and 1.0250. CHF is bound to gather some stamina this week, it may not affect the USD/CHF, unless the stamina is too much.

GBP/USD: The Cable pulled back most of the last week, closing at 1.2576 on Friday. This has become a threat to the recent bullish bias on the market; plus a movement below the accumulation territory at 1.2500 would result in the end of the bullish bias. For the bullish bias not to be overruled, price needs to stay above that accumulation territory.

USD/JPY: The USD/JPY consolidated last week, and then began to trend upwards on Friday. There is a Bullish Confirmation Pattern in the 4-hour chart, and since the outlook on JPY pairs remains bullish for this week, the USD/JPY would also normally trend further upwards. The targets for this week are located at the supply levels of 115.50, 116.00 and 116.50.

EUR/JPY: The market was quite choppy last week – but the bullish outlook on it remains intact. This week, further upwards movement is expected as price would likely reach the supply zones at 122.00, 122.50 and 123.00. As long as the demand zones at 120.00 and 119.50 are not breached to the downside, the bullish outlook would remain rational.

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

363

The GBP/USD trended upwards yesterday, which resulted in another bullish signal. Price is now above the accumulation territory at 1.2650, targeting the distribution territories at 1.2700 and 1.2750. As long as price does not go south by 200 pips from here, the bullish signal would be valid.

EUR/USD: This pair went upwards on Monday – in the context of a downtrend. The upwards movement could be taken as another short-selling opportunity, unless the resistance line at 1.0800 is overcome (which would require a serious buying pressure). Price may still target the support lines at 1.0600 and 1.0550.

USD/CHF: This pair went downwards on Monday – in the context of an uptrend. The downwards movement could be taken as another buy-long opportunity, unless the support level at 1.0050 is breached to the downside (which would require a serious selling pressure). Price may still target the resistance levels at 1.0200 and 1.0250.

GBP/USD: The GBP/USD trended upwards yesterday, which resulted in another bullish signal. Price is now above the accumulation territory at 1.2650, targeting the distribution territories at 1.2700 and 1.2750. As long as price does not go south by 200 pips from here, the bullish signal would be valid.

USD/JPY: This market experienced a minor correction on December 12. There is a Bullish Confirmation Pattern in the 4-hour chart, and since the outlook on JPY pairs remains bullish for this week, the USD/JPY would also normally trend further upwards. The targets for this week are located at the supply levels of 115.50, 116.00 and 116.50.

EUR/JPY: This is a bull market, and it is supposed to continue trending upwards. The EUR is weak in itself, but the reason it is going up against the JPY is because the latter is weaker than it is. The supply zones at 123.00 and 123.50 could be targeted this week.

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364

The USD/CHF went seriously upwards last week, testing the resistance level at 1.0300 before retracing a little. The outlook on the market remains bullish for the week, as USD is supposed to continue gathering stamina. The targets for this week are located at the resistance levels of 1.0300, 1.0305 and 1.0400.

EUR/USD: The pair went seriously downwards last week, testing the support line at 1.0400 briefly before engaging in a shallow bullish correction. The outlook on the market remains bearish for the week, as EUR is supposed to continue being weak. The targets for this week are located at the support lines at 1.0400, 1.0350 and 1.0300.

USD/CHF: The USD/CHF went seriously upwards last week, testing the resistance level at 1.0300 before retracing a little. The outlook on the market remains bullish for the week, as USD is supposed to continue gathering stamina. The targets for this week are located at the resistance levels of 1.0300, 1.0305 and 1.0400.

GBP/USD: The Cable consolidated from Monday to Wednesday, when it plummeted heavily, to test the accumulation territory at 1.2400. That accumulation territory is bound to be tested again, and breached to the downside, as the outlook on GBP pairs remains bearish for the rest of this year. Long trades are not recommended right now, because price is expected to continue going further downwards.

USD/JPY: This is a significant bull market. There are clean Bullish Confirmation Patterns on 4-hour and daily charts. The market would pause, trend upwards. Pause again, and then upwards again – in its journey towards the north. Short trades are not advisable in this market.

EUR/JPY: This currency cross is also a bull market; just like the USD/JPY. Since the Yen is very weak, it would be logical to conclude that price would continue to go upwards (though EUR is weak in itself). The targets for this week are located at the supply zones at 118.50, 119.00 and 119.50. There is a Bullish Confirmation Pattern in the market.

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365

The USD/CHF is still in a bullish mode. Price is supposed to continue going upwards this week, reaching the resistance levels at 1.0300 and 1.0350. The bullish outlook would be valid as long as price does not go below the support levels at 1.0050 and 1.0000.

EUR/USD: This pair was bearish last week, and it has started going downwards this week. There is a strong Bearish Confirmation Pattern in the market, and there is a possibility that EUR would reach parity with USD within the next several months.

USD/CHF: The USD/CHF is still in a bullish mode. Price is supposed to continue going upwards this week, reaching the resistance levels at 1.0300 and 1.0350. The bullish outlook would be valid as long as price does not go below the support levels at 1.0050 and 1.0000.

GBP/USD: The movement on the Cable is quite similar to the movement on the EUR/USD. The outlook on the market is bearish, and this is what is supposed to continue this week (and this month). The accumulation territories at 1.2350 and 1.2300 could be targeted eventually.

USD/JPY: This is a significant bull market. There are clean Bullish Confirmation Patterns on 4-hour and daily charts. However, this does not rule out the possibility of bearish corrections in the market. Price is supposed to continue trending upwards following the correction, which should not take the price below the demand level at 115.50.

EUR/JPY: This currency cross is not attractive at the moment. There is no directional bias…. And from now on, the direction of the market would be determined by the situation surrounding the EUR. There is a possibility that price would go into a deep correction soon.

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

366

The EUR/JPY went flat throughout last week. However, a closer look at the market reveals that bulls are intent on pushing price higher. So when momentum returns to the market, it might push price towards north. The supply zones at 123.00, 123.50 and 124.00 might be reached soon.

EUR/USD: The EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly from Wednesday. Overall, the bias is bearish, which means that the current bullish attempt is an opportunity to go short at better prices. The support lines at 1.0400 and 1.0350 could still be reached.

USD/CHF: This pair is currently consolidating and it is quite choppy right now. However, the recent outlook is bullish and as long as price is above the psychological level at 1.0000. This is something that may hold for the rest of this year, for further bullish movement is a logical possibility.

GBP/USD: This pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.

USD/JPY: This market has become flat since last week and there is no directional movement in the near term. Right now, it is OK to stay away from the market because there are mixed signals in it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14 is giving a bearish indication. Soon, the indicators would begin to give signals in the same direction.

EUR/JPY: The EUR/JPY went flat throughout last week. However, a closer look at the market reveals that bulls are intent on pushing price higher. So when momentum returns to the market, it might push price towards north. The supply zones at 123.00, 123.50 and 124.00 might be reached soon.

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367

The GBP/USD pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.

EUR/USD: The EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly from Wednesday. Overall, the bias is bearish, which means that the current bullish attempt is an opportunity to go short at better prices. The support lines at 1.0400 and 1.0350 could still be reached.

USD/CHF: The USD/CHF merely moved sideways on Monday – and the bias on the market remains bullish. The price action and the indicators in the 4-hour chart reveal that when momentum returns to the market, it would most probably favor the bulls. The targets for the week remain at the resistance levels at 1.0300 and 1.0350.

GBP/USD: This pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.

USD/JPY: This market has become flat since last week and there is no directional movement in the near term. Right now, it is OK to stay away from the market because there are mixed signals in it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14 is giving a bearish indication. Soon, the indicators would begin to give signals in the same direction.

EUR/JPY: There is a possibility of a bullish movement on the EUR/JPY cross. In spite of the recent flat movement, the overall outlook on the market is bullish, which would hold as long as price does not go below the demand zone at 120.50, which would require a strong bearish pressure anyway.

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

368

The EUR/USD was able to maintain its bullishness last week. There is a Bullish Confirmation Pattern in the 4-hour chart, and price is currently testing the resistance line at 1.0700. The resistance line would be broken to the upside this week as price targets another resistance lines at 1.0750 and 1.0800.

EUR/USD: The EUR/USD was able to maintain its bullishness last week. There is a Bullish Confirmation Pattern in the 4-hour chart, and price is currently testing the resistance line at 1.0700. The resistance line would be broken to the upside this week as price targets another resistance lines at 1.0750 and 1.0800.

USD/CHF: The USD/CHF was able to maintain its bearishness last week. There is a Bearish Confirmation Pattern in the 4-hour chart, and price is currently below the resistance level at 1.0050. The great psychological level at 1.0000 is still a formidable threat to the current bearish outlook, and price should be able to break it to the downside this week, so that the bearish movement can continue.

GBP/USD: The Cable rallied last week and consolidated till the end of the week, remaining volatile throughout the week. Things have turned bullish in the short-term, and it is anticipated that price would go upwards by at least, 200 pips this week. Therefore the distribution territories at 1.2400, and 1.2450 and 1.2500.

USD/JPY: There are conflicting signals in the USD/JPY 4-hour chart. The outlook on the market is bearish, but right now, there is a kind of hesitation in the market. This week, price could go seriously upwards or further downwards to emphasize the recent bearish outlook. Whatever would happen, this week would tell.

EUR/JPY: There is a “buy” signal in this market. Price has gone upwards - mainly because the EUR is strong. Since movements of JPY pairs would be determined by whatever happens to other currencies, this market would continue to go upwards as long as EUR is strong. The Supply zones at 123.00, 123.50 and 124.00 could be reached.

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369

The GBP/USD moved upwards by 170 pips yesterday, to continue the bullish signal that was started last week. There is a Bullish Confirmation Pattern and price may later reach the distribution territories at 1.2550, 1.2600, and 1.2650.

EUR/USD: There is a bullish signal on the EUR/USD, and just as it was forecasted earlier this week, price is expected to go further northwards. The market moved up beyond the support line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850 and 1.0850. This bullishness would be sensible as long as price does not go below the support line at 1.0600.

USD/CHF: There is a bearish signal on the USD/CHF, and just as it was forecasted earlier this week, price is expected to go further southwards. The market moved up below the resistance line at 1.0000, targeting the support lines at 0.9950, 0.9900 and 0.9850. This bearishness would be sensible as long as price not go above the resistance line at 1.0000. The resistance line at 1.0000 is particularly important because it would not be easy to be broken to the upside, and so, the current bearishness is expected to hold out longer.

GBP/USD: The GBP/USD moved upwards by 170 pips yesterday, to continue the bullish signal that was started last week. There is a Bullish Confirmation Pattern and price may later reach the distribution territories at 1.2550, 1.2600, and 1.2650.

USD/JPY: What happened yesterday showed that the rally that happened last Thursday and Friday was an opportunity to sell short at better prices. Price went south on Monday, underlining the recent bearish trend in the market. Further downwards movement is expected for the rest of this week.

EUR/JPY: The movement on this currency cross is now quite similar to the movement on the USD/JPY. There is a Bearish Confirmation Pattern here, and further bearish movement is possible as price targets the demand zones at 121.00 (the first target), 120.50 and 120.00.

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

370

There is a bullish signal on the EUR/JPY. Last week, price moved upwards by 210 pips, from the low of January 23. Price has closed above the demand zone at 123.00, and it may now target the supply zones at 123.50, 124.00 and 124.50.

EUR/USD: The EUR/USD is in a bullish mode, but price merely consolidated throughout last week, not being able to stay above the resistance line at 1.0750. For the current bullish outlook to continue to make sense, price would need to go above the resistance line at 1.0750, and also reach another resistance line at 1.0800; otherwise a serious pullback may be experienced.

USD/CHF: The USD/CHF only went flat throughout last week, in the context of a downtrend. The market has, interestingly oscillated around the psychological level at 1.0000. Should the market stay around that level for the next several trading days, the bias on the market would turn neutral. For a directional bias to form, the market would need to move further away from that level. A strong movement to the south would emphasize the recent weakness in the market, while a strong movement to the north would result in a new bullish outlook.

GBP/USD: Since the beginning of last week, the GBP/USD has moved upwards by 660 pips. The market topped at the distribution territory at 1.2650, and then retraced a bit. The retracement continued until the market closed on Friday. The bias is still bullish and as long as price does not go below the accumulation territory at 1.2300, the bullish outlook would be valid.

USD/JPY: This currency trading instrument went downwards on Monday, and then began to trend upwards from Tuesday (till the end of the week). This has made price action to generate a “buy” signal in the short-term, which may continue to be valid as price goes further north. This is something that can lead to a Bullish Confirmation Pattern in the market.

EUR/JPY: There is a bullish signal on the EUR/JPY. Last week, price moved upwards by 210 pips, from the low of January 23. Price has closed above the demand zone at 123.00, and it may now target the supply zones at 123.50, 124.00 and 124.50.

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371

The EUR/JPY went downwards on Monday, now above the demand zone 121.50. Price may go upwards from here, generating a bullish signal in the short term. On the other hand, a movement below the demand zones at 121.00 and 120.00 would result in a bearish signal.

EUR/USD: This pair experienced a minor pullback on January 30, in the context of an uptrend. As long as price does not go below the support line at 1.0500, the uptrend would be valid. Normally, price may go above the resistance lines at 1.0750, 1.0800 and 1.0850 this week.

USD/CHF: The USD/CHF only went flat throughout last week, in the context of a downtrend. The market has, interestingly oscillated around the psychological level at 1.0000. Should the market stay around that level for the next several trading days, the bias on the market would turn neutral.

GBP/USD: The Cable has continued the bearish correction it started last Friday. Further bearish correction would pose a threat to the recent bullish outlook, especially when the accumulation territory at 1.2300 is breached to the downside. Should price rally significantly from here, it would help re-establish the recent bullish bias.

USD/JPY: The market went slightly downwards yesterday, just in conjunction with the extant bearish outlook. It turned out that the rally that was seen at the end of last week was simply a good opportunity to go short at better prices. There is a clean Bearish Confirmation Pattern in the market, and further southwards movement is anticipated.

EUR/JPY: The EUR/JPY went downwards on Monday, now above the demand zone 121.50. Price may go upwards from here, generating a bullish signal in the short term. On the other hand, a movement below the demand zones at 121.00 and 120.00 would result in a bearish signal.

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

373

The USD/CHF went downwards last week, but significantly. Price is below the resistance levels at 1.0000 and 0.9950, now moving towards the support level at 0.9900, which is one of the targets for this week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is expected.

EUR/USD: The EUR/USD went upwards last week, but also not significantly. Price tested the resistance line at 1.0800 many times, but it was unable to breach it to the upside. The resistance line at 1.0800 must be breached to the upside this week, so that the bullish movement can continue, and so that risk of a serious pullback can be averted.

USD/CHF: The USD/CHF went downwards last week, but significantly. Price is below the resistance levels at 1.0000 and 0.9950, now moving towards the support level at 0.9900, which is one of the targets for this week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is expected.

GBP/USD: The Cable has been characterized by upwards and downwards swings. Last week, price generally moved between the distribution territory at 1.2700 and the accumulation territory at 1.2400. A break above the distribution territory would emphasize a bullish outlook; while a break below the accumulation territory would emphasize a bearish outlook.

USD/JPY: Here, the bias has turned bearish on 4-hour and daily charts. There is a Bearish Confirmation Pattern in the market, and further bearish journey is a possibility. There would be occasional rallies along the way, but the overall movement should be bearish this week, as bears target the demand levels at 112.00, 111.50 and 111.00 this week.

EUR/JPY: This currency trading instrument is neutral in the long-term and bearish in the short-term. There is a short-term “sell” signal in the market, and price is supposed to continue going further downwards. Further bearish movement would also result in a bearish outlook in the long-term. The first target for this week is at the demand zone at 120.50: followed by the demand zones at 120.00, and 119.50.

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The EUR/JPY trended downwards from Monday till Wednesday, and started going upwards on Thursday, before it got corrected on Friday. The medium-term bias is bearish, and further bearish movement is possible, which may see the market testing the demand zones at 120.00 and 119.50. On the other hand, a strong rally may happen soon.

EUR/USD: The dominant bias on this market is bearish and the short-term signal is also bearish. Price moved further south last week, leading to a Bearish Confirmation Pattern as it closed below the resistance line at 1.0650 on Friday. More southwards movement is possible this week, targeting the support lines at 1.0600, 1.0550 and 1.0500.

USD/CHF: The USD/CHF has generated a valid bullish signal. The market moved sideways, but started rising gradually in the last two days of the week. Price has been able to go above the important support level at 1.0000 and it would not be easy for it to go below that level again. Further bullish movement is expected within the next several trading days.

GBP/USD: The Cable merely moved sideways last week – which has led to an equilibrium phase in the market. The sideways movement could continue this week or so… But a rise in a bearish movement is very likely and it may happen any day. There would also be a bearish movement on some other GBP pairs as well.

USD/JPY: The bias on this market is bearish, and the rally that was seen on it towards the end of the week was merely a bullish attempt in the context of a downtrend. Nevertheless, there is a possibility that a strong rally would occur this month or next (also on JPY pairs). While the demand levels at 112.50 and 112.00 may be tested, there may soon be a rise in a bullish momentum which would push the market upwards significantly.

EUR/JPY: The EUR/JPY trended downwards from Monday till Wednesday, and started going upwards on Thursday, before it got corrected on Friday. The medium-term bias is bearish, and further bearish movement is possible, which may see the market testing the demand zones at 120.00 and 119.50. On the other hand, a strong rally may happen soon.

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