Instaforex Trading Forecasts

Commercial Content Analysts
224

EUR/USD: The EUR/USD has moved upwards by 500 pips since last week. The price spiked even higher, testing the resistance line at 1.1700 before retracing a little bit. Based on the price action in the market, there is still a tendency for the price to move further north. So the resistance line at 1.1700 is the target for this week.

USD/CHF: This pair has moved downwards by 400 pips since last week, and there is still more room for the price to move southward. Unless the resistance levels at 0.9450 and 0.9500 are breached to the upside, the bearish outlook would continue to be valid.

GBP/USD: Bull and bear have continued fighting for supremacy on the Cable. Owing to the current persistent effort of the bull, there is a Bullish Confirmation Pattern in the market: since the price has gone above the accumulation territories at 1.5700 and 1.5750, the distribution territory at 1.5800 is the next target to be reached by the bull.

USD/JPY: Since last week, this currency trading instrument has moved southward by 600 pips. This is one of the strongest movements in this market in this year, and there is still more room for the bearish movement to run. In spite of the recent upwards bounce in the market (from the demand level at 116.50 to the supply level at 119.00), the outlook remains cleanly bearish.

EUR/JPY: The sudden large pullback that happened on this cross on Monday has jeopardized the bullish outlook in the market; neither is there a clean bearish signal yet. This is due to the great strength in the Yen, and it would be OK to stay away from this market until we see what would happen next.

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

225

The last two weeks were characterized by the strongest movement on the EUR/USD in this year. From the support line at 1.1050, the price skyrocketed and peaked at the resistance line of 1.1700 (within a few days). From that peak, the price has been corrected by over 520 pips. This correction has been serious enough to result in a bearish signal in the market, which means that the support line at 1.1100 might be tested easily this week.

EUR/USD: The last two weeks were characterized by the strongest movement on the EUR/USD in this year. From the support line at 1.1050, the price skyrocketed and peaked at the resistance line of 1.1700 (within a few days). From that peak, the price has been corrected by over 520 pips. This correction has been serious enough to result in a bearish signal in the market, which means that the support line at 1.1100 might be tested easily this week.

USD/CHF: In the last two weeks, USD/CHF underwent its second strongest movement so far in the year (apart from the incident that happened on CHF pairs on January 15, 2015). From the resistance level at 0.9750, the price fell by 500 pips before being corrected upwards by 350 pips. This significant correction has violated the recent bearish outlook – resulting in a “buy” signal in the market. A movement above the resistance level at 0.9700 would particularly result in a Bullish Confirmation Pattern in the market.

GBP/USD: The adamant bulls gave up their persistent struggle last week as the Cable yielded to gravity. Since the price managed to test the distribution territory at 1.5800, the price has nosedived by 450 pips, testing the accumulation territory at 1.5350. The market could go further south in this week, as the bias on it is now bearish.

USD/JPY: The last two weeks were characterized by the strongest movement in this year on the USD/JPY. From the supply level at 124.50, price dipped by 800 pips, going briefly below the demand level at 116.50. The price has gone upwards by 500 pips since then, and a further northward movement of 100 pips this week would result in a bullish outlook.

EUR/JPY: Because the Yen is strong, the Euro has fallen against it – just as the Euro is now being corrected lower against the USD. This is a volatile market in which the bears are proving stronger. Last week, the price plummeted by 350 pips, testing the demand zone at 135.50. The demand zone has been tested several times and with the ongoing strength in the Yen, it might be breached to the downside this week.

Source: www.instaforex.com

226

The Cable traded lower on Monday, testing the accumulation territory at 1.5350 again. That accumulation territory was also tested last week without breaking it to the downside. The bears need to break it to the downside so that the bearish trend could continue; otherwise there would be a considerable rally.

EUR/USD: This pair traded sideways on Monday, but there could be a noteworthy movement today. The movement could be in favor of the bulls or the bears. Either the price would go above the resistance line at 1.1300 or it would go below the support line at 1.1150. One of those two possibilities would materialize today or tomorrow.

USD/CHF: The USD/CHF made a faint attempt to continue its bullish journey. A movement above the resistance level at 0.9700 would reveal determination by the bulls to push the price further north. Nonetheless, a movement below the support level at 0.9550 would lay emphasis on a bearish outlook.

GBP/USD: The Cable traded lower on Monday, testing the accumulation territory at 1.5350 again. That accumulation territory was also tested last week without breaking it to the downside. The bears need to break it to the downside so that the bearish trend could continue; otherwise there would be a considerable rally.

USD/JPY: The last two weeks were characterized by the strongest movement in this year on the USD/JPY. From the supply level at 124.50, price dipped by 800 pips, going briefly below the demand level at 116.50. The price has gone upwards by 500 pips since then, and a further northward movement of 100 pips this week would result in a bullish outlook.

EUR/JPY: The volatility on this cross has continued, but without any directional movement so far this week. There would soon be a trend continuation which would probably be in favor of the bears; unless the Yen is weakened.

Source: Tallinex - FX Trading Software

227

The Cable plunged by 260 pips last week, closing below the distribution territory at 1.5200. The accumulation territory at 1.5100 could be tested this week, unless the bulls push the price upwards above the distribution territories at 1.5300. This means that we would see some bullish effort this week.

EUR/USD: For the most of the last week, this market consolidated to the downside. There could be a breakout this week (most probably in favor of the bulls). Thus, the resistance lines at 1.1300 and 1.1400 could be reached. On the other hand, there are support lines at 1.1050 and 1.1000.

USD/CHF: This currency trading instrument went upwards by 150 pips last week, going into the resistance level at 0.9750. This resistance level has become a big barrier that must be overcome for the bullish journey to continue, though slowly and steadily. There are some hindrances to the bullish expectation: a measure of stamina in the EUR/USD could cause the USD/CHF to get corrected lower, plus any measure of stamina in the CHF could half further rally on the USDCHF.

GBP/USD: The Cable plunged by 260 pips last week, closing below the distribution territory at 1.5200. The accumulation territory at 1.5100 could be tested this week, unless the bulls push the price upwards above the distribution territories at 1.5300. This means that we would see some bullish effort this week.

USD/JPY: This currency trading instrument traded south last week, giving way to a more vivid Bearish Confirmation Pattern in the market. There is a possibility that the demand levels at 118.00 and 117.50 could be tested this week; though a serious weakness in the Yen could cause the USD to be strengthened against the Yen.

EUR/JPY: The EUR/JPY cross dived by 350 pips, causing a directionally bearish bias on the market. There could be some attempts to test the demand zones at 132.00 and 131.50 – albeit there could also be a bullish breakout any day. This is the outlook for the week.

Source: www.instaforex.com

228

The Cable went upward 100 pips on Monday – in the context of a downtrend. This upward movement could be seen as a rally in a downtrend, unless the distribution territories 1.5350 and 1.5400 are overcome. There are also accumulation territories at 1.5200 and 1.5150.

EUR/USD: This pair simply traded sideways on Monday, without any directional movement. The price would either break above the resistance lines at 1.1250 and 1.1300; or break below the support lines at 1.1100 and 1.1050. A break above the aforementioned resistance lines is more likely.

USD/CHF: The price action seen on the USD/CHF so far shows an ongoing determination to continue the current bullish journey. Nonetheless, any meaningful gain of stamina on the EUR/USD would send the USD/CHF south, plus any signs of strength in the CHF would also cause the USDCHF to go south.

GBP/USD: The Cable went upward 100 pips on Monday – in the context of a downtrend. This upward movement could be seen as a rally in a downtrend, unless the distribution territories at 1.5350 and 1.5400 are overcome. There are also accumulation territories at 1.5200 and 1.5150.

USD/JPY: The Bearish Confirmation Pattern on this currency trading instrument is intact. There is a possibility that the demand levels at 118.00 and 117.50 could be tested this week; though a serious weakness in the Yen could cause the USD to be strengthened against the Yen.

EUR/JPY: Following the recent bearish plunge in the market, the price has experienced a slight upward bounce. This would either prove to be a transient rally attempt when things still look bearish, or it might portend a beginning of a meaningful bullish effort, especially when the Yen losses some steam.

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

229

The EUR/JPY cross, which is now one of the strongest trending among the majors, moved upwards by 400 pips last week. The price is now close to the supply zone at 137.00, and it is possible that the supply zone would be breached easily when the market opens. The next targets for this week are located at the supply zones of 138.00 and 138.50.

EUR/USD: As it was anticipated, this pair broke upwards after a few days of consolidation. The price is now close to the resistance line at 1.1350 – which would be easily overcome in the face of the current buying pressure in the market. Other EUR pairs could also gain some strength this week.

USD/CHF: This currency trading instrument, though choppy, consolidated largely last week. The price tested the resistance level at 0.9800 several times but it could not break it to the upside. The price is currently threatening to break downwards, but this would not really happen until the price goes below the support level at 0.9600. A strong EUR/USD, coupled with a strong CHF, could scuttle all the effort of the bulls on the USD/CHF.

GBP/USD: The Cable made some commendable effort to go upwards last week. The price moved upwards 250 pips, closing at 1.5427. With further bullish attempts, the distribution territories at 1.5500 and 1.5550 would be attained this week. After all, there is a Bullish Confirmation Pattern in the market.

USD/JPY: This pair moved largely sideways last week, though there was a slight movement to the upside before things went flat. There is supposed to be a breakout in any day this week, which would make the price go above the supply level at 122.00 or below the demand level at 120.00. By then, there would have been a directional movement in the market.

EUR/JPY: The EUR/JPY cross, which is now one of the strongest trending among the majors, moved upwards by 400 pips last week. The price is now close to the supply zone at 137.00, and it is possible that the supply zone would be breached easily when the market opens. The next targets for this week are located at the supply zones of 138.00 and 138.50.

Source: www.instaforex.com

230

The USD/CHF did not experience any significant movement on Monday, owing to the lack of momentum in the market. There would be a breakout to the upside or to the downside today, pushing the price above the resistance level at 0.9800 or below the support level at 0.9600. When a breakout does occur, it would probably be in favor of the bears. Nevertheless, a strong trend is needed for this to happen.

EUR/USD: This pair did not trend directionally yesterday because there is no steam in the market. A breakout to the upside or to the downside is anticipated today, which would most probably favor the bulls. When this happens, we would see the price aiming for the resistance line at 1.1400.

USD/CHF: The USD/CHF did not experience any significant movement on Monday, owing to the lack of momentum in the market. There would be a breakout to the upside or to the downside today, pushing the price above the resistance level at 0.9800 or below the support level at 0.9600. When a breakout does occur, it would probably be in favor of the bears. Nevertheless, a strong trend is needed for this to happen.

GBP/USD: This currency trading instrument did not move so much on Monday. With further bullish attempts, the distribution territories at 1.5500 and 1.5550 would be attained this week. After all, there is a Bullish Confirmation Pattern in the market.

USD/JPY: This pair moved largely sideways on Monday. There is supposed to be a breakout in any day this week, which would make the price go above the supply level at 122.00 or below the demand level at 120.00. By then, there would have been a directional movement in the market.

EUR/JPY: The EUR/JPY got corrected downwards yesterday, by at least 100 pips. However, there is still a bullish outlook on the market, which cannot be violated as long as the price stays above the demand zone at 134.50. This would require a strong bearish trend to happen, which does not exist right now.

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

231

The USD/JPY moved sideways throughout the last week, without any significant movement to the upside or to the downside. There would be a serious breakout any day this week, which would most probably favor the bears. There is a demand level at 119.00 and there is a support level at 121.50.

EUR/USD: This pair is still bullish on outlook, though threatened. The price managed to test the resistance line at 1.1450, before being corrected to the downside. The downside movement has not been strong enough to render the current bullish outlook invalid, unless the support line at 1.1200 is breached to the downside.

USD/CHF: The USD/CHF remains a bear market, though there is a challenge to the bearishness in the market. As long as the resistance level at 0.9800 is not broken to the upside, the bearishness would be a rational thing. The market is expected to continue moving downwards this week; coupled with the fact that the resistance level at 0.9800 is a formidable challenge to the bulls.

GBP/USD: This pair went upwards by 300 pips last week, rising from the accumulation territory at 1.5350, and reaching the distribution territory at 1.5650. From that distribution territory, the price has eased by 110 pips. There would be strong volatility in the market this week, for the price would perform a series of upswings and downswings.

USD/JPY: This pair moved slightly south on Thursday, but it cannot be said that the current equilibrium phase is over, for this might be a false breakout. Only a movement below the demand level at 119.00 would show that the trend has really become bearish. There is a supply level at 122.00.

EUR/JPY: This cross is highly volatile with serious struggles between the bulls and the bears. The determinant of this week’s movement on the cross is the situation on the EUR and the JPY – a stronger JPY would cause the cross to tumble and a stronger EUR could cause it to skyrocket. The outlook on JPY pairs remains bearish, and therefore, the cross has a high probability of trending downwards.

Source: www.instaforex.com

232

Since testing the distribution territory at 1.5650, the Cable has been coming down gradually, though the bullish outlook is still valid. Any movement below the accumulation territory at 1.5400 could lead to a fresh bearish bias. Until that happens, the bias is bullish.

EUR/USD: The EUR/USD has continued the bearish journey it started on Friday. From the resistance line at 1.1450, the price has gone down by 250 pips. The price is now below the resistance line at 1.1200, going towards the support line at 1.1150. This bearish movement has led to a Bearish Confirmation Pattern in the market.

USD/CHF: This pair has made another faint attempt to continue the bullish journey it started on Friday. From the support level at 0.9550, the price has gone upwards by, at least, 170 pips. This upwards movement is not yet strong enough to lead to any serious outlook, unless the price goes above the resistance level at 0.9800. Only a serious plunge in the EUR/USD and a great stamina in the USD could make the USD/CHF go above the resistance level at 0.9800. Until that happens, one might consider staying away from this market.

GBP/USD: Since testing the distribution territory at 1.5650, the Cable has been coming down gradually, though the bullish outlook is still valid. Any movement below the accumulation territory at 1.5400 could lead to a fresh bearish bias. Until that happens, the bias is bullish.

USD/JPY: The current equilibrium phase is not yet over in this market. This week, the price might go above the supply level at 121.50 or below the demand level at 119.00. Until that happens, this would remain an equilibrium market, with the price swinging between the aforementioned support and resistance levels.

EUR/JPY: This cross has also continued journeying southwards – something that started on Friday. There is now a confirmed bearish signal in the market, which could continue to be valid unless the EUR gains loads of strength and the Yen eases a little.

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

233

The Cable fell 400 pips last week, testing the accumulation territory at 1.5150. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least, 200 pips this week. The accumulation territories at 1.5100 and 1.5000 are potential targets for the bears.

EUR/USD: This is a bear market, in which the bulls are making relentless effort to push the price upwards. The bulls would not be deemed as being successful until the resistance line at 1.1300 is overcome. Until then, this is a bear market.

USD/CHF: The USD/CHF trended upwards in a directional mode last week, going above the resistance level at 0.9800 briefly before closing below it on Friday. There is a possibility that the resistance level might be tried and breached to the upside again. Only a serious stamina in the EUR/USD could send the USD/CHF plunging southwards.

GBP/USD: The Cable fell 400 pips last week, testing the accumulation territory at 1.5150. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least, 200 pips this week. The accumulation territories at 1.5100 and 1.5000 are potential targets for the bears.

USD/JPY: This is a strong equilibrium market in which there is no clear uptrend or downtrend. It is better for swing and position traders to stay away from the market until there is a reliable breakout from the strong equilibrium phase; and this would require at least, a movement of 200 pips upwards or downwards. Right now, the market is OK for scalpers and intraday traders.

EUR/JPY: The outlook on the EUR/JPY is bearish – though the bulls are making a serious attempt to push it upwards. The EUR/JPY first trended downwards last week, and then it bounced upwards. As long as the price is under the supply zone at 136.00, the outlook is bearish. So one might not go long until the supply zone is breached to the upside.

Source: www.instaforex.com

234

The USD/CHF experienced a large pullback yesterday, but that was not serious enough to override the extant bullish outlook. Only a movement below the support level at 0.9650 could render the bullish outlook invalid; and for that to happen, a significant rally in the EUR/USD is needed.

EUR/USD: On Monday, this pair made some heartwarming bullish effort – which is also visible on most other EUR pairs. The bullish effort that happened on Monday was not serious enough to override the extant bearish bias on the market. Nevertheless, any movement above the resistance line at 1.1300 would jeopardize the existing bearish outlook.

USD/CHF: The USD/CHF experienced a large pullback yesterday, but that was not serious enough to override the extant bullish outlook. Only a movement below the support level at 0.9650 could render the bullish outlook invalid; and for that to happen, a significant rally in the EUR/USD is needed.

GBP/USD: The GBP/USD consolidated on Monday. There is a clean Bearish Confirmation Pattern in the market and the price could still continue its downwards journey by at least, 200 pips this week. The accumulation territories at 1.5100 and 1.5000 are potential targets for the bears.

USD/JPY: This is a strong equilibrium market in which there is no clear uptrend or downtrend. It is better for swing and position traders to stay away from the market until there is a reliable breakout from the strong equilibrium phase; and this would require at least, a movement of 200 pips upwards or downwards. Right now, the market is OK for scalpers and intraday traders.

EUR/JPY: The outlook on the EUR/JPY is bearish – though the bulls are making a serious attempt to push it upwards. There is a need for the cross to move further upwards by at least, 250 pips before the bearish outlook can become illogical, and until that happens, this is a bear market.

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

235

The USD/CHF performed a large pullback on Friday, in the context of an uptrend. Unless the price goes below the support level at 0.9600, the pullback would proffer a wonderful opportunity to go long at a better price. The resistance level at 0.9800 could be tested this week, but a strong buying pressure is required for the resistance level at 0.9850 to be broken.

EUR/USD: The EUR/USD was volatile last week, being alternated with short-term bullish and bearish swings. The rally that took place of October 2, 2015 enabled the price to test the resistance line at 1.1300. However, the price could not close above the resistance line, since it eased a little. The price could ease further today, enabling the support lines at 1.1150 and 1.1100 to be tested.

USD/CHF: The USD/CHF performed a large pullback on Friday, in the context of an uptrend. Unless the price goes below the support level at 0.9600, the pullback would proffer a wonderful opportunity to go long at a better price. The resistance level at 0.9800 could be tested this week, but a strong buying pressure is required for the resistance level at 0.9850 to be broken.

GBP/USD: The Bearish Confirmation Pattern in this market is still a valid thing; in spite of the last bullish attempt. The bullish attempt could prove to be a false breakout, except the distribution territory at 1.5300 is overcome. There is an expectation of a large movement in this market this week, which would favor either the bull or the bear.

USD/JPY: Owing to the ongoing struggle between the bull and the bear, this currency trading instrument has become quite choppy because there is not yet a strong directional movement. This week, the price would either break the supply level at 121.00 to the upside or break demand level at 118.00 to the downside. This condition must be fulfilled before it can be said that the consolidation phase in the market is over.

EUR/JPY: There is also no large directional movement here; though the bias remains bearish. An upwards movement of 200 pips could lead to a “buy” signal. It is possible that the Yen would lose some strength this week, which would help the price to go further north. Otherwise, we would see a test of the demand zones at 133.50 and 133.00.

Source: www.instaforex.com

236

In the context of a downtrend, the Cable moved downwards a bit on Monday. The Bearish Confirmation Pattern in the market remains valid, and it cannot be rendered ineffectual until the distribution territory at 1.5300 is overcome. Further bearish journey is expected today.

EUR/USD: The EUR/USD has remained volatile, being alternated with short-term bullish and bearish swings. In spite of the high volatility, the price has entered a consolidation phase which would hold out until there is a significant movement to the upside or to the downside. This is what is called a breakout.

USD/CHF: The USD/CHF was also volatile on Monday, making some bullish attempt along the way. Although the price threatened some consolidation, the bias is still bullish; and unless there is a strong bullish breakout on the EURUSD, there would not be a serious plunge here. It should be mentioned again that the outlook on the USD is upbeat.

GBP/USD: In the context of a downtrend, the Cable moved downwards a bit on Monday. The Bearish Confirmation Pattern in the market remains valid, and it cannot be rendered ineffectual until the distribution territory at 1.5300 is overcome. Further bearish journey is expected today.

USD/JPY: Owing to the ongoing struggle between the bull and the bear, this currency trading instrument has become quite choppy because there is not yet a strong directional movement. This week, the price would either break the supply level at 121.00 to the upside or break demand level at 118.00 to the downside. This condition must be fulfilled before it can be said that the consolidation phase in the market is over.

EUR/JPY: The bullish attempt that was seen on this cross on Monday was thwarted by a bearish correction that occurred later on it. Today would determine what the direction in the market would be – whether bullish or bearish. Should the price fail to perform a directional movement, the bias on the market would enter an equilibrium phase.

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

237

The EUR/JPY performed a clean bullish movement on October 9, 2015. This has led to a bullish bias on the market, which could enable the price to go upwards by at least, 200 pips. The supply zones 137.00 and 138.00 could be tried this week.

EUR/USD: The EUR/USD seems to have ended a few weeks of high volatility with no clear direction, having gone upwards last week. In order to sustain this new bullish direction, the price needs to continue its upwards journey, reaching the resistance lines at 1.1400 and 1.1450. There are support lines at 1.1250 and 1.1200, which may not be tested as long as the bullish direction holds.

USD/CHF: It was once noted that the direction on the USD/CHF would largely be determined by the direction of the EUR/USD itself. Since the later has gone upwards, the former has gone downwards. The former (USD/CHF) has started a bearish movement, which would hold out as long as the latter (EUR/USD) is strong.

GBP/USD: The GBP/USD made a nice bullish movement last week – which resulted in a Bullish Confirmation Pattern in the market. This outlook on GBP pairs is bullish for this week, and we may see a continuation of the current bullish journey, taking the price towards the distribution territories at 1.5400 and 1.5500.

USD/JPY: This market remains in an equilibrium phase, not going above the supply level at 121.00 nor going below the demand level at 119.00. There must be a journey above the supply level or below the demand level before it can be said that the equilibrium phase is over (which is something that will happen this week or next week). When a breakout does occur, it would probably be towards the north, for there is an expectation of bullishness on JPY pairs.

EUR/JPY: The EUR/JPY performed a clean bullish movement on October 9, 2015. This has led to a bullish bias on the market, which could enable the price to go upwards by at least, 200 pips. The supply zones 137.00 and 138.00 could be tried this week.

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

238

The Cable is trying to make further bullish effort. The price is now above the accumulation territory at 1.5350, going towards the distribution territory at 1.5400. The distribution territories at 1.5500 and 1.5550 are the ultimate targets for this week, since the outlook on GBP pairs is bullish.

EUR/USD: This pair traded sideways on Monday – in the context of an uptrend. It is very likely that the pair (plus certain other EUR pairs) would rally this week, and therefore, further northwards journey is anticipated. The first target for the bulls is the resistance line at 1.1450.

USD/CHF: There is still a Bearish Confirmation Pattern on the USDCHF. Therefore any rallies that are seen here could be interpreted as short-selling opportunities. The support level at 0.9600 was tested yesterday but it could not be breached to the downside. The support level could be breached this week as the price targets another support level at 0.9550.

GBP/USD: The Cable is trying to make further bullish effort. The price is now above the accumulation territory at 1.5350, going towards the distribution territory at 1.5400. The distribution territories at 1.5500 and 1.5550 are the ultimate targets for this week, since the outlook on GBP pairs is bullish.

USD/JPY: This market remains in an equilibrium phase, not going above the supply level at 121.00 nor going below the demand level at 119.00. There must be a journey above the supply level or below the demand level before it can be said that the equilibrium phase is over (which is something that will happen this week or next week).

EUR/JPY: The EUR/JPY was corrected lower on Monday, though the bullish outlook is valid. The validity of the bullish outlook will hold as long as the demand zone at 135.00 is not broken to the downside. The demand zone, including the one at 135.50, could act as barriers to bearish attempts.

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239

The Cable moved upwards last week, testing the distribution territory at 1.5500 a few times. The price was unable to break above the distribution territory – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside.

EUR/USD: There is a bullish outlook on the pair, though it was corrected lower by the end of the last trading week. The bearish correction could end up being a wonderful opportunity to go long this week (unless the demand level at 1.1250 is broken to the downside). The resistance lines at 1.1450 and 1.1500 could be reached this week.

USD/CHF: There is a Bearish Confirmation Pattern on the USD/CHF; plus the pair would remain under selling pressure as long as the EUR/USD is in a bullish mode. So it is logical to conclude that the movement on the USD/CHF would be largely determined by whatever happens to the EUR/USD.

GBP/USD: The Cable moved upwards last week, testing the distribution territory at 1.5500 a few times. The price was unable to break above the distribution territory – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside. This means that any noticed pullbacks in the market could be taken as opportunities to go long.

USD/JPY: This currency trading instrument has moved back into the neutral territory, owing to the upward bounce that we see after the bearish plunge that happened last week. The price fell by 200 pips and later rose by 150 pips. For a neutral bias to vanish, the price must either go above the supply level at 121.00 or go below the demand level at 118.00.

EUR/JPY: This cross, which traded sideways from Monday till Wednesday last week, broke towards the south on Thursday. The southwards break was strong, but it was not strong enough to jeopardize the existing bullish outlook. A movement below the demand zone at 134.50 would result in a bearish outlook (though it is expected that the demand zone would defend the extant bullish outlook). Any movement above the supply zone at 136.00 would reinforce the existing bullish outlook, which might mean that the pullback which happened on Thursday was a nice opportunity to go long.

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

240

GBP/USD: The price on the GBP/USD was unable to break above the distribution territory at 1.5500 last week – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside. This means that any noticed pullbacks in the market could be taken as opportunities to go long.

USD/JPY: This currency trading instrument is still very much in the neutral territory. For a neutral bias to vanish, the price must either go above the supply level at 121.00 or go below the demand level at 118.00. Until now, swing and position traders might want to stay away from the market.

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

241

The EUR/JPY cross did not move that much on Monday, but some movement is expected this week. A movement below the demand zone at 134.50 would result in a bearish outlook (though it is expected that the demand zone would defend the extant bullish outlook). Any movement above the supply zone at 136.00 would reinforce the existing bullish outlook.

EUR/USD: This pair did not perform any significant movement yesterday (just like most popular pairs). However, there could be some serious movement today or tomorrow, which would most probably be in favor of the bulls. This is because the outlook on the pair is currently bullish.

USD/CHF: There is a Bearish Confirmation Pattern on the USD/CHF; plus the pair would remain under selling pressure as long as the EUR/USD is in a bullish mode. So it is logical to conclude that the movement on the USD/CHF would be largely determined by whatever happens to the EUR/USD.

GBP/USD: The price on the GBP/USD was unable to break above the distribution territory at 1.5500 last week – something that needs to be achieved this week so that the uptrend could continue. The uptrend would be rational as long as the accumulation territory at 1.5200 is not broken to the downside. This means that any noticed pullbacks in the market could be taken as opportunities to go long.

USD/JPY: This currency trading instrument is still very much in the neutral territory. For a neutral bias to vanish, the price must either go above the supply level at 121.00 or go below the demand level at 118.00. Until now, swing and position traders might want to stay away from the market.

EUR/JPY: This cross did not move that much on Monday, but some movement is expected this week. A movement below the demand zone at 134.50 would result in a bearish outlook (though it is expected that the demand zone would defend the extant bullish outlook). Any movement above the supply zone at 136.00 would reinforce the existing bullish outlook, which might mean that the pullback which happened last week was a nice opportunity to go long.

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The USD/JPY trended upwards nicely last week, thus ending the recent protracted equilibrium phase in the market. Since October 15, 2015, the price has moved upwards by roughly 350 pips, almost reaching the supply level at 121.50. Further northward movement is anticipated this week, which may enable the price to reach the resistance levels at 122.00 and 122.50.

EUR/USD: The EUR/USD is now in a strong bearish mode – having fallen by 350 pips last week. The bias is now bearish and the price is supposed to go further south this week. But the price needs to break the psychological support line at 1.1000 to the downside. While this might look like a hard job for the bears, it is attainable.

USD/CHF: The movement on the USD/CHF is largely dictated by the movement on the EUR/USD; and therefore, the strength in the former was transferred indirectly by the weakness in the latter. From the support level at 0.9500, the price moved upwards by 300 pips, now very close to the resistance level at 0.9800. In case the price goes above that resistance level (which is very much likely), the next target for the bulls would be another resistance level at 0.9900.

GBP/USD: The Cable was unable to make any meaningful rally last week because the bulls met a stubborn impediment at the distribution territory at 1.5500. In fact, the price simply went down last week, leading to a “sell” signal in the market. The price needs to go further down so that the “sell” signal could be valid. The Cable might be under selling pressure as long as the EUR/USD itself is weak. They are both positively correlated.

USD/JPY: The USD/JPY trended upwards nicely last week, thus ending the recent protracted equilibrium phase in the market. Since October 15, 2015, the price has moved upwards by roughly 350 pips, almost reaching the supply level at 121.50. Further northward movement is anticipated this week, which may enable the price to reach the resistance levels at 122.00 and 122.50.

EUR/JPY: Due to the sudden weakness in the EUR, the EUR/JPY cross also fell rapidly in the last few days of last week. There is now a Bearish Confirmation Pattern in the market, which would most probably continue as long as the EUR is weak. The only factor that can reverse this is a situation is which the YEN becomes weaker than the EUR.

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The USD/JPY, which traded strongly northwards last week, has been corrected lower so far this week. The price has come down by 110 pips this week, but the bias is still bullish. The bullish bias would remain valid as long as the demand level at 119.50 is not breached to the downside.

EUR/USD: This market, which plunged massively last week, is still in a bearish mode. The Bearish Confirmation Pattern is valid and it cannot be rendered ineffectual unless the price rises above the resistance line at 1.1200. Right now, any rally attempts in the market could be seen as good opportunities to sell short.

USD/CHF: This pair remains in a strong bullish mode, without any signs of much retracement. The targets for this week: the resistance levels at 0.9850 and 0.9900, remain valid. Although, strong continual buying pressure is needed for the resistance levels to be attained, the outlook here is upbeat.

GBP/USD: This currency trading instrument still has the recent “sell” signal on it, though the price is yet to make a directional movement this week. There are accumulation territories at 1.5300 and 1.5250; plus there are distribution territories at 1.5400 and 1.5450. The price would go above the distribution territories or below the accumulation territories this week.

USD/JPY: The USD/JPY, which traded strongly northwards last week, has been corrected lower so far this week. The price has come down by 110 pips this week, but the bias is still bullish. The bullish bias would remain valid as long as the demand level at 119.50 is not breached to the downside.

EUR/JPY: This cross has continued its bearish journey in a slight manner. The bearish bias is supposed to continue, owing to the current weakness in the EUR and the stamina in the JPY. For this bias to be reversed, the EUR would need to become stronger than the JPY, which might not be possible this week.

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