Instaforex Trading Forecasts

Commercial Content Analysts
204

The GBP/USD moved upwards nicely last week – a movement of 350 pips. Since June 8, 2015, the price has moved upwards by 650 pips. The distribution territory at 1.5900 is now being threatened and it could be slashed to the upside, as bulls target another distribution territory at 1.5950. However, the pair could reverse massively before the end of this week or this month.

EUR/USD: This pair remains a bull market, for the bulls were able to keep the price upwards in spite of the bears’ effort to push it down. The possible targets for this week are the resistance lines at 1.1450 and 1.1500. On the downside, there are support lines at 1.1250 and 1.1200.

USD/CHF: This is a bear market. The selling pressure that happened last week enabled the recalcitrant resistance level at 0.9250 to be breached to the downside (including another resistance level at 0.9200). The support level at 0.9150 has also been tested and it could be tested again. It could even be breached to the downside. As long as the price is unable to go above the resistance level at 0.9350, the bearish outlook would remain intact.

GBP/USD: The GBP/USD moved upwards nicely last week – a movement of 350 pips. Since June 8, 2015, the price has moved upwards by 650 pips. The distribution territory at 1.5900 is now being threatened and it could be slashed to the upside, as bulls target another distribution territory at 1.5950. However, the pair could reverse massively before the end of this week or this month.

USD/JPY: Following some protracted consolidation that first happened last week, there was a false bullish breakout in the market, which happened briefly before the bears pushed down the price. There may be further downwards movement this week.

EUR/JPY: Although the outlook here is bullish, the price condition is not stable. This week would determine whether the price would continue going upwards or whether it would go downwards: depending largely on whatever happens to the EUR.

Source: www.instaforex.com

205

The USD/JPY went upwards slightly on Monday, though the market is weak. Unless the supply level at 124.50 is breached to the upside, this would be seen as an opportunity to sell short. With further selling pressure, the demand levels at 122.50 and 122.00 could be breached to the downside.

EUR/USD: In spite of the uncertainties surrounding the EUR/USD, the bullish outlook on the market still holds. It may not be difficult for the price to test the resistance line at 1.1450 (that resistance line could even be breached to the upside); plus the support line at 1.1250 should do a good job in stalling the bear’s machinations.

USD/CHF: This is a bear market and the recent price action has been volatile. The support level at 0.9150 is now an obstacle to the bear, but once it is breached to the downside, the next target would be the support line at 0.9100. Failure to break the support line at 0.9150 could portend a beginning of the bull’s hegemony.

GBP/USD: There has been a slight drop in the Cable on Monday. However, the slight drop is far from invalidating the existing Bullish Confirmation Pattern in the chart. There is a distribution territory at 1.5950 and an accumulation territory at 1.5750.

USD/JPY: The USD/JPY went upwards slightly on Monday, though the market is weak. Unless the supply level at 124.50 is breached to the upside, this would be seen as an opportunity to sell short. With further selling pressure, the demand levels at 122.50 and 122.00 could be breached to the downside.

EUR/JPY: Although the outlook here is bullish, the price condition is not stable. This week would determine whether the price would continue going upwards or whether it would go downwards: depending largely on whatever happens to the EUR. Right now, the market is slightly bullish.

Source: www.instaforex.com

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206

The GBP/USD fell by roughly 200 pips last week, threatening the recent bullish outlook on the market. The bullish outlook would be valid only as long as the accumulation territory at 1.5650 is not broken to the downside. Once the accumulation territory is breached to the downside, the outlook would become bearish – an event that is more likely this week. This would also affect other GBP pairs.

EUR/USD: There is already a bearish signal on this pair, though there is a formidable barrier to the bears’ interest at the support line of 1.1150. A break of that support line would enable the price to go further southwards more smoothly.

USD/CHF: This market has the propensity to go upwards, which would become possible in case the EUR/USD goes further downwards. There is a stubborn resistance level at 0.9400, which the bulls need to breach in order to maintain the existing dominance.

GBP/USD: The GBP/USD fell by roughly 200 pips last week, threatening the recent bullish outlook on the market. The bullish outlook would be valid only as long as the accumulation territory at 1.5650 is not broken to the downside. Once the accumulation territory is breached to the downside, the outlook would become bearish – an event that is more likely this week. This would also affect other GBP pairs.

USD/JPY: This is currently a persistent sideways market which has been going on for a few weeks. There is bound to be a break above the supply level at 124.50 or below the demand level at 122.50. On the USD/JPY, there would be a great directional movement in July 2015 (and most probable in direction of bears).

EUR/JPY: The EUR/JPY is a bear market, and since the bearish signal has been formed, the market has been going in a sideways movement. However, there could be a significant movement today or next week. The fundamental events in the Eurozone could cause a great impact in the market; plus the situation of the Euro would be the greatest determinant of the movement on this cross.

Source: www.instaforex.com

207

The EUR/USD opened with a massive gap-down this week. Other EUR pairs also opened with massive gap-downs. These gaps signify great volatility for this week, which has already started. The gaps have been filled, and this means that most EUR pairs would go upwards this week. The EUR/USD went upwards on Monday.

EUR/USD: The EUR/USD opened with a massive gap-down this week. Other EUR pairs also opened with massive gap-downs. These gaps signify great volatility for this week, which has already started. The gaps have been filled, and this means that most EUR pairs would go upwards this week. The EUR/USD went upwards on Monday.

USD/CHF: This pair opened with a small gap-up and later went downwards on Monday. The pair went downwards by over 120 pips, and this could cause a threat to the recent bullish outlook in the market. A movement below the support level at 0.9200 could result in a bearish bias.

GBP/USD: This outlook on this pair is bullish, as it was not affected by the gaps that occurred at the beginning of the week. The bullish outlook would be valid only as long as the accumulation territory at 1.5650 is not broken to the downside. Once the accumulation territory is breached to the downside, the outlook would become bearish – an event that is more likely this week. This would also affect other GBP pairs.

USD/JPY: This currency trading instrument gapped down at the open of the market, and the price trended downwards afterwards. Since the expectation for this month is bearish, it is possible that the price would continue trending further downwards.

EUR/JPY: Just like the EUR/USD, the EUR/JPY gapped down when the market opened. The market price dropped by 400 pips, testing the demand zone at 134.00, and later bounced upwards by over 350 pips. Further upwards movement could result in a Bullish Confirmation Pattern.

Source: www.instaforex.com

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208

The USD/JPY is currently a market in which short-term traders and scalpers thrive. There have been short-term swings in the market – as the price oscillates between the supply level at 124.00 and the demand level at 122.00. There is a need for a break above the aforementioned supply level or demand level before there could be a strong directional movement.

EUR/USD: This is a bear market and it is expected that the price would continue to go further downwards. At least, the price should be able to test the support lines at 1.1000 and 1.0950 this week. Only a movement above the resistance line at 1.1400 could render this expectation invalid.

USD/CHF: Following the severe bearish plunge that happened on June 29, the USD/CHF has rallied vividly. From the support level at 0.9250, the price has gone upwards by 250 pips, testing the resistance level at 0.9500. There is currently a shallow bearish retracement in the market but the resistance level at 0.9500 could be tested again, and eventually breached to the upside. When the price goes below the support line at 0.9250, then the existing bullish outlook would be rendered useless.

GBP/USD: As forecasted, the GBP/USD broke below the distribution territory at 1.5650, testing the recalcitrant accumulation territory at 1.5600. The recent equilibrium phase is over, and it has resulted in a Bearish Confirmation Pattern. There is a possibility that this is the beginning of a protracted downtrend.

USD/JPY: The USD/JPY is currently a market in which short-term traders and scalpers thrive. There have been short-term swings in the market – as the price oscillates between the supply level at 124.00 and the demand level at 122.00. There is a need for a break above the aforementioned supply level or demand level before there could be a strong directional movement.

EUR/JPY: The effects on the Euro would also have effects on this currency trading instrument in this week. A significant strength in the Euro would cause the instrument to skyrocket; whereas, any serious weakness in the Euro would cause it to plummet.

Source: www.instaforex.com

209

The EUR/USD and most other EUR pairs, opened with downward gaps this week. The gaps have been filled in most cases, but the EUR/USD in particular remains a bear market. For the bearish outlook to remain stronger, the price needs to break the support line at 1.0950 to the downside. As long as the price is not able to breach the resistance line at 1.1250 to the upside, the bearish outlook would be rational.

EUR/USD: The EUR/USD and most other EUR pairs, opened with downward gaps this week. The gaps have been filled in most cases, but the EUR/USD in particular remains a bear market. For the bearish outlook to remain stronger, the price needs to break the support line at 1.0950 to the downside. As long as the price is not able to breach the resistance line at 1.1250 to the upside, the bearish outlook would be rational.

USD/CHF: This is a bull market and the price would continue going further north; especially in the face of continued weakness in the EUR/USD. The recalcitrant resistance level at 0.9500 is a major obstacle to the bulls: only stronger buying pressure would cause it to be breached.

GBP/USD: There is a ‘sell’ signal on this pair, but there is a need for the price to break the accumulation territory at 1.5550 to the downside. Unless the distribution territory at 1.5800 is overcome, the ‘sell’ signal would be in place.

USD/JPY: The USD/JPY is currently a market in which short-term traders and scalpers thrive. There have been short-term swings in the market – as the price oscillates between the supply level at 124.00 and the demand level at 122.00. There is a need for a break above the aforementioned supply level or demand level before there could be a strong directional movement.

EUR/JPY: This cross opened with a gap-down, but quickly recovered afterwards. This is exactly what happened last week (only that the last week movement was stronger). There is a Bearish Confirmation Pattern in the market and the most probable movement is to the south.

Source: www.instaforex.com

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210

Last week, the EUR/JPY tested the demand zone at 133.50 several times, but it was unable to break it to the downside. From that demand zone, the price skyrocketed by 350 pips, closing around the supply zone at 137.00. Further bullish movement towards the supply zone at 138.00 would result in clean Bullish Confirmation Pattern in the market.

EUR/USD: Last week, this pair first went down towards the support line at 1.0950, but further bearish movement was rejected around that support line. From there, the price went upwards by over 200 pips, closing at 1.1158. This bullish movement has put the recent bearish outlook in jeopardy, and in case the price crosses the resistance line at 1.1250 to the upside, it would no longer be logical to open short trades here. Moreover, the movement of the pair would continue to be determined by the events in the Eurozone and they would have impact on the movements of other EUR pairs as well.

USD/CHF: This currency trading instrument did not go upward significantly last week, for the resistance level at 0.9500 prevented the price from experiencing further bullish movement. In order for the bullish bias to continue to be valid, that resistance level must be broken to the upside; otherwise a serious bearish correction could happen.

GBP/USD: The Cable went downwards by 250 pips last week, testing the accumulation territory at 1.5350. From that territory, the price rallied by 150 pips, but still in the context of a downtrend. Unless the distribution territory at 1.5600 is overcome, this could turn out to be an opportunity to sell short at a better price.

USD/JPY: The USD/JPY went downward by 200 pips, reaching the demand level at 120.50. It also rallied by 200 pips last week. This week would determine the dominant bias in the market.

EUR/JPY: Last week, the EUR/JPY tested the demand zone at 133.50 several times, but it was unable to break it to the downside. From that demand zone, the price skyrocketed by 350 pips, closing around the supply zone at 137.00. Further bullish movement towards the supply zone at 138.00 would result in clean Bullish Confirmation Pattern in the market.

Source: www.instaforex.com

211

The USD/JPY rallied by100 pips on Monday, testing the supply level at 123.50. There is now a ‘buy’ signal in the market and the price may eventually test the supply level at 124.00. For the bullish signal to continue to be valid, the price would also need to test the supply level at 125.00 this week; otherwise the risk of a bearish correction would be high.

EUR/USD: This pair nosedived by 130 pips on Monday, giving the existing Bearish Confirmation Pattern in the market a more vivid appearance. The support line at 1.1000 is currently under siege and the risk of it getting broken to the downside is now very high. Should that happen, the next target would be the support line at 1.0950 (which was tested last week). It could be difficult for the price to close below that support line.

USD/CHF: It would normally be expected that the USD/CHF shall go in opposite direction to the EUR/USD - hence the rally on Monday. However, the resistance level at 0.9500 has been reached and it is the level where the bulls found it impossible to push the price further northwards last week and the week before the last week. In case, the bulls also find that resistance level difficult this week, there might be a bearish correction.

GBP/USD: This currency trading instrument continues to be volatile in the context of a downtrend. The downtrend cannot be over until the distribution territory at 1.5650 is breached to the upside. Until then, any rallies in the market could be short-selling opportunities.

USD/JPY: The USD/JPY rallied by100 pips on Monday, testing the supply level at 123.50. There is now a ‘buy’ signal in the market and the price may eventually test the supply level at 124.00. For the bullish signal to continue to be valid, the price would also need to test the supply level at 125.00 this week; otherwise the risk of a bearish correction would be high.

EUR/JPY: Would the price on this cross go upwards or downwards? Time would tell. But in the meantime, it would be great to stay away from the cross until a clear directional bias is confirmed.

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

212

EUR/USD: The EUR/USD dropped by 280 pips last week, closing below the resistance line at 1.0850. The next targets for the bears are located around the support lines at 1.0800 and 1.0750. The recalcitrant resistance lines at 1.0950 and 1.0900 were successfully broken by the bears and thus, they might resist any rally attempts this week.

USD/CHF: As long as the EUR/USD goes down, this pair must go up. The pair moved upward by over 200 pips last week, closing above the support level at 0.9600. A break of the support level at 0.9500 (which was formerly a resistance level) was a major achievement for the bulls. Until the EUR or the CHF gains a lot of stamina, this pair would continue going up.

GBP/USD: This currency trading instrument rallied last week, but further rally was halted at the distribution territory at 1.5650. For the bullish bias to continue to be valid, the distribution territory must be breached to the upside: otherwise there could be a risk of a strong bearish correction this week.

USD/JPY: A few weeks ago, this market began to rally from the demand level at 120.50. It rallied by over 350 pips, going slightly above the demand level at 124.00. With further buying pressure, the supply level at 124.50 would be breached this week.

EUR/JPY: This cross first consolidated last week, but it then broke downwards on Thursday, trending lower and lower gradually. On Friday, the price closed below the supply zone at 134.50; and since there is a strong Bearish Confirmation Pattern in the chart, it is assumed that the journey to the south would continue, especially as long as the EUR is weak.

Source: www.instaforex.com

213

The USD/CHF still shows willingness to go further north by moving upward by 40 pips on Monday. This is a slight continuation of the current dominant bullish bias, and the resistance level at 0.9650 is now under siege. In case the resistance level is breached to the upside, the next target would be the resistance level at 0.9700.

EUR/USD: The bears have not shown any signs of relenting this week, although there was no significant movement on Monday. The Bearish Confirmation Pattern in the market is intact, and as such, the support line at 1.0800 could be violated. In case that support line is breached successfully, the next target would be the support line at 1.0750.

USD/CHF: The USD/CHF still shows willingness to go further north by moving upward by 40 pips on Monday. This is a slight continuation of the current dominant bullish bias, and the resistance level at 0.9650 is now under siege. In case the resistance level is breached to the upside, the next target would be the resistance level at 0.9700.

GBP/USD: Irrespective of the recent consolidation, there is still a clean bullish bias on the Cable. For the bullish bias to continue to be valid, the distribution territory at 1.5650 must be breached to the upside: otherwise there could be a risk of a strong bearish correction this week.

USD/JPY: This currency trading instrument has been trending strongly for most part of this month. The price has closed above the demand level at 124.00, going towards the supply level at 124.50. Should that supply level be broken to the upside, the next target would be another supply level at 125.00.

EUR/JPY: The fate of the EUR/JPY would continue to be determined by whatever happens to the Euro. The Euro is currently week – hence the bearish outlook on the cross. The bearish outlook can only be reversed in case the Euro becomes significantly strong.

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

214

What is happening on the USD/JPY signifies a serious battle between bulls and bears. Although the recent bullish bias in the market remains intact, it is wise to stay away from this pair until there is a clean directional bias in the market. This clean directional bias should be seen this week.

EUR/USD: EUR/USD rose upwards last week and then consolidated till the end of the week. A movement above the resistance lines at 1.1050 and 1.1100 would result in a Bullish Confirmation Pattern in the market. Whereas a movement below the support lines at 1.0900 and 1.0850 would simply reinforce the recent bearish bias in the market. Right now, long trades are not recommended here until there is a clean indication that the bears are leading.

USD/CHF: Surprisingly, the USD/CHF did not come down as seriously as the EUR/USD has gone upwards. Nevertheless, the inability of the USD/CHF to go above the resistance level at 0.9650 means that bulls should approach this market with caution. In case the price fails to rally meaningfully this week, there might be a further bearish correction.

GBP/USD: The Cable closed below the distribution territory at 1.5550 last week, generating a clean “sell” signal. With further bears’ power, the accumulation territories at 1.5450 and 1.5400 would be tested. In case the price moves above the distribution territories at 1.5550 and 1.5600, the current “sell” signal would be invalidated.

USD/JPY: What is happening on this currency trading instrument signifies a serious battle between buyers and sellers. Although the recent bullish bias in the market remains intact, it is wise to stay away from this instrument until there is a clean directional bias in the market. This clean directional bias should be seen this week.

EUR/JPY: This crossed closed on a bullish note last week, moving towards the supply zone at 136.00. This has resulted in a clean bullish outlook, which should continue to hold out unless the Yen gains a considerable amount of stamina. This is a situation that can halt further bullish movement in this market.

Source: www.instaforex.com

215

The EUR/JPY traded further upwards on Monday; thereby adding to the bullish outlook that was started last week. The supply zone at 137.00 has been tested, and in case it is broken to the upside, the bulls would target another supply zone at 138.00.

EUR/USD: Since last week, the EUR/USD has moved upward by at least 300 pips. This has resulted in a vivid Bullish Confirmation Pattern in the market and it is possible that the price would keep on going northwards. The next targets to be reached are the resistance lines at 1.1150 and 1.1200.

USD/CHF: Surprisingly, the bias on the USD/CHF is also bullish – just like the bias on the EUR/USD. The two pairs are supposed to go in opposite ways, but there are rare occasions like this one in which both of them would be going in the same direction (like the current price action on both pairs). But soon, things would soon go out balance and the EUR/USD will go further upwards as the USD/CHF plummets: and the other way round. The only thing that can put an end to the current bullish outlook on the USD/CHF is an event in which the CHF itself becomes very strong. This is expected before the end of this week.

GBP/USD: The Cable is also making some bullish effort, though things look dicey in the market. It would be OK to stay away from this market right now until there would be a confirmed directional bias in the market.

USD/JPY: The price broke downwards from the consolidation phase it recently experienced, testing the demand level at 123.00. This has now resulted in a ‘sell’ signal, for the price could go further south. In addition, it is expected that the price could go further downwards because the Yen might be strengthened before this week runs out.

EUR/JPY: The EUR/JPY traded further upwards on Monday; thereby adding to the bullish outlook that was started last week. The supply zone at 137.00 has been tested, and in case it is broken to the upside, the bulls would target another supply zone at 138.00.

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

216

The EUR/JPY was characterized by high volatility last week, swinging higher and lower in the context of an uptrend. The supply zones at 137.50 and 138.00 could be tested this week, though there are also demand zones at 135.50 and 135.00. A movement below the demand zones could result in a bearish bias.

EUR/USD: There are large upswings and downswings in this market as the bears and the bulls fight for supremacy. This market has a resistance line at 1.1100 and a support line at 1.0900. Either the resistance line or the support line would be breached this week.

USD/CHF: There is a Bullish Confirmation Pattern on the USD/CHF, but the price actions shows that the bulls and the bears are currently fighting a serious battle. Should the bulls dominate this week, the USD/CHF will move above the resistance level at 0.9700. In case the bears win, the pair will move below the support level at 0.9550. A movement below the support level at 0.9500 could mean an end to the current bullish outlook.

GBP/USD: The Cable is strong, but the volatility is high in the market. This week, the price will either break above the distribution territory at 1.5650 or break below the accumulation territory at 1.5550. A breakout to the downside is the most likely.

USD/JPY: This market has moved sideways so far between the supply level at 124.50 and demand level at 123.00. This shows that the market is currently consolidating, and therefore, there would soon be a breakout to the upside or to the downside. In order to put an end to the current consolidation, there must be a breakout above the supply level at 124.50 or a breakout below the demand level at 123.00.

EUR/JPY: The EUR/JPY was characterized by high volatility last week, swinging higher and lower in the context of an uptrend. The supply zones at 137.50 and 138.00 could be tested this week, though there are also demand zones at 135.50 and 135.00. A movement below the demands zone could result in a bearish bias.

Source: www.instaforex.com

217

This USD/JPY has moved sideways so far between the supply level at 124.50 and demand level at 123.00. This shows that the market is currently consolidating, and therefore, there would soon be a breakout to the upside or to the downside. In order to put an end to the current consolidation, there must be a breakout above the supply level at 124.50 or a breakout below the demand level at 123.00.

EUR/USD: The EUR/USD moved slightly lower yesterday, leading to a bearish signal in the market. It is possible that the support line at 1.0900 would be tested today or tomorrow (it might even be breached to the downside). The price action shows that the price still has much room to go south.

USD/CHF: The USD/CHF moved slightly upwards yesterday, leading to a continuation of the extant bullish signal. The resistance level at 0.9700 was tested last week without the price being able to breach it to the upside. The price is now very close to that resistance level, and with persistent buying pressure, may go above it. Failure to do that may signal the end of the bullish bias, because the price must go further upwards for the bullish bias to make sense.

GBP/USD: The volatility is currently high on the Cable, without bulls or bears gaining upper hands. The price will either break above the distribution territory at 1.5650 or break below the accumulation territory at 1.5550. A breakout to the downside is the most likely.

USD/JPY: This market has moved sideways so far between the supply level at 124.50 and demand level at 123.00. This shows that the market is currently consolidating, and therefore, there would soon be a breakout to the upside or to the downside. In order to put an end to the current consolidation, there must be a breakout above the supply level at 124.50 or a breakout below the demand level at 123.00.

EUR/JPY: The EUR/JPY is still characterized by high volatility, swinging higher and lower in the context of an uptrend (things are now becoming a little choppy). The supply zones at 137.50 and 138.00 could be tested this week, though there are also demand zones at 135.50 and 135.00. A movement below the demands zone could result in a bearish bias.

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

218

The GBP/USD went bearish last week, breaking southward out of the recent equilibrium phase. The price tested the accumulation territory at 1.5450 and later bounced upward from there. The bias on the market is bearish and it is possible that the accumulation territory would be tested again; it may even be breached to the downside.

EUR/USD: This is a highly volatile market, though things appear to favor the bears right now. There is a good support line at 1.0850, which was tried several times last year, but without success. For the current bearish outlook to continue, the support line must be breached to the downside. This requires a strong selling pressure.

USD/CHF: This pair is one of the few majors which went in predictable directions last week. From the support level at 0.9650, the price went upward by roughly 200 pips, closing around the resistance level at 0.9850. There is a Bullish Confirmation Pattern in the market and the price must continue to go further north for the pattern to be valid. Therefore the targets for this week are located at the resistance levels of 0.9900 and 0.9950. One thing can overturn this expectation – a significant weakness in the USD. It also must be noted that it is unlikely that the USD would reach parity again with the CHF this month, so long trades should be handled with caution.

GBP/USD: The GBP/USD went bearish last week, breaking southward out of the recent equilibrium phase. The price tested the accumulation territory at 1.5450 and later bounced upward from there. The bias on the market is bearish and it is possible that the accumulation territory would be tested again; it may even be breached to the downside.

USD/JPY: There was an end to the protracted sideways direction on this currency trading instrument as the price broke upwards, moving upwards by 100 pips (testing the supply level at 125.00). Further bullish effort was rejected at that supply level and price got corrected to the downside. Since the outlook on JPY pairs is bearish, there is a possibility that the demand level at 123.50 would be tested this week.

EUR/JPY: The EUR/JPY cross does not currently look ‘***y’ (attractive); and since there is no clear sign of victory between the bull and the bear, it is OK to stay away from the market until there would be a trending movement as opposed to a choppy movement.

Source: www.instaforex.com

219

It is intriguing to see that both the USD/CHF and the EUR/USD are trying to go upwards at the same time. According to their nature, the two pairs ought to go in opposite directions. Therefore, the USD/CHF could move south today, in case the EUR/USD continues to go further north.

EUR/USD: This pair traded upwards on Monday, creating a ‘buy’ signal in the market. The price is currently above the support line at 1.1000, and it could reach the resistance line at 1.1100. The bullish outlook would be logical as long as the USD is weak.

USD/CHF: It is intriguing to see that both the USD/CHF and the EUR/USD are trying to go upwards at the same time. According to their nature, the two pairs ought to go in opposite directions. Therefore, the USD/CHF could move south today, in case the EUR/USD continues to go further north.

GBP/USD: The GBP/USD went upwards by over 100 pips on Monday, testing the distribution territory at 1.5600. In case the distribution territory is overcome, the next target would be the distribution territory at 1.5700. On the other hand, there are accumulation territories at 1.5550 and 1.5500.

USD/JPY: It is still sensible to call this currency trading instrument a bull market, though there was no much movement on Monday. The price action in the market reveals that the bulls are intent on driving the price further north.

EUR/JPY: Just like the EUR/USD, the EUR/JPY cross also moved upward on Monday. This movement of 120 pips was strong enough to lead to a strong Bullish Confirmation Pattern in the market. The price may attain the supply zone at 137.50 (and later, another supply zone at 138.00). There cannot be a threat to the bullish bias as long as the price stays above the demand zone at 136.00.

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220

Thank you for the survey! I am still surprised on your bullish tendency on the EUR!!

221

The bullish effort on the Cable has led to a bullish signal on it. However, there is one obstacle to be surmounted – the distribution territory at 1.5650. This distribution territory has adamantly rejected sincere bullish efforts for the past several weeks, and the price needs to close above it if the current bullish signal would continue to make sense. Otherwise, there could be a bearish correction this week.

EUR/USD: The EUR/USD has now become a bull market in the near-term. The price went upwards last week, testing the resistance line at 1.1200. The price could go above the resistance line this week; as it goes towards another resistance lines at 1.1250 and 1.1300. These are the targets for the week, for the Bullish Confirmation Pattern in the market is clear.

USD/CHF: Although this pair went down last week, closing at 0.9758, the recent bullish outlook has not been invalidated. What can invalidate the bullish outlook is an event in which the price closes below the support level at 0.9650. But in case that does not happen, this week can see some commendable bullish attempts, especially if the USD tries to amass lots of stamina.

GBP/USD: The bullish effort on the Cable has led to a bullish signal on it. However, there is one obstacle to be surmounted – the distribution territory at 1.5650. This distribution territory has adamantly rejected sincere bullish efforts for the past several weeks, and the price needs to close above it if the current bullish signal would continue to make sense. Otherwise, there could be a bearish correction this week.

USD/JPY: The Big Picture on this currency trading instrument shows that there is a no dominant trend in the market. Upswings and downswings are often short-lived and sustained trending moves are rather rare. This market is, nevertheless, great for scalpers and intraday speculators. This week, it is expected that the price would either go above the supply level at 125.50 or below the demand level at 123.50. Should this happen, that would mean a strong bullish or bearish outlook.

EUR/JPY: The EUR/JPY cross experienced a significant rally last week, rising from the demand zone at 136.00 and moving somewhat above the supply zone at 138.50. A further rally may be witnessed this week unless the Yen gains too much strength for the Euro, which is a possibility.

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There is no dominant trend in the USD/JPY. Upswings and downswings are often short-lived and sustained trending moves are rather rare. It is expected that the price would either go above the supply level at 125.50 or below the demand level at 123.50. Should this happen, that would mean a strong bullish or bearish outlook.

EUR/USD: The EUR/USD did not move very much yesterday. The little movement that was seen was towards the downside – in the context an uptrend. For the current bullish outlook to become illogical, the support lines at 1.1000 and 1.0950 must be broken to the downside: otherwise the price could make some renewed bullish attempts.

USD/CHF: This pair continues to move sideways while the overall outlook is bullish. What can invalidate the bullish outlook is an event in which the price closes below the support level at 0.9650. But in case that does not happen, this week can see some commendable bullish attempts, especially if the USD tries to amass lots of stamina.

GBP/USD: The adamant distribution territory at 1.5650 has done its job again on Monday – restricting bullish effort successfully. This distribution territory has flatly rejected sincere bullish efforts for the past several weeks, and the price has trended lower, moving below the distribution territory at 1.5600. The accumulation territory at 1.5550 could be tested easily today.

USD/JPY: The Big Picture on this currency trading instrument shows that there is a no dominant trend in the market. Upswings and downswings are often short-lived and sustained trending moves are rather rare. It is expected that the price would either go above the supply level at 125.50 or below the demand level at 123.50. Should this happen, that would mean a strong bullish or bearish outlook.

EUR/JPY: The EUR/JPY moved downwards by only 50 pips yesterday. Now the price is close to the demand zone at 137.50; and there is another demand zone at 137.00. Serious buying pressure is, therefore, needed to send the price upwards again.

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The USD/JPY ended its equilibrium phase of several weeks as it plunged massively last week. Several previously demand levels are now supply levels, and the price is close to the demand level at 121.50, which could be breached easily in case the current selling pressure continues. This is a long awaited bearish signal – it may continue to hold this week.

EUR/USD: This currency trading instrument is now one of the strongest among the majors. From around the support line at 1.1050, the price skyrocketed by more than 320 pips, closing at 1.1384. The resistance line at 1.1400 is an easy target for the bulls this week. Even it would be breached to the upside.

USD/CHF: The USD/CHF has yielded to gravity; diving by 300 pips. There are resistance levels at 0.9550 and 0.9600, which should do a good job in halting bullish attempts this week. There are also support levels at 0.9450 and 0.9400, which would be targeted by the bears. Since the USD is weak and the CHF is very strong, it is reasonable to conclude that the current bearish movement may continue for a while.

GBP/USD: This is a good example of cut-throat battles between the bull and the bear. This pair ought to go upwards in a positive correlation mode with the EUR/USD: it has gone above the recalcitrant accumulation territory at 1.5650. There is a fresh battle at the distribution territory of 1.5700, but the bull should be victorious though it is not an easy thing.

USD/JPY: The USD/JPY ended its equilibrium phase of several weeks as it plunged massively last week. Several previously demand levels are now supply levels, and the price is close to the demand level at 121.50, which could be breached easily in case the current selling pressure continues. This is a long awaited bearish signal – it may continue to hold this week.

EUR/JPY: There is a neat Bullish Confirmation Pattern in this market and there is a tendency that the price may continue to journey upwards, especially in the face of the strength of the Euro. The initial losses seen by the bulls last week have now been recovered and the price might even go higher.

Source: www.instaforex.com