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437

Daily analysis of major pairs for October 2, 2017

The protracted bearish correction that has been witnessed this week, has resulted in a bearish signal on the GBP/USD. Price has gone down by 140 pips, and further downwards movement is expected as price goes towards the accumulation territories at 1.3350, 1.3300 and 1.3250 (which could be reached within the next several days).

EUR/USD: This pair dropped by 200 pips last week, dropped briefly below the support line at 1.1750 and then closed above the support line at 1.1800. This week, further bearish movement is possible (which means the current rally in the context of a downtrend is another opportunity to go short at better prices), as price goes towards the support lines at 1.1800, 1.1750 and 1.1700. The outlook on EUR pairs is strongly bearish for the month of October; so EUR could be seen going downwards versus major pairs.

USD/CHF: The USD/CHF is precariously bullish. In case the EUR/USD continues to slide southwards, the USD/CHF would be moving northwards. Another impediment to the bullishness of the USD/CHF is the expected stamina in CHF itself (which would happen within the next two weeks). However, bulls would become a clear winner at the end of the month, as USD would start a vivid gathering of strength.

GBP/USD: The GBPUSD was generally bullish in September, save the bearish correction that was witnessed last week. Price came down by 200 pips and that has resulted in a Bearish Confirmation Pattern in the market. Further bearish movement is strongly anticipated this week as price targets the accumulation territories at 1.3350, 1.3300 and 1.3250. The outlook on GBP pairs is bearish for this week, and therefore, long trades are not recommended.

USD/JPY: This currency trading instrument has gone upwards by 450 pips since September 11, and it has thus generated a bullish signal which still remains in place. This week and this month, the movement in the market would be determined by whatever happens to USD. A stronger USD would mean the market would continue going north, while a weaker USD would result in a protracted bearishness that could eventually lead to a “sell” signal.

EUR/JPY: This cross dropped on Monday and Tuesday, and thne consolidated for the rest of last week. Nonetheless, a closer look at the market reveals that bulls have been subtly pushing the market upwards: thereby saving the recent bullish bias. Price could continue going upwards – and if EUR is weakened too much – price could nosedive.

Source: www.instaforex.com

438

Daily analysis of major pairs for October 3, 2017

The GBP/USD assumed further journey southwards on Monday. Price dropped by more than 90 pips, having dropped by 250 pips since the beginning of last week. Since the outlook on GBP pairs remains bearish for this week, it is anticipated that price would continue going downwards, reaching another accumulation territories at 1.3250, 1.3200 and 1.3150.

EUR/USD: This pair was pushed lower on October 2, and it is now below the resistance line at 1.1750, going towards the support line at 1.1700 (an initial target). Other targets for bears are the support lines at 1.1650 and 1.1600, which could be reached within the next few days. The outlook on EUR pairs is bearish for this month, and thus, the EUR/USD would go bearish in most cases.

USD/CHF: This currency trading instrument showed some bullishness yesterday – and it is already in a bullish mode. As the EUR/USD goes further south, the USD/CHF will go further north. At first, the northwards journey would seem limited because of some attempts to gather stamina on the part of CHF. However, the bulls would become clear winners by the end of the month, for USD would have gained some strength by then.

GBP/USD: The GBP/USD assumed further journey southwards on Monday. Price dropped by more than 90 pips, having dropped by 250 pips since the beginning of last week. Since the outlook on GBP pairs remains bearish for this week, it is anticipated that price would continue going downwards, reaching another accumulation territories at 1.3250, 1.3200 and 1.3150.

USD/JPY: There is a bullish bias on the USD/JPY. This week and this month, the movement in the market would be determined by whatever happens to USD. A stronger USD would mean the market would continue going north, while a weaker USD would result in a protracted bearishness that could eventually lead to a “sell” signal.

EUR/JPY: This cross traded lower on Monday, thus generating a “sell” signal in the market. It is likely that the demand zones at 132.00, 131.50 and 131.00 would be tested soon. One factor that may make this expectation possible is the weakness in EUR itself. It would be difficult for the cross to go seriously upwards when EUR is very weak.

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

439

Daily analysis of major pairs for October 9, 2017

The GBP/USD dropped by 320 pips last week, having dropped more than 480 pips since September 25, when the initial “sell” signal was generated. There is a huge Bearish Confirmation Pattern in the market, and further downwards movement is expected this week. There could, however, be a rally before the end of the week.

EUR/USD: Since September 25, the EUR/USD has lost roughly 200 pips. The current kind of the market situation favors selling on short-term rallies (as indicated by the recent price action). Price moved briefly below the support line at 1.1700 but closed above it on Friday. Once price turns south again, another clean opportunity would emerge, which would enable selling at slightly higher and better prices.

USD/CHF: This pair has been bullish for the past few weeks, moving briefly above the resistance level at 0.9850, and closing below it on Friday. The outlook on the market is bullish for this week, but the bullish movement would be limited as long as CHF is not that vulnerable. The ongoing bullishness also would be supported for some time by the weakness in the EUR/USD

GBP/USD: The GBP/USD dropped by 320 pips last week, having dropped more than 480 pips since September 25, when the initial “sell” signal was generated. There is a huge Bearish Confirmation Pattern in the market, and further downwards movement is expected this week. There could, however, be a rally before the end of the week.

USD/JPY: This trading instrument has been able to maintain its bullishness in spite of the ongoing equilibrium phase in the market. A movement above the supply level at 114.00 would affirm the long-term bullish bias, while a movement below the demand level at 111.00 would result in bearish bias. One of these two conditions would be met this week, since it is expected that momentum would soon go out of balance.

EUR/JPY: This cross is bullish in the long-term, but bearish in the short-term. Price did practically nothing last week, but a closer look at the market reveals that bears are subtly gaining upper hands, and they may push price lower this week, as it tests the demand zones at 132.00, 131.50 and 131.00. But that would not be serious enough to become a threat to the overall bullish bias.

Source: www.instaforex.com

440

Daily analysis of major pairs for October 10, 2017

On Monday, the EUR/USD went upwards in the context of a downtrend. Unless price goes above the resistance line at 1.1850 (which would require a strong buying pressure), the upwards movement would create a good opportunity to go short at a better price. The support lines at 1.1750 and 1.1700 could thus be tested again.

EUR/USD: On Monday, the EUR/USD went upwards in the context of a downtrend. Unless price goes above the resistance line at 1.1850 (which would require a strong buying pressure), the upwards movement would create a good opportunity to go short at a better price. The support lines at 1.1750 and 1.1700 could thus be tested again.

USD/CHF: The USDCHF, on October 9, has moved further sideways, while the bias remains bullish. This pair has been bullish for the past few weeks, but further sideways movement could result in a neutral bias. So in order for a neutral bias not to form, there is a need for a directional movement.

GBP/USD: The GBP/USD went upwards yesterday in a context of a downtrend. Price could test the distribution territories at 1.3200 and 1.3250, but it would turn southwards to reach the accumulation territories at 1.3100 and 1.3050, which has been previously tested.

USD/JPY: There is an ongoing equilibrium phase in the market. A movement above the supply level at 114.00 would affirm the long-term bullish bias, while a movement below the demand level at 111.00 would result in bearish bias. One of these two conditions would be met this week, since it is expected that momentum would soon go out of balance.

EUR/JPY: This cross is bullish in the long-term, and now, neutral in the short-term. Price did practically nothing yesterday, but a closer look at the market reveals that bulls are subtly gaining upper hands, and they may push price upwards this week, as it goes towards the supply zone at 133.00, 133.50 and 134.00.

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

441

Daily analysis of major pairs for October 16, 2017

The EUR/USD is bullish both in the long-term and the short-term. However, the outlook on this pair is bearish for this week, and so it is for other EUR pairs. Therefore, the shallow bearish correction that was started last Friday could go on to become something significant as price goes towards the support lines at 1.1750 and 1.1700.

EUR/USD: The EUR/USD is bullish both in the long-term and the short-term. However, the outlook on this pair is bearish for this week, and so it is for other EUR pairs. Therefore, the shallow bearish correction that was started on Friday could go on to become something significant as price goes towards the support lines at 1.1750 and 1.1700.

USD/CHF: There is still some bullishness on the USD/CHF. This week, the movement of price would be determined by whatever happens to the EUR/USD. When EUR/USD goes upwards, the USD/CHF would have a limited bullish movement. When the former goes down, the latter would find it easy to go upwards.

GBP/USD: The Cable is now bullish both in the short-term and the long-term. There is a Bullish Confirmation Pattern in the market, which would become more conspicuous as price goes further upwards towards the distribution territories at 1.3300 and 1.3350. There are accumulation territories at 1.3200 and 1.3151, which would try to hinder some bearish attempts.

USD/JPY: This pair is bearish in the short-term, though the bullish bias is not completely over. There is a possibility that price would continue to go southwards this week, moving below the demand levels at 111.50, 111.00 and 110.50. Should this happen, the bullish bias would then be over.

EUR/JPY: This currency trading instrument is bullish in the long-term, while there is a bearish threat in the short-term. Since the outlook on EUR pairs is bearish for this week, it is possible that price would continue to go downwards towards the demand zones at 132.00, 131.50 and 131.00. A northwards movement of 150 pips from here would render this expectation invalid.

Source: www.instaforex.com

442

Daily analysis of major pairs for October 17, 2017

The USD/CHF simply consolidated yesterday, but a rise in momentum is expected any time this week. Soon, price would either go above the resistance level at 0.9850; or it would go below the support level at 0.9650, creating a directional bias on the market.

EUR/USD: The EUR/USD has been going downwards gradually since Friday, creating a directionless scenario on the market. It is better to stay away from the market until there is a strong breakout to the upside or to the downside, which would create a directional bias (a movement of about 200 pips).

USD/CHF: The USD/CHF simply consolidated yesterday, but a rise in momentum is expected any time this week. Soon, price would either go above the resistance level at 0.9850; or it would go below the support level at 0.9650, creating a directional bias on the market.

GBP/USD: The Cable is now bullish both in the long-term. There is a Bullish Confirmation Pattern in the market, which would become more conspicuous as price goes further upwards towards the distribution territories at 1.3300 and 1.3350. There are accumulation territories at 1.3200 and 1.3151, which would try to hinder some bearish attempts.

USD/JPY: On Monday, this currency trading instrument bounced upwards in the context of a short-term downtrend. Further upwards movement above the supply level at 113.00 would result in a bullish bias; while a movement to the downside would confirm the recent short-term bearish bias on the market.

EUR/JPY: This currency trading instrument is bullish in the long-term. The outlook on EUR pairs is bearish for this week, it is possible that price would continue to go downwards towards the demand zones at 132.00 (which was previously tested), 131.50 and 131.00. A northwards movement of 150 pips from here would render this expectation invalid.

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

443

Daily analysis of major pairs for October 23, 2017

The USD/JPY started making bullish efforts at the beginning of last week, and the efforts were successful. Price gained 170 pips, testing the supply level at 113.50 on Friday. The outlook on the market is bullish for this week, owing to the expected stamina in USD and expected weakness in JPY. Thus, the supply levels at 114.00 and 114.50 would be tested. A very strong bullish momentum could even cause another supply level at 115.00 to be reached.

EUR/USD: This pair moved downwards on Monday and Tuesday, moved upwards on Wednesday and Thursday and then came down on Friday. The erratic (zigzag) movement has resulted in a neutral bias, which would be overridden this week as price goes above the resistance line at 1.1900, or it would go below the support line at 1.1700. Price must breach either of these two boundaries for the current neutral bias to end (and this would require a strong momentum). However, a movement to the downside is more likely this week, owing to a strong bearish outlook on EUR pairs.

USD/CHF: The market is bullish in shorter-term and longer-term. Price has gained 110 pips this month, and the resistance level at 0.9850 has been tested (it would be tested again). This week, the resistance levels at 0.9900 and 0.9950 would be aimed. Two factors would me this possible: 1) an expected stamina in USD. 2) an expected fall in the EUR/USD.

GBP/USD: The price of the Cable has gone downwards by 170 pips last week, resulting in a Bearish Confirmation Pattern in the 4-hour chart. The shallow rally that happened on October 20 could end up being an opportunity to go short at a slightly higher price, for price would continue moving downwards this week, reaching the accumulation territories at 1.3150, 1.3100 and 1.3050.

USD/JPY: The USD/JPY started making bullish efforts at the beginning of last week, and the efforts were successful. Price gained 170 pips, testing the supply level at 113.50 on Friday. The outlook on the market is bullish for this week, owing to the expected stamina in USD and expected weakness in JPY. Thus, the supply levels at 114.00 and 114.50 would be tested. A very strong bullish momentum could even cause another supply level at 115.00 to be reached.

EUR/JPY: This cross consolidated in the first few days of last week, and then started moving northwards around the middle of the week. The market gained close to 200 pips, closing above the demand zone at 133.50 on Friday. This week, further bullish movement is expected because the outlook on certain JPY pairs is bullish for the week. The supply zones at 134.00, 134.50 and 135.00 could thus be reached.

Source: www.instaforex.com

444

Daily analysis of major pairs for October 24, 2017

The USD/JPY opened with a minor gap-up this week, rammed into the supply level at 114.00 and then got corrected lower. The bias on the market is bullish, and therefore, price is expected to rise from here, testing the supply level at 114.00 again, breaching it to the upside, and going further northwards.

EUR/USD: The EUR/USD did not move significantly on Monday. However, a movement that is directional is expected this week, which would either take price above the resistance line at 1.1850 or below the support line at 1.1700. Until one of the two boundaries are breached, the bias on the market would be neutral.

USD/CHF: On October 23, this pair moved briefly above the resistance level at 0.9850, and then moved below it. This week, the resistance levels at 0.9900 and 0.9950 would be aimed. Two factors would me this possible: 1) an expected stamina in USD. 2) an expected fall in the EUR/USD.

GBP/USD: The Cable consolidated yesterday, and price is currently moving against the extant bearish signal. The movement would be seen as a rally in the context of an uptrend until the distribution territory at 1.3300 is breached to the upside. Normally, a movement to the downside is anticipated from here.

USD/JPY: The USD/JPY opened with a minor gap-up this week, rammed into the supply level at 114.00 and then got corrected lower. The bias on the market is bullish, and therefore, price is expected to rise from here, testing the supply level at 114.00 again, breaching it to the upside, and going further northwards.

EUR/JPY: What happened on the EUR/JPY is quite similar to what happened on USD/JPY. The market opened with a gap-up, touching the supply zone at 134.00 and then fell by 70 pips. Nonetheless, that was not enough to override the current bullish bias. Therefore, the drop in the market would be an opportunity to enter at a better price.

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

445

Daily analysis of major pairs for October 30, 2017

The USD/CHF went upwards last week, gaining about 180 pips. Price went briefly above the strong resistance level at 1.0000 (as USD and CHF gained a momentary parity). The parity would be achieved again this week as the market goes towards the resistance levels at 1.0000, 1.0050 and 1.0100. However, the parity would be transient because an expected rise on EUR/USD would result in a selling pressure on the USD/CHF.

EUR/USD: This currency trading instrument consolidated from October 23 to 25, and then dropped about 230 pips on October 26 and 27. The support lines at 1.1550, 1.1500 and 1.1450 could be reached this week, as price drops further. The outlook on the market is bearish for this week, but bullish for November (the outlook on EUR pairs). So the price would eventually rally to gain at least 300 pips in November.

USD/CHF: The USD/CHF went upwards last week, gaining about 180 pips. Price went briefly above the strong resistance level at 1.0000 (as USD and CHF gained a momentary parity). The parity would be achieved again this week as the market goes towards the resistance levels at 1.0000, 1.0050 and 1.0100. However, the parity would be transient because an expected rise on EUR/USD would result in a selling pressure on the USD/CHF.

GBP/USD: The GBP/USD has been caught in short-term upswings and downswings. Soon, there would be a rise in volatility, which would propel price above the distribution territory at 1.3300 or below the accumulation territory at 1.3000. GBP pairs would undergo very strong movements in November, which would be bullish in most cases.

USD/JPY: This pair made a feint bullish effort last week, but it did not close above the supply level at 114.00. There is a lot of activity around that supply level, and price would eventually close above it as it journeys further upwards this week, because the outlook on certain JPY pairs is bullish for the week; plus USD is expected to retain some of the stamina in it.

EUR/JPY: Most EUR pairs plummeted in the last few days of last week, and the EUR/JPY cross also was not spared. Price initially made some bullish effort on Monday to Wednesday, but further bullish effort was rejected at the supply zone at 134.50 – a point from which price dropped 260 pips. While the demand zones at 131.50 and 131.00 could be tested before price rallies, price could reach the stubborn supply zone at 134.50 again (which would be attained within the next few weeks).

Source: www.instaforex.com

446

Daily analysis of major pairs for October 31, 2017

The EUR/JPY traded lower on Monday, reaching the demand zone at 131.50. There is a Bearish Confirmation Pattern in the 4-hour chart, which means that price is expected to go further downwards this week, reaching the demand zones at 131.00 and 130.50.

EUR/USD: What has recently happened on the EUR/USD is what can best be described as a rally in the context of a downtrend. Further rally may take price towards the resistance line at 1.1700, which would be tested before price goes downwards. Otherwise, a breach of the resistance line at 1.1750 would result in a new bullish bias.

USD/CHF: What has recently happened on the USD/CHF is what can best be described as a pullback in the context of a uptrend. Further pullback may take price towards the support level at 0.9900, which would be tested before price goes upwards. Otherwise, a breach of the support level at 0.9850 would result in a new bearish bias.

GBP/USD: This pair is still caught in a broad equilibrium phase. Soon, there would be a rise in volatility, which would propel price above the distribution territory at 1.3300 or below the accumulation territory at 1.3000. GBP pairs would undergo very strong movements in November, which would be bullish in most cases.

USD/JPY: This currency trading instrument came downwards on October 30 – something that has become a threat to the recent bullish outlook on the market. Unless price goes upwards from here (which would save the bullish outlook), things would go bearish once the demand levels at 112.50 is breached to the downside.

EUR/JPY: The EUR/JPY traded lower on Monday, reaching the demand zone at 131.50. There is a Bearish Confirmation Pattern in the 4-hour chart, which means that price is expected to go further downwards this week, reaching the demand zones at 131.00 and 130.50.

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

447

Daily analysis of major pairs for November 6, 2017

Last week the EUR/JPY rallied in the context of a downtrend, moving from the demand zone at 131.50 to test the supply zone at 133.00 and then coming downwards on Friday. Price closed at 132.40 (below the supply zone at 132.50). Owing to a bearish outlook on EUR pairs this week, the market is supposed to go further southwards.

EUR/USD: This pair moved sideways from Monday to Thursday and then went further downwards on Friday, while the dominant bias remains bearish. This week, the support lines at 1.1600 (which has almost been tested), 1.1550 and 1.1500 would be tested this week, owing to a strong bearish bias on EUR pairs for the week.

USD/CHF: The USD/CHF did not move seriously last week, but it was able to maintain its bullishness. Price managed to close above the psychological area at 1.0000 on Friday, poised to move higher from there. The targets for this week are located at the resistance levels of 1.0050, 1.0100 and 1.0150. The resistance level at 1.0150 would require a very strong buying pressure to be breached to the upside.

GBP/USD: This currency trading instrument went upwards from Monday to Wednesday last week, testing the distribution territory at 1.3300. More bullish journey was rejected at that distribution territory as price plummeted from there, losing 250 pips, and testing the accumulation territory at 1.3050. The outlook on GBP pairs is bearish for this week, and so, more southwards movement is expected. A weak EURUSD would also help drag the GBP/USD further downwards.

USD/JPY: This market went downwards on October 30, went upwards on October 31, and consolidated for the rest of the week. This week, it is more likely for price to go higher than to go lower; first because the outlook on USD pairs is bullish for this week, and also because of an existing Bullish Confirmation Pattern in the market. The supply levels at 114.50 and 115.00 would, at least, be reached.

EUR/JPY: Last week the EUR/JPY rallied in the context of a downtrend, moving from the demand zone at 131.50 to test the supply zone at 133.00 and then coming downwards on Friday. Price closed at 132.40 (below the supply zone at 132.50). Owing to a bearish outlook on EUR pairs this week, the market is supposed to go further southwards.

Source: www.instaforex.com

448

Daily analysis of major pairs for November 7, 2017

A bullish signal has been generated on the USD/JPY pairs. Price is currently making bullish effort; and having gone above the demand level at 114.00, it is targeting the supply level at 114.500. Another target for the week is the supply level at 115.00.

EUR/USD: The EUR/USD is moving downwards gradually, while the overall bias on the market is bearish. Price is now below the resistance line at 1.1600, going towards the support line at 1.1550. USD is supposed to be strong this week, and that is what would put some bearish pressure on the EUR/USD pair.

USD/CHF: The USD/CHF did not move seriously on Monday, but it was able to maintain its bullishness. The targets for this week are located at the resistance levels of 1.0050, 1.0100 and 1.0150. The resistance level at 1.0150 would require a very strong buying pressure to be breached to the upside.

GBP/USD: The Cable is a kind of maniacal market right now, with large upswings and downswings. The short-term bias on the market is neither clearly bearish nor clearly bullish. A directional bias is expected to form soon, after price goes perpetually in one direction. Until then, one would do well to stay out of the market.

USD/JPY: A bullish signal has been generated on the USD/JPY pairs. Price is currently making bullish effort; and having gone above the demand level at 114.00, it is targeting the supply level at 114.500. Another target for the week is the supply level at 115.00.

EUR/JPY: There is a Bearish Confirmation Pattern on this cross, and rallies ought to be construed as opportunities to sell short. The demand zone at 132.00 has been tested and it would be tested again (it would be breached to the downside as price goes further south). Owing to a bearish outlook on EUR pairs this week, the market is supposed to go further southwards.

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

449

Daily analysis of major pairs for November 13, 2017

The USD/JPY pair is bullish in the long-term, but bearish in the short-term. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/USD: The bias on the EUR/USD is bearish, but price has been making some faint bullish effort (especially on Friday). The outlook on the market is bullish for this week (and so it is for some EUR pairs), and therefore, price may go upwards to form a Bullish Confirmation Pattern in the 4-hour chart.

USD/CHF: The USD/CHF is bullish in the long-term, but bearish in the short-term. Further bearish movement is expected this week, but it may not be significant because USD would maintain some stamina. The support levels at 0.9900, 0.9850 and 0.9800 would be tested before the end of the week.

GBP/USD: The outlook on the GBP/USD is currently neutral. A directional bias is expected this week, when price either goes above the distribution territory at 1.3300, or it goes below the accumulation territory at 1.3050 (either of these would require a strong buying or selling pressure). The most likely direction on the GBP/USD is to the upside; whereas GBP may rally against some other currencies like AUD and NZD.

USD/JPY: This pair is bullish in the long-term, but bearish in the short-term. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/JPY: This cross is neutral both in the long-term and the short-term. There is an expectation of a strong directional bias this week, which would most probably be in favor of bulls. Price may rise from the current area in the chart, to reach the supply zones at 132.50 (which was tested on Friday), 133.00 and 134.50.

Source: www.instaforex.com

450

Daily analysis of major pairs for November 14, 2017

There is a promising “buy” signal on the EUR/USD. Since the low of last week (1.1553), price has gone upwards by 120 pips; now above the support line at 1.1650. The next target is the resistance line at 1.1700, which would be reached very soon. The resistance line is supposed to be exceeded after it is tested.

EUR/USD: There is a promising “buy” signal on the EUR/USD. Since the low of last week (1.1553), price has gone upwards by 120 pips; now above the support line at 1.1650. The next target is the resistance line at 1.1700, which would be reached very soon. The resistance line is supposed to be exceeded after it is tested.

USD/CHF: The USD/CHF is bullish in the long-term, but bearish in the short-term. Price consolidated on Monday, and may rise upwards (as volatility increases), but it may not be significant because USD would maintain some stamina. The support levels at 0.9900, 0.9850 and 0.9800 would be tested before the end of the week.

GBP/USD: There has not been any vivid changes on the Cable. A directional bias is expected this week, when price either goes above the distribution territory at 1.3300, or it goes below the accumulation territory at 1.3050 (either of these would require a strong buying or selling pressure).

USD/JPY: This pair did nothing special on November 13. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/JPY: There is some short-term bullishness on the EUR/JPY at the present – owing to the perceived bullish effort on EUR. There is a Bullish Confirmation Pattern in the 4-hour chart, as price promises to go further upwards (by at least, 150 pips). The next targets are the supply zones at 113.00 and 113.50.

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

451

I just can’t buy EUR/USD until it looks a whole lot more bullish. But I am long EUR/JPY and USD/CHF. I would like to be long USD/JPY but it needs to break out from this 2017 range: its the equivalent of a “killing zone” for trend-followers.

452

Daily analysis of major pairs for November 20, 2017

The USD/JPY became clearly bearish last week, with further bearish movement on Friday. This has resulted in a Bearish Confirmation Pattern in the market, and the demand level at 111.50 could be tested. However, there would be a rally before the end of this week, which may threaten the bearish bias.

EUR/USD: This pair went upwards last week, gaining 200 pips and testing the resistance line at 1.1850. Price has retraced a bit, but it could go upwards again to test that resistance line (possibly breaching it to the upside). There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way.

USD/CHF: This currency trading instrument dropped this week. It tried to go upwards on Thursday, but it came down again on Friday, thus emphasizing the bearish bias on the market. This week, further bearish movements may enable price to reach the support levels at 0.9850 and 0.9800.

GBP/USD: The Cable is essentially neutral and that has been going on for about 4 weeks. For the neutrality to end, price would need to go above the distribution territory at 1.3300; or go below the accumulation territory at 1.3050. As long as price hovers between the two aforementioned boundaries, the bias on the market would remain neutral.

USD/JPY: The USD/JPY became clearly bearish last week, with further bearish movement on Friday. This has resulted in a Bearish Confirmation Pattern in the market, and the demand level at 111.50 could be tested. However, there would be a rally before the end of this week, which may threaten the bearish bias.

EUR/JPY: This cross went upwards last week, moving briefly above the supply zone at 133.50. Had price been able to stay above the supply zone, things would have remained bullish. But price moved downwards by 160 pips from the high of last week (133.87), and closed at 132.15. Further bearish movement is possible before price makes a U-turn this week.

Source: www.instaforex.com

453

Daily analysis of major pairs for November 21, 2017

In a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/USD: This pair made an invalid bearish effort last week – while the recent bullish bias remains valid. Price could be seen going upwards this week. There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way.

USD/CHF: In the last few trading days, price has been characterized by short-term upswings and downswings. Some visible bullish effort has been seen so far this week; but there would not be a bullish signal in the market, until the resistance level at 1.0000 is breached to the upside. That would not be an easy thing to achieve.

GBP/USD: A short-term bullish signal has been generated on this market. There is a Bullish Confirmation Pattern in the 4-hour chart, which is supposed to be more conspicuous as price journeys further northwards. The next targets for bulls could be the distribution territories at 1.3250 and 1.3300.

USD/JPY: In a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/JPY: In a context of a short-term downtrend, the EUR/JPY bounced upwards after testing the demand zone at 131.50. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply zone at 133.50 is breached to the upside (which would require strong bullish pressure).

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

454

Daily analysis of major pairs for November 27, 2017

The USD/JPY pair is bearish. Price went downwards by 100 pips last week, closing on a bearish note. There is a Bearish Confirmation Pattern in the market, and it is possible that the demand level at 111.00 would be tested again. However, a rally is expected before the end of this week.

EUR/USD: This currency trading instrument went sideways on Monday and Tuesday and then began moving upwards until the end of the week. A minimum of 210 pips have been gained, as price closed above the support line at 1.1900, going towards the resistance line at 1.1950. The resistance line would even be exceeded.

USD/CHF: The USD/CHF was forced to go downwards last week, owing to the buying pressure in the EUR/USD. Price went downwards to test the support level at 0.9800. This week, further downwards movement is possible, especially as long as the EUR/USD experiences buying pressure. Therefore, the support levels at 0.9750 and 0.9700 could be reached.

GBP/USD: The GBP/USD sent upwards gradually last week, until there is a bullish bias on the market. The market can continue going upwards, reaching the distribution territories 1.3350 and 1.3400. On the other hand, the market can begin to go downwards somewhere in December, for the outlook on GBP pair is strong bearish for that month.

USD/JPY: The USD/JPY pair is bearish. Price went downwards by 100 pips last week, closing on a bearish note. There is a Bearish Confirmation Pattern in the market, and it is possible that the demand level at 111.00 would be tested again. However, a rally is expected before the end of this week.

EUR/JPY: This cross is bullish in the short-term, but neutral in the long-term. After testing the demand zone at 131.50, the market went upwards by 170 pips, closing above the demand zone at 133.00. Since the outlook on JPY pair is bullish for this week (and owing to the stamina in EUR itself), it is expected that price would continue going upwards.

Source: www.instaforex.com

455

Daily analysis of major pairs for November 28, 2017

The USD/CHF did not do anything significant on Monday. This week, further downwards movement is possible, especially as long as the EUR/USD experiences buying pressure. Therefore, the support levels at 0.9750 and 0.9700 could be reached.

EUR/USD: After testing the resistance line at 1.1950, the EUR/USD retraced back a bit. That retracement could be seen as another opportunity to go long when things are slightly bearish, and in the context of an uptrend. Price would still go upwards towards the resistance lines at 1.1950, and most importantly, 1.2000.

USD/CHF: The USD/CHF did not do anything significant on Monday. This week, further downwards movement is possible, especially as long as the EUR/USD experiences buying pressure. Therefore, the support levels at 0.9750 and 0.9700 could be reached.

GBP/USD: There remains a bullish bias on the GBP/USD market. The market can continue going upwards, reaching the distribution territories 1.3350 and 1.3400. Price could also end up trending downwards strongly, especially when volatility breaks out, for the outlook on GBP pairs is bearish for the week and the month.

USD/JPY: The USD/JPY pair is bearish. Price went downwards by 100 pips last week, but it did not do anything noteworthy on November 27. There is a Bearish Confirmation Pattern in the market, and it is possible that the demand level at 111.00 would be tested again. However, a rally is expected before the end of this week.

EUR/JPY: The EUR/JPY cross went south yesterday – which clearly shows that the market has been experiencing a series of upswings and downswings (in the short-term). It would be prudent to stay out of the market until there is a Bullish (or Bearish) Confirmation Pattern in the market, which would be brought about by a directional movement.

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

456

Daily analysis of major pairs for December 4, 2017

The persistent bullish effort on GBP/USD has already paid off, and price has gained 460 pips since November 13. There was a slight bearish correction on Friday, after which price would resume its bullish journey, targeting the distribution territories at 1.3500, 1.3550 and 1.3600.

EUR/USD: The EUR/USD met a considerable challenge last week –which threatened the recent bullishness in the market. However, bulls were able to save the bias on Thursday as they pushed price slightly higher. Further bullish movement is possible this week, for price could target the resistance lines at 1.1900, 1.1950 and 1.2000. A stubborn opposition would be met the resistance line at 1.20000.

USD/CHF: This pair made effort to rally last week, but the rally effort was rejected around the resistance level at 0.9850 (which was briefly breached to the upside, and price could not stay above it). There was a large pullback on Friday, which put more emphasis on the recent bearish bias. There cannot be a meaningful rally on the USD/CHF as long as the EUR/USD is able to showcase its strength.

GBP/USD: The persistent bullish effort on GBP/USD has already paid off, and price has gained 460 pips since November 13. There was a slight bearish correction on Friday, after which price would resume its bullish journey, targeting the distribution territories at 1.3500, 1.3550 and 1.3600.

USD/JPY: The bias on this currency trading instrument is essentially bearish. After testing the supply level at 114.50 in November, price went downwards by 330 pips. Nonetheless, there was a rally attempt last week, which would enable sellers to enter the market at great prices, provided price goes southwards from here.

EUR/JPY: This cross is choppy in the long-term and bullish in the short-term. Price went downwards on Monday and Tuesday, reaching the demand zone at 132.00 and then going upwards on Wednesday. The supply zone at 134.00 was reached before there was the ongoing bearish correction. Price should go upwards this week, reaching the supply zone at 134.00, breaching it to the upside, and putting more emphasis on the novel bullish bias.

Source: www.instaforex.com