Instaforex Trading Forecasts

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285

Last week, the Cable dropped by 320 pips from Monday to Wednesday, and rose steeply by 450 pips on Wednesday and Thursday; only to consolidate on Friday. The price has been trying to go above the distribution territory at 1.4500, which has been refusing further northward movement. That distribution territory would be broken to the upside this week, as the price moves further north.

EUR/USD: The EUR/USD broke upwards last week, moving north by 280 pips on Wednesday and Thursday. The market could continue going upwards but there is a possibility that the bears might come in and push the price downwards. The EUR could be seen weakening versus some majors this week.

USD/CHF: This pair dropped massively last week, reaching the support level at 0.9650 and forming a Bearish Confirmation Pattern in the market. This week would see the next direction in the market, which would most probably favor the bulls, for the EUR/USD (which is negatively correlated to the USD/CHF) might drop this week.

GBP/USD: Last week, the Cable dropped by 320 pips from Monday to Wednesday, and rose steeply by 450 pips on Wednesday and Thursday; only to consolidate on Friday. The price has been trying to go above the distribution territory at 1.4500, which has been refusing further northward movement. That distribution territory would be broken to the upside this week, as the price moves further north.

USD/JPY: This pair broke south on March 16, 2016. On Thursday, the price moved further southward; seriously this time around. Altogether, there was a drop of about 300 pips this week, and the demand level at 111.00 has been tested vigorously, though it seems impregnable to the bears now. There has been a slight upward bounce from that demand level, which would end up being a significant rally because the USD/JPY might gain lots of stamina this week.

EUR/JPY: This cross simply consolidated throughout last week, without trending upwards or downwards significantly. There are mixed signals in the market: the EMA 11 is above the EMA 56 whereas the RSI period 14 is below the level 50. It is better to stay away from the market until there is a clear directional movement, which would happen this week. When this happens, it would most probably favor the bulls, for the outlook on JPY pairs is bullish this week.

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286

The USD/JPY moved slightly upwards on Monday, reaching the supply level at 112.00. That movement was in the context of a downtrend; but the downtrend would be invalidated as soon as the price goes above the supply level at 113.50. A significant bullish journey is required for this condition to be fulfilled and that is the expectation for the week.

EUR/USD: The bullish outlook on this pair is still valid. The market could continue going upwards but there is a possibility that the bears might come in and push the price downwards. The EUR could be seen weakening versus some majors this week.

USD/CHF: There is a Bearish Confirmation Pattern on the USD/CHF. The EMA 11 is below the EMA 56 and the Williams’ % Range period 20 is in the oversold region. This week would see the next direction in the market, which would most probably favor the bulls, for the EUR/USD (which is negatively correlated to the USD/CHF) might drop this week.

GBP/USD: This currency trading instrument traded lower on Monday – in the context of an uptrend. The uptrend would not be rendered illogical as long as the price does not go below the accumulation territory at 1.4200. The price might rally from here, attaining the distribution territory at 1.4500, therefore strengthening the existing Bullish Confirmation Pattern in the chart.

USD/JPY: The USD/JPY moved slightly upwards on Monday, reaching the supply level at 112.00. That movement was in the context of a downtrend; but the downtrend would be invalidated as soon as the price goes above the supply level at 113.50. A significant bullish journey is required for this condition to be fulfilled and that is the expectation for the week.

EUR/JPY: Here, the market seems to be ready to go further upwards. EMA 11 is above the EMA 56 whereas the RSI period 14 is above the level 50. It is likely that the market would go above the supply zone at 126.00, starting a clear directional movement, which would happen this week. The movement would most probably favor the bulls, for the outlook on JPY pairs is bullish this week.

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287

The EUR/JPY moved sideways throughout last week, not going below the demand zone at 125.00, nor going above the supply zone at 126.50. A breakout is imminent this week, which would most probably favor the bulls, because the outlook on JPY pairs is bright for the week. When there is a rally, the supply levels at 126.50, 127.00 and 127.50 would be attained.

EUR/USD: This pair has been bearish so far since last week. A movement below the support line at 1.1050 would easily render the recent bullish outlook invalid. It is expected that the EUR/USD would trend further south this week, so are most other EUR pairs.

USD/CHF: What is happening on this currency trading instrument is best called a rally in the context of a downtrend. But the rally could continue this week, owing to the expected loss of stamina on the EUR/USD and the fact that CHF could become weak this week (please watch CHF pairs). A movement above the resistance level at 0.9850 would result in an undisputed bullish outlook.

GBP/USD: This currency trading instrument plunged by 400 pips last week, almost testing the accumulation territory at 1.4050. There is a Bearish Confirmation Pattern in the chart and the EMA 11 is below the EMA 56. The RSI period 14 is below the level 50. All this is a bearish indicator and the price would move further downwards this week, reaching the accumulation territories at 1.4050 and 1.4000. The outlook on GBP pairs is bleak for the week.

USD/JPY: The perpetual bullish effort on the USD/JPY has already resulted in a “buy” signal. The price action in the chart subtly reveals some bullish propensity, although the market currently looks choppy. It is expected that the price would target the supply levels at 113.00 and 113.50 this week. It might even go beyond these targets.

EUR/JPY: The EUR/JPY moved sideways throughout last week, not going below the demand zone at 125.00, nor going above the supply zone at 126.50. A breakout is imminent this week, which would most probably favor the bulls, because the outlook on JPY pairs is bright for the week. When there is a rally, the supply levels at 126.50, 127.00 and 127.50 would be attained.

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288

As it was expected, the EUR/JPY trended upwards on Monday (March 28, 2016). The price moved upwards by 80 pips, now above the demand zone at 127.00. The next target for the bulls are located at the supply zones at 127.50 and 128.00. However, this does not rule out any possibilities of pullbacks along the way.

EUR/USD: This pair moved sideways on Monday, just like its USD/CHF rival has done. A movement below the support line at 1.1050 would easily render the recent bullish outlook invalid. It is expected that the EUR/USD would trend further south this week, so are most other EUR pairs.

USD/CHF: This pair moved sideways yesterday and it has not assumed any directional movement this week. When a breakout does occur, it would take the price either above the resistance level at 0.9800 or below the supply level at 0.9700. A breakout above the resistance level at 0.9800 is most likely.

GBP/USD: The Cable moved upwards by over 150 pips on Monday – only to get corrected lower. Right now, there is a serious threat of invalidation to the current bearish outlook on the market. A further northward movement of 200 pips would result in a clean Bullish Confirmation Pattern in the chart; whereas a movement below the accumulation territory at 1.4150 would reinforce the recent bearish indication on the market.

USD/JPY: The perpetual bullish effort on the USD/JPY has already resulted in a “buy” signal, which remains valid. The EMA 11 is above the EMA 56; and the RSI period 14 is above the level 50. Based on an upbeat outlook on JPY pairs, the USD/JPY should be seen trading further upwards today and tomorrow.

EUR/JPY: As it was expected, the EUR/JPY trended upwards on Monday (March 28, 2016). The price moved upwards by 80 pips, now above the demand zone at 127.00. The next target for the bulls are located at the supply zones at 127.50 and 128.00. However, this does not rule out any possibilities of pullbacks along the way.

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289

The EUR/JPY went upwards last week, reaching the supply zone at 128.00. The bulls were unable to push price beyond that supply level and that caused a shallow correction we are currently looking at. There is a Bullish Confirmation Pattern in the market, and it is possible that another leg of bullish journey would begin, which would cause a break above that supply level at 128.00.

EUR/USD: This pair moved upwards by roughly 300 pips last week, but the bulls met a strong opposition around the resistance line at 1.1400. Owing to the bullish signal given by the indicators in the 4-hour chart, the bulls might be able to push the price beyond the resistance line, but a persistent northward journey should not be expected. There is a possibility of a large pullback this week.

USD/CHF: In an opposite direction to the EUR/USD, this pair went. There is a Bearish Confirmation Pattern in the chart: The EMA 11 is below the EMA 56, while the Williams’ % Range period 20 is in the oversold region. Further southward movement is possible, though there could also be a rally this week.

GBP/USD: From March 28 – 30, the Cable rose and tested the distribution territory at 1.4450. The bulls were unable to push the price beyond that territory and this resulted a bearish correction of 250 pips, as the price closed at 1.4228 last Friday. While further bearish correction is not ruled out, a rally is a great possibility, because the outlook on GBP is bright for the month of April 2016. This strength would be visible on most GBP pairs.

USD/JPY: This currency trading instrument went downwards last week, closing below the supply level at 112.00. The next targets are around the demand levels at 111.50 and 111.00, which would be attained this week. Only a situation in which the Yen is very weak can cause a rally here. After all, it is anticipated that JPY pairs would become weak around the end of April 2015.

EUR/JPY: The EUR/JPY went upwards last week, reaching the supply zone at 128.00. The bulls were unable to push price beyond that supply level and that caused a shallow correction we are currently looking at. There is a Bullish Confirmation Pattern in the market, and it is possible that another leg of bullish journey would begin, which would cause a break above that supply level at 128.00.

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290

There is a “sell” signal on the EUR/JPY and there is now a Bearish Confirmation Pattern in the 4-hour chart. This cross started a bearish correction on April 1, 2016 – something that has continued so far. The demand zone at 126.00 has been tested and it might be breached to the downside.

EUR/USD: Since the EUR/USD tested the resistance line at 1.1400, it has been difficult for the price to go above that line. The bulls have continued battering that line of defense (an action that started last week). Since the bullish outlook on the market is valid, there is a high probability that the resistance line would be breached to the upside today or tomorrow.

USD/CHF: This currency trading instrument did not make any serious movement on Monday. There is a Bearish Confirmation Pattern in the chart: The EMA 11 is below the EMA 56, while the Williams’ % Range period 20 is in the oversold region. Further southward movement is possible, though there could also be a rally this week.

GBP/USD: The situation surrounding the Cable is now tricky. The bulls and bears are struggling for domination. While further bearish correction is not ruled out, a rally is a great possibility, because the outlook on GBP is bright for the month of April 2016. This strength would be visible on most GBP pairs.

USD/JPY: Since last week Tuesday, this pair has been journeying downwards. The price has moved down by 260 pips, now below the supply level at 111.00. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. The next target for the bears are located around the demand levels at 110.50 and 110.00.

EUR/JPY: There is a “sell” signal on the EUR/JPY and there is now a Bearish Confirmation Pattern in the 4-hour chart. This cross started a bearish correction on April 1, 2016 – something that has continued so far. The demand zone at 126.00 has been tested and it might be breached to the downside.

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291

Since March 29, 2016, the USD/JPY has dropped by 600 pips. Last week, the drop was over 350 pips. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.

EUR/USD: This pair had a flat movement last week, for the price was unable to close above the resistance line at 1.1450 in spite of forays into it (the resistance line at 1.1400 was also subjected to desperate attacks from the bulls). This week, we would most possibly see the price go above the resistance line at 1.1450, targeting another resistance line at 1.1500.

USD/CHF: The USD/CHF consolidated throughout last week, not going below the support level at 0.9500. The support level should be broken to the downside, reaching another support level at 0.9000. A breakout would happen this week, which would most probably favor the bears.

GBP/USD: The Cable was highly volatile last week, reaching a high of 1.4319 and a low of 1.4004. The overall bias remains bearish in the near-term, though the bulls are not keeping their fingers crossed this time around. They would most probably effect a rally, which would jeopardize the current bearish bias, especially when the distribution territory at 1.4400 is overcome. This would require a strong rally, which would occur because the outlook on GBP pairs is bright for this week.

USD/JPY: Since March 29, 2016, the USD/JPY has dropped by 600 pips. Last week, the drop was over 350 pips. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.

EUR/JPY: Last week alone, this cross dropped by over 450 pips, almost testing the demand zone at 122.50. There is a very strong bearish outlook on the market (and of course, other JPY pairs). These bearish movements were anticipated for around the end of the month, but they have started earlier than imagined. Further bearish movement is expected on this cross, except the JPY is weakened considerably.

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292

The Cable traded higher on Monday, rising from the accumulation territory at 1.4100 and reaching the distribution territory at 1.4250. This is a movement of 150 pips, and as it was forecasted, the upward movement could continue this week (and it would be visible on other GBP pairs). A movement above the distribution territory at 1.4350 would mean the end of the currency bearish bias.

EUR/USD: There is still a sideways movement here. This pair also had a flat movement last week, for the price was unable to close above the resistance line at 1.1450 in spite of forays into it (the resistance line at 1.1400 was also subjected to desperate attacks from the bulls).

USD/CHF: The USD/CHF consolidated on Monday, not going below the support level at 0.9500. The support level should be broken to the downside, reaching another support level at 0.9000. A breakout would happen this week, which would most probably favor the bears. There is a Bearish Confirmation Pattern in the market.

GBP/USD: The Cable traded higher on Monday, rising from the accumulation territory at 1.4100 and reaching the distribution territory at 1.4250. This is a movement of 150 pips, and as it was forecasted, the upward movement could continue this week (and it would be visible on other GBP pairs). A movement above the distribution territory at 1.4350 would mean the end of the currency bearish bias.

USD/JPY: Here, the EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50.Further southward journey is possible. There is a strong Bearish Confirmation Pattern in the chart, which would hold out as long as the price continues to journey southwards. This week, bears would target the demand levels at 107.50, 107.00 and 106.50.

EUR/JPY: The bears are still willing to push the price further southward here. There is a very strong bearish outlook on the market (and of course, other JPY pairs). The bears should be able to target the demand zones at 122.50, 122.00 and 121.50 this week. Any rallies we see here might be an opportunity to sell short at better prices.

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293

The EUR/JPY went sideways throughout last week. The market has been caught in an equilibrium phase but, but there would be a breakout this week. The EUR/JPY cross, which closed below the supply zone at 123.00 on Friday, is expected to trend lower this week, reaching the demand zones at 122.00 and 121.50.

EUR/USD: The bias on this market is getting neutral owing to the consolidation that was witnessed in the last two weeks. Even last week, the price merely got corrected a bit lower. This week, the support lines at 1.1250 and 1.1200 should do a good job in preventing further southwards movement, as the bulls effect a nice rally, which would take the price towards the resistance lines at 1.1400 and 1.1450. Some EUR pairs could also rally this week.

USD/CHF: Although this pair trended upward last week in the context of a downtrend, there is not yet a Bullish Confirmation Pattern in the chart. In case the price moves further upwards by 150 pips, there would be a confirmed bullish signal in the market. Nonetheless, there is going to be a bearish journey this week, which would strengthen the recent bearish outlook and enable the price to reach the support levels at 0.9600, 0.9650 and 0.9500.

GBP/USD: The Cable was very volatile last week, with no clear victory between the bulls and the bears. There should be a directional movement this week, which would most probably favor the bulls. A wave of rally should carry the price to the distribution territories at 1.4300 and 1.4350 this week. Stamina should also be witnessed on other GBP pairs this week, like GBP/CAD.

USD/JPY: This currency trading instrument moved upwards by 190 pips between Monday and Thursday last week. On Friday, the price, however, got corrected lower in solidarity with the extent bearish bias in the market. Rallies should be seen as short-selling opportunities because the price is expected to trend lower this week.

EUR/JPY: The EUR/JPY went sideways throughout last week. The market has been caught in an equilibrium phase but, but there would be a breakout this week. The EUR/JPY cross, which closed below the supply zone at 123.00 on Friday, is expected to trend lower this week, reaching the demand zones at 122.00 and 121.50.

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294

The markets opened this week with minor gaps in some cases, which harbinger serious trending movements this week. The EUR/JPY gapped into the demand zone at 122.00, and later bounced upwards in the context of a downtrend. The price is supposed to continuing moving upwards, possibly invalidating the extent bearish bias before the end of the week.

EUR/USD: The markets opened this week with minor gaps in some cases, which harbinger serious trending movements this week. The EUR/USD did not move significantly on Monday but it would soon start moving in a trending mode. When the trending monde is assumed, it would most probably favor the bulls.

USD/CHF: This pair did not move seriously yesterday. Nonetheless, there is going to be a bearish journey this week, which would strengthen the recent bearish outlook and enable the price to reach the support levels at 0.9600, 0.9650 and 0.9500.

GBP/USD: The Cable moved upwards on April 18, 2016, closing above the accumulation territory at 1.4250. There is a “buy” signal in the market, at least in the short-term, owing to the fact that the EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. The next target for the bulls are the distribution territories at 1.4300 and 1.4350.

USD/JPY: This currency trading instrument gapped down at the beginning of this week and later bounced upwards in the context of a downtrend. There is a Bearish Confirmation Pattern in the chart, which might not be jeopardized unless the price goes above the supply zones at 109.50 and 110.00.

EUR/JPY: The EUR/JPY gapped into the demand zone at 122.00, and later bounced upwards in the context of a downtrend. The price is supposed to continuing moving upwards, possibly invalidating the extent bearish bias before the end of the week.

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295

As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY, etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150, and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GPB pairs.

EUR/USD: The bulls tried seriously to push this pair upwards, but following the volatility we witnessed here last week Thursday, the price came down on Friday. This has resulted in a “sell” signal in the market – further bearish movement is possible this week. But this does not rule out the possibility of an upward bounce, which might not threaten the current “sell” signal unless the resistance level at 1.1450 is overcome buy the bulls.

USD/CHF: The bears threatened to push the USD/CHF lower, but their effort was thwarted on Wednesday as the price started moving upwards. This has resulted in a Bullish Confirmation Pattern in the market. The price, which closed above the support level at 0.9750, would reach the resistance levels at 0.9800 and 0.9850 this week. The only hindrance to this bullish bias would be an expected rally on the CHF, which might affect CHF pairs.

GBP/USD: As it was forecasted at the beginning of last week, GBP was able to rally against some majors, as witnessed on GBP/CHF, GBP/NZD, EUR/GBP, GBP/JPY, etc. GBP/USD was also able to rally last week, starting from the accumulation territory at 1.4150, and reaching the distribution territory at 1.4450. This is a movement of 300 pips, and further bullish journey is possible this week. It is also possible on GPB pairs.

USD/JPY: Following the minor gap down into the demand level at 108.00 at the beginning of last week, this currency trading instrument started a bullish journey, which occurred gradually and gained momentum on Friday, April 22, 2016. The price closed above the demand level at 111.50; poised for further northward movement, which would be at least, 150 pips this week. As an aside, JPY pairs might also be weakened before the end of the month. Please watch JPY pairs.

EUR/JPY: There is now a Bullish Confirmation Pattern on the EUR/JPY. The price moved upwards by 360 pips last week, and it could move further upwards this week. Short trades are no longer advisable here until there is an indication of bears’ hegemony, which is possible before the end of April 2016.

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296

The GBP/USD was able to move upwards on Monday, following the rally that started last week. The price has now moved towards the distribution territory at 1.4500, trying to break it to the upside. The distribution territory could be broken to the upside today, owing to a Bullish Confirmation Pattern in the chart, targeting another distribution territory at 1.4550.

EUR/USD: On April 25, 2016, this pair bounced upwards in the context of a downtrend. The downtrend is still a valid thing, therefore the upwards bounce could be seen as a short-selling opportunity, provided the price does not go above the resistance line at 1.1400. The bears might target the support line at 1.1200 and 1.1150 this week.

USD/CHF: The market came down slightly yesterday in the context of an uptrend. The uptrend is supposed to continue today or tomorrow, turning the current price action into a buying opportunity. As it was said earlier this week though, there is a possible obstacle in the way of this uptrend, and that is the expected stamina in the CHF, which would also be visible on other CHF pairs.

GBP/USD: The GBP/USD was able to move upwards on Monday, following the rally that started last week. The price has now moved towards the distribution territory at 1.4500, trying to break it to the upside. The distribution territory could be broken to the upside today, owing to a Bullish Confirmation Pattern in the chart, targeting another distribution territory at 1.4550.

USD/JPY: Yesterday, this currency trading instrument dipped slightly in the context of an uptrend. The uptrend is still a valid thing, therefore the upwards dip could be seen as a buying opportunity, provided the price does not go below the demand level at 109.00. The bulls might target the supply levels at 112.00 and 112.50 this week. However, it should be borne in mind that JPY could gain stamina before the end of this month, which would cause other JPY pairs to trend downwards.

EUR/JPY: This is a bull market in the near-term. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. It is possible that the price goes further upwards from here, reaching the supply zone at 126.00; the only obstacle in the way being the expected stamina in the JPY.

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297

The EUR/USD went upwards by 230 pips last week. The movement was a week long and that has resulted in a bullish bias in the market. The resistance line at 1.1450 has already been tested and the price is expected to go above it this week, testing another resistance lines at 1.1500 and 1.1550.

EUR/USD: The EUR/USD went upwards by 230 pips last week. The movement was a week long and that has resulted in a bullish bias in the market. The resistance line at 1.1450 has already been tested and the price is expected to go above it this week, testing another resistance lines at 1.1500 and 1.1550.

USD/CHF: This pair also went down throughout last week, owing to the stamina in the EUR/USD and the CHF. The price closed below the resistance level at 0.9600 on Friday, April 29, 2016. The price had already fallen by 220 pips – leading to a Bearish Confirmation Pattern in the market. Further bearish movement is expected this week.

GBP/USD: The Cable went upwards gradually last week, sustaining the bullish trend which started two weeks ago. The bulls fought a decisive battle at the distribution territory of1.4600 (which is now an accumulation territory). They are now fighting another desperate battle at the distribution territory of 1.4650, which would be overcome because the outlook on the Cable is bright for the month of May (it is also bright for crosses like GBP/AUD, and GBP/NZD).

USD/JPY: This pair moved sideways between Monday and Wednesday and dropped like a stone on Thursday. That drop was strong enough to bring about a new Bearish Confirmation Pattern in the 4-hour chart. The EMA 11 has gone below the EMA 56, while the RSI period 14 is below the level 50. The price is expected to go further south, reaching the demand levels at 106.00 and 105.50. This bearishness would also be visible on other JPY pairs this month.

EUR/JPY: The EUR/JPY went upwards from Monday to Wednesday last week, but broke down as a result of the fundamental figures released on Thursday, April 28, 2016. The price skydived by 450 pips, almost testing the demand zone at 121.50. This large pullback has resulted in a bearish signal in the market, for the price is supposed to go further south this week. Other JPY pairs are also bearish and as a result of this, long trades are not currently logical on JPY pairs until there are clear reversals on them. However, there could be a rally on JPY pairs at the end of May 2016.

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298

The USD/CHF went downwards on Monday, in solidarity with the bearish signal that started last week. As it was forecasted, the price has gone below the resistance level at 0.9600, targeting the support level at 0.9500; which would be broken to the downside very soon. The bias on the market is bearish.

EUR/USD: The EUR/USD went upwards on Monday, in solidarity with the bullish signal that started last week. As it was forecasted, the price has gone above the support line at 1.1500, targeting the resistance line at 1.1550; which would be broken to the upside very soon. The bias on the market is bullish.

USD/CHF: The USD/CHF went downwards on Monday, in solidarity with the bearish signal that started last week. As it was forecasted, the price has gone below the resistance level at 0.9600, targeting the support level at 0.9500; which would be broken to the downside very soon. The bias on the market is bearish.

GBP/USD: The GBP/USD has gone above the accumulation territory at 1.4650, targeting the distribution territory at 1.4700. There is a Bullish Confirmation Pattern in the market, and further bullish movement is possible. This week, the distribution territories at 1.4750 and 1.4800 would be overcome.

USD/JPY: This pair moved sideways yesterday, in the context of a downtrend. The EMA 11 has gone below the EMA 56, while the RSI period 14 is below the level 50. The price is expected to go further south, reaching the demand levels at 106.00 and 105.50. This bearishness would also be visible on other JPY pairs this month.

EUR/JPY: At the beginning of this week, this cross bounced slightly upwards in a context of a downtrend. The upwards bounce pales into insignificance when compared to the recent bearish outlook on the market. Further bearish movement is possible, and the “sell” signal cannot be jeopardized unless the price goes upwards by 300 pips (which seems unlikely right now).

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299

The USD/CHF went down on Monday and Tuesday, dipping into the support level at 0.9450. From that support level, further downward movement was rejected as the price started a smooth rally, which took it above the support level at 0.9700. This has resulted in a bullish signal: the price is expected to rally further this week. The outlook on the USD is now bright.

EUR/USD: This pair moved upwards on Monday and Tuesday, tested the resistance line at 1.1600, and then started a bearish movement. From the resistance line at 1.1600, the price dipped by 200 pips, to close at 1.1403 on Friday (May 6, 2016). Bears would target the support lines at 1.1350 and 1.1300 this week, because some weakness is expected in the EUR.

USD/CHF: The USD/CHF went down on Monday and Tuesday, dipping into the support level at 0.9450. From that support level, further downward movement was rejected as the price started a smooth rally, which took it above the support level at 0.9700. This has resulted in a bullish signal: the price is expected to rally further this week. The outlook on the USD is now bright.

GBP/USD: After testing the distribution territory at 1.4750, the GBP/USD dropped down by 320 pips, closing below the distribution territory at 1.4450. This kind of southward reversal has already resulted in a bearish outlook on the market. The GBP should be seen strengthening versus some currencies, though it might be facing some difficulties as regards a rally against the USD, because the USD would be strong this week.

USD/JPY: The USD/JPY only moved sideways last week, in the context of a downtrend. The bearish bias on the market is still valid, and further downwards movement is possible. The only exception being that, a possible rally in the USD might make it somewhat challenging for the bears to push the price further downwards this week.

EUR/JPY: This currency trading instrument also consolidated throughout last week, with very short-term upwards and downward swings in the market. The bears are still willing to push the price lower; since the outlook on JPY pairs is bearish right now. It is possible that the price would test the demand zones at 121.50, 121.00, and 120.50 this week.

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300

The GBP/USD continued its consolidation to the downside on Monday, leading to a bearish signal in the market. There is now a Bearish Confirmation Pattern in the market and it is possible that the price would continue going south, owing to expected strength in the USD. However, there are exception to the rules: the GBP would continue strengthening against other currencies.

EUR/USD: The perpetual bearish movement here – though slow and steady – has resulted in a “sell” signal in the market. The price is under the resistance line at 1.1400 and it would go further south from there, targeting the support lines at 1.1300 and 1.1250 within today or tomorrow.

USD/CHF: There is a clean bullish bias on the USD/CHF: the price is above the support level at 0.9700, going further towards the resistance levels at 0.9800 and 0.9850. There might be occasional dips along the way, but the bulls are supposed to be the winners this week. The outlook on the USD is now bright.

GBP/USD: The GBP/USD continued its consolidation to the downside on Monday, leading to a bearish signal in the market. There is now a Bearish Confirmation Pattern in the market and it is possible that the price would continue going south, owing to expected strength in the USD. However, there are exception to the rules: the GBP would continue strengthening against other currencies.

USD/JPY: On this currency trading instrument, there was a serious rally yesterday, which took the price upwards from demand level at 106.50, to the supply level at 108.50. That was a movement of 200 pips, and the EMA 11 is almost crossing the EMA 56 to the upside on the 4-hour chart (as the RSI period 14 is clearly above the level 50). The bias on the market has turned bullish.

EUR/JPY: This cross also went upwards on May 9, 2016; just like the USD/JPY has done. The price is now above the EMA 56 (effectively above the demand zone at 123.00). Further movement of about 150 pips would result in a “buy” signal in the market.

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The EURUSD went downwards last week – a movement that has generated a bearish signal in the 4-hour chart. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.

EUR/USD: The EURUSD went downwards last week – a movement that has generated a bearish signal in the 4-hour chart. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.

USD/CHF: The near-term bias on this pair is bullish, since it went in the opposite direction to the EUR/USD. This week, further movement to the upside is anticipated because the outlook on USD is bright for the week. Therefore, we could see pairs like the AUD/USD, the NZD/USD, etc. getting affected (of course, the USD/CHF would go up).

GBP/USD: The Cable simply moved sideways most of last week, save the slight dip that was witnessed on Friday. A closer look at the market reveals that the bears have some form of dominance over the bulls. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. In the face of the expected stamina in the USD, the Cable might test the accumulation territories at 1.4300, 1.4250, and 1.4200 this week.

USD/JPY: The bias on the USD/JPY is bullish, though this is something precarious. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the hand, a movement below the demand level at 107.50 would mean a new lease of bearish outlook. This week would determine what would happen next.

EUR/JPY: Here, the bullish gains that were realized in the first few days of last week were forfeited in the last few days of the same week. There is currently no dominant bias on the market and the indicators are even giving mixed signals. It is better to wait for a directional movement before taking a position. Conditions surrounding the Yen would dictate the event on this cross this week (as well as on other JPY pairs).

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The bias on the USD/JPY, which simply went flat on Monday, is bullish, though this is something precarious. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the hand, a movement below the demand level at 107.50 would mean a new lease of bearish outlook.

EUR/USD: This pair went slightly upwards on Monday – an insignificant thing in the context of a downtrend. As it was mentioned last week, the outlook on this pair is bearish and further southward movement is expected this week, which could make the price go towards the support lines at 1.1250 and 1.1200.

USD/CHF: The market slightly went upwards yesterday, going above the support level at 0.9750, and targeting the resistance level at 0.9800. The bulls are still determined to push the price higher, and since there is a Bullish Confirmation Pattern in the chart, it is logical to expect further rally.

GBP/USD: This is a flat market, but there is a possibility that the price could go further downwards, at closer look. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. The market should move further southwards, testing the accumulation territories at 1.4350 and 1.4300.

USD/JPY: The bias on the USD/JPY, which simply went flat on Monday, is bullish, though this is something precarious. Unless, the price goes above the supply level at 110.00, the bullish bias would remain weak. On the hand, a movement below the demand level at 107.50 would mean a new lease of bearish outlook. Today or tomorrow would determine what the market will do.

EUR/JPY: The bulls made a faint attempt to go upwards on May 16; and this has caused mixed signals in the 4-hour chart. It is better to stay away from the market until there is a strong movement in one direction. This week, a strong movement in one direction is expected any moment.

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As it was forecasted, the USD/CHF was able to move upwards by 160 pips last week, closing above the support level at 0.9900. The next target should be the resistance level at 1.0000, which means a parity area for USD versus CHF. However, there is one challenge the bulls might face this week, and that is the anticipated rally in CHF, which would make it difficult for the bulls to push price far higher.

EUR/USD: In the opposite direction to the USD/CHF, the EUR/USD moved last week. The price closed below the resistance line at 1.1250, as it threatens to test the support line at 1.1200. This support line, including another support line at 1.1150, might be tested this week. Nevertheless, it is possible that the EUR would rally this week – an event that could thwart the extant bullishness in the market.

USD/CHF: As it was forecasted, the USD/CHF was able to move upwards by 160 pips last week, closing above the support level at 0.9900. The next target should be the resistance level at 1.0000, which means a parity area for USD versus CHF. However, there is one challenge the bulls might face this week, and that is the anticipated rally in CHF, which would make it difficult for the bulls to push price far higher.

GBP/USD: This pair moved upwards by 300 pips last week, and later dropped by 140 pips, to close at 1.4506. There would have been a Bullish Confirmation Pattern in the 4-hour chart, but the bearish correction is conspicuous enough to force the market back into a neutral zone. Nevertheless, the most probably direction this week is northwards.

USD/JPY: This market is bullish – having moved upwards by 170 pips last week. The EMA 11 is above the EMA 56, while the RSI period 14 is above the level 50. Further upwards movement is anticipated. The price is now above the demand level at 110.00, and the next target is the supply level at 111.00. Certain other JPY pairs could also go bullish this week.

EUR/JPY: The EUR/JPY has moved sideways throughout last week, with price not going above the supply zone at 124.50 or going below the demand zone 122.50. A breakout would happen this week, which would take the market out of the equilibrium zones. The higher probability is a breakout in favor of the bulls.

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The EUR/JPY moved lower on Monday, out of the current equilibrium phase in the market. For this not appear like a false breakout, the price would need to go below the demand zone at 122.50. Otherwise, any rally from the current price location in the 4-hour chart would force the market back into the equilibrium phase.

EUR/USD: On the EUR/USD, The support line at 1.1200, including another support line at 1.1150, might be breached this week. Nevertheless, it is possible that the EUR would rally – an event that could thwart the extant bullishness in the market.

USD/CHF: The USD/CHF is still in a bullish mode, though the price simply went flat on Monday. The next target should be the resistance level at 1.0000, which means a parity area for USD versus CHF. However, there is one challenge the bulls might face this week, and that is the anticipated rally in CHF, which would make it difficult for the bulls to push price far higher.

GBP/USD: The Cable did not make any significant movement on May 23, 2016, and the market remains in a neutral territory. There is a certain degree of ambiguity surrounding the Cable right now. Further southwards movement of 150 pips would result in a bearish signal. Further bullish movement of 150 pips would result in a bullish signal.

USD/JPY: Yesterday, this market got corrected by 120 pips. There are mixed signals in the chart: The EMA 11 is still above the EMA 56, while the RSI period 14 is below the level 50. It is better to stay out of the market until there would be a confirmed bias. A movement below the demand level at 108.50 would result in a bearish signal; whereas a movement above the supply level at 111.00 would reinforce the recent bullish outlook.

EUR/JPY: The EUR/JPY moved lower on Monday, out of the current equilibrium phase in the market. For this not appear like a false breakout, the price would need to go below the demand zone at 122.50. Otherwise, any rally from the current price location in the 4-hour chart would force the market back into the equilibrium phase.

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