Instaforex Trading Forecasts

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305

The USD/CHF managed to go upwards a little on Friday, having consolidated in the first few days of the week. The bulls are still willing to push price northward, and there is a possibility that the resistance levels at 0.9950 and 1.0000 (a parity zone) would be tested. However, it is unlikely that the resistance level at 1.0000 would be broken to the upside, since there is also a threat from CHF, which might gain some stamina before the end of the week.

EUR/USD: As it was projected, the EUR/USD went south by roughly 110 pips last week, closing at 1.1114 on Friday, May 27, 2016. There is a strong Bearish Confirmation Pattern in the market: It is expected that the market would continue to trend lower as long as the USD is stronger than the EUR. Any signs of vulnerability in the USD would cause this pair to skyrocket.

USD/CHF: The USD/CHF managed to go upwards a little on Friday, having consolidated in the first few days of the week. The bulls are still willing to push price northward, and there is a possibility that the resistance levels at 0.9950 and 1.0000 (a parity zone) would be tested. However, it is unlikely that the resistance level at 1.0000 would be broken to the upside, since there is also a threat from CHF, which might gain some stamina before the end of the week.

GBP/USD: This pair went upwards by 200 pips last week; but further bullish movement was rejected as at the distribution territory at 1.4700, which effected an 80-pip correction. That correction has not put the bullish bias on the market in a precarious position, unless price goes below the accumulation territory at 1.4450 (which requires a great deal of selling pressure. The most likely direction this week is northward.

USD/JPY: The bias on this market has turned neutral, though a closer look at the price reveals that the bulls are still willing to push the price higher, if they would be freed from the bears’ clutches. There are currently mixed signals in the market, and swing traders might want to stay off until there is a directional movement. A breakout is imminent this week. The more the consolidation phase hold outs, the closer the expected breakout occurrence, plus the more predictable the breakout would be when it does occur.

EUR/JPY: The EUR/JPY cross has moved sideways so far this week, and thus, hope of a serious breakout today is very weak. However, there may be a strong breakout this week which would push the price below the demand zone at 122.00 or above the supply zone at 124.00.

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306

As it was said earlier, the bulls were willing to push USD/JPY further upwards, and that was what they did on Monday. The price moved upwards by 120 pips, now above the demand level at 111.00. The next targets are the supply levels at 111.50 and 112.00. Since there is a bullish signal in the market, those supply levels would be tested today or tomorrow.

EUR/USD: There is still a Bearish Confirmation Pattern in the 4-hour chart; and in spite of the shallow bullish attempt that occurred yesterday, in the context of a downtrend. The price might test the support lines at 1.1100; or even go below that. This expectation is logical, unless the USD shows any signs of vulnerability.

USD/CHF: The USD/CHF consolidated on May 30, 2016. The bulls are still willing to push price northward, and there is a possibility that the resistance levels at 0.9950 and 1.0000 (a parity zone) would be tested. However, it is unlikely that the resistance level at 1.0000 would be broken to the upside, since there is also a threat from CHF, which might gain some stamina before the end of the week.

GBP/USD: This currency trading instrument went upwards last week, and later got corrected. That correction has not put the bullish bias on the market in a precarious position, unless price goes below the accumulation territory at 1.4450 (which requires a great deal of selling pressure. The most likely direction this week is northward.

USD/JPY: As it was said earlier, the bulls were willing to push USD/JPY further upwards, and that was what they did on Monday. The price moved upwards by 120 pips, now above the demand level at 111.00. The next targets are the supply levels at 111.50 and 112.00. Since there is a bullish signal in the market, those supply levels would be tested today or tomorrow.

EUR/JPY: There is a Bullish Confirmation Pattern in the EUR/JPY 4-hour chart. The EMA 11 has crossed the EMA 56 to the upside, while the RSI period 14 is above the level 50. The current bullish breakout is yet nothing significant: It would be significant only after the price goes above the supply level at 124.50.

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307

The USD/JPY dropped 450 pips last week, testing the demand level at 106.50. The next target to be reached is the demand level at 105.50, since there is a Bearish Confirmation Pattern in the market. There is also a possibility of bullish reversal this week.

EUR/USD: This pair shot upwards on Friday, overturning the bearish outlook on the market. Since price has moved upwards by 220 pips, a bullish signal has been formed. However, EUR needs to continue to be stronger than USD for this pair to continue moving upwards; otherwise things could reverse on favor of bears. After all, the outlook on EUR is bearish for the month of June.

USD/CHF: The USD/CHF consolidated from Monday to Friday and then plummeted on Friday. The bearish movement was very serious – occurring opposite to the direction of the EUR/USD. Further bearish movement could cause price to reach the support levels at 0.9700 and 0.9650 this week.

GBP/USD: Cable went up towards the distribution territory at 1.4700, where further rally was halted as price declined towards the accumulation territory at 1.4400. That was a 300-pip movement. Despite determined efforts from bears, price was unable to go below the accumulation territory at 1.4400, and as such, there is a rally expectation on the GBP/USD. GBP pairs would move seriously this month – in bearish and bullish modes.

USD/JPY: The USD/JPY dropped 450 pips last week, testing the demand level at 106.50. The next target to be reached is the demand level at 105.50, since there is a Bearish Confirmation Pattern in the market. There is also a possibility of bullish reversal this week.

EUR/JPY: This cross tested the supply zone at 124.00, and then dropped by 300 pips last week. Price closed at 121.07 on Friday, just below the supply zone at 121.50. Further decline is possible, which might take price towards demand zones at 120.50 and 120.00. There is also a possibility of reversal this week.

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308

The USD/CHF traded lower on Monday, going below the resistance level at 0.9750. Price is now close to the support level at 0.9700, which would be broken to the downside as price goes further downwards to another support level at 0.9650.

EUR/USD: This pair simply went flat on June 6, but a closer look at the market reveals that bulls are still willing to push the market further upwards. Since there is a Bullish Confirmation Pattern in the market, the resistance lines at 1.1400, 1.1450 and 1.1500 would be tested as price goes further upwards.

USD/CHF: The USD/CHF traded lower on Monday, going below the resistance level at 0.9750. Price is now close to the support level at 0.9700, which would be broken to the downside as price goes further downwards to another support level at 0.9650.

GBP/USD: This currency trading instrument is quite choppy right now, though in the context of a downtrend. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. These are mixed signals, but it also means that when price becomes predictable and directional again, it might be in favor of the bears.

USD/JPY: The USD/JPY rallied by 100 pips on Monday – in the context of a downtrend. Further rally is possible, though there would be some opposition from bears. The bearish outlook on the market would be valid as long as price does not go above the supply level 109.50 (a situation that would require a strong buying pressure).

EUR/JPY: There was a rally yesterday, which moved the EUR/JPY cross above the demand zone at 122.00. Since the RSI period 14 is above the level 50, it is easy for the bias to turn bullish once price goes above the supply zone at 123.50. However, bulls would meet a serious opposition on the way upwards; and in case they are not determined enough, they would be overpowered as price declines further from there.

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309

The EUR/USD has become neutral in the short-term. May 2016 was mostly bearish, and the bullish breakout that was witnessed on June 3 overturned that bearish bias. However, bulls were unable to push the price further north last week, for the bullish movement was halted at the resistance line of 1.1400, which was followed by a 150-pip bearish correction. For the bias to turn completely bearish, the price must go below the support line at 1.1150. Otherwise we shall witness a rally that could restore the recent bullish outlook.

EUR/USD: The EUR/USD has become neutral in the short-term. May 2016 was mostly bearish, and the bullish breakout that was witnessed on June 3 overturned that bearish bias. However, bulls were unable to push the price further north last week, for the bullish movement was halted at the resistance line of 1.1400, which was followed by a 150-pip bearish correction. For the bias to turn completely bearish, the price must go below the support line at 1.1150. Otherwise we shall witness a rally that could restore the recent bullish outlook.

USD/CHF: The USD/CHF is in a bearish mode. The price dropped by 180 pips last week, going briefly below the support level at 0.9600, before closing above it. There is a Bearish Confirmation Pattern in the chart, and the price is expected to continue moving lower and lower, reaching the support levels at 0.9600, 0.9550 and 0.9500.

GBP/USD: From Monday to Tuesday, The Cable went upwards by 250 pips, testing the distribution territory at 1.4700, before nose-diving by 400 pips in the last 3 trading days of the week. It was mentioned that serious volatility would be witnessed on GBP pairs this month – the catalyst being Brexit/Bremain issues. There would be great trading opportunities here.

USD/JPY: This pair simply went flat last week. The bullish effort that was made on Monday was not significant enough to cause any threat to the bears. The outlook on JPY pair is bearish for this week: and the USD/JPY is no exception. Therefore, the bears might target the demand levels at 106.00 and 105.50.

EUR/JPY: The bullish effort that was seen on June 6 and 7 was merely an opportunity to go long in the context of a downtrend. The price started coming down after that, testing the demand zone at 120.00. The demand zone could be retested again – it could even be broken to the downside.

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310

The GBP/USD spiked upwards on Monday, and so did other GBP pairs, doing that in the context of a downtrend. Volatility has started in the market since last week, and it would last till the end of this month. It is expected that the GBP/USD would continue moving downwards, reaching the accumulation territory at 1.4100 and 1.4000.

EUR/USD: This pair did nothing significant yesterday; though the outlook on the market has not turned completely bearish. Today or tomorrow would determine what would happen in the market. A movement below the support line at 1.1150 would result in a bearish bias, while a movement above the resistance line at 1.1350 would enforce the recent bullish bias.

USD/CHF: The USD/CHF is in a bearish mode, since there is a Bearish Confirmation Pattern in the chart, and the price is expected to continue moving lower and lower, reaching the support levels at 0.9600, 0.9550 and 0.9500. As long as price does not go above the resistance level at 0.9800, there cannot be a threat to the bearish outlook.

GBP/USD: The GBP/USD spiked upwards on Monday, and so did other GBP pairs, doing that in the context of a downtrend. Volatility has started in the market since last week, and it would last till the end of this month. It is expected that the GBP/USD would continue moving downwards, reaching the accumulation territory at 1.4100 and 1.4000.

USD/JPY: This pair moved slightly south on June 13. The bullish effort was not significant enough to cause any threat to the bears. The outlook on JPY pair is bearish for this week: and the USD/JPY is no exception. Therefore, the bears might target the demand levels at 106.00 and 105.50.

EUR/JPY: This cross was simply volatile yesterday – with no directional movement. It is expected that price would continue moving downwards, in solidarity with the bearish expectation on the JPY pairs. The cross could thus test the demand zones at 119.00 and 118.00 today or tomorrow.

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311

As it was anticipated, the EUR/JPY dropped 460 pips last week, reaching a low of 115.49, and a high of 120.31. The upward attempt that was later seen last week could proffer an opportunity to sell short at better prices, because the market might test the demand zones at 117.00, 116.00 and 115.00. The demand zones at 117.00 and 116.00 were tested last week, and they could be retested this week.

EUR/USD: This pair is now volatile, but with choppy price movements. Bulls made some noticeable attempt to push price forward last week; nevertheless price would not become really bullish unless it goes above the resistance line at 1.4000, which would require a serious buying pressure. Really, the bias on the pair is bearish for this week – further southward movement could be seen.

USD/CHF: USD/CHF moved essentially sideways last week, in the context of a downtrend. There is a Bearish Confirmation Pattern in the market, and unless there is a serious weakness in the EUR/USD, (which could help the USD/CHF effect a meaningful rally), further bearish movement would be witnessed, when momentum returns to the market.

GBP/USD: This pair is bearish in mode, though price made an attempt to go upwards by 300 pips on Thursday and Friday. There is a need for price to go upwards by another 300 pips before its mode can turn bullish. Throughout Thursday, June 23, GBP/USD (and most other GBP pairs) will go in one direction with little or no reversal, but there would be nothing graver than normal. The outlook on the pair is bearish and further southward movement could possibly be witnessed this week.

USD/JPY: This currency trading instrument declined 300 pips last week, and later moved sideways in the last two days of the week. There is going to be a breakout this week, which would most probably favor bears, since the outlook on JPY pairs remains bearish. The demand levels at 104.00 and 103.00 would be reached.

EUR/JPY: As it was anticipated, the EUR/JPY dropped 460 pips last week, reaching a low of 115.49, and a high of 120.31. The upward attempt that was later seen last week could proffer an opportunity to sell short at better prices, because the market might test the demand zones at 117.00, 116.00 and 115.00. The demand zones at 117.00 and 116.00 were tested last week, and they could be retested this week.

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312

The GBP/USD, as well as some GBP pairs opened with gaps this week. This shows that there would be strong movements this week. Price went upwards by 250 pips on Monday, and the price action reveals that bulls are still willing to push the market further north. A bullish signal has already formed in the market.

EUR/USD: The pair also experienced a minor gap upwards; after which price got corrected. The outlook on the market remains neutral, until the resistance line at 1.1400 is breached to the upside, or the support line at 1.1150 is breached to the downside. Until this happens, the bias would remain neutral.

USD/CHF: This market is still in a sideways mode. The bias has become neutral in the short-term and bearish in the medium-term. There is a Bearish Confirmation Pattern in the 4-hour chart, and it is supposed that price would continue its southward journey when a breakout occurs in the market. However, a serious bearish movement on the EUR/USD could cause the USD/CHF to rally.

GBP/USD: The GBP/USD, as well as some GBP pairs opened with gaps this week. This shows that there would be strong movements this week. Price went upwards by 250 pips on Monday, and the price action reveals that bulls are still willing to push the market further north. A bullish signal has already formed in the market.

USD/JPY: This currency trading instrument merely moved sideways on Monday. There is going to be a breakout this week, which would most probably favor bears, since the outlook on JPY pairs remains bearish. The demand levels at 103.50 and 103.00 would be reached.

EUR/JPY: There was a minor gap-up on this cross as well (at the open of the market). The upward attempt that was later seen last week could proffer an opportunity to sell short at better prices, because the market might test the demand zones at 117.00, 116.00 and 115.00. The demand zones at 117.00 and 116.00 were tested last week, and they could be retested this week.

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313

On Friday, June 24, 2016, the EU/JPY experienced its strongest bearish movement this year. Price dropped by 1200 pips, reaching the low of 109.57. Price later performed a 450-pip bullish correction, later closing at 113.48 that Friday. The outlook on JPY pairs is bearish, and further movement to the south is expected this week, which would be at least. 300 pips on EUR/JPY.

EUR/USD: Last Friday, this pair underwent its largest single-day pull-down this year, and this has resulted in a Bearish Confirmation Pattern in the chart. Since the outlook on the EUR/USD is bearish this week, further downward movement could be seen, which means the support lines at 1.1050 and 1.0000 would be reached this week. Those support lines were tested last week.

USD/CHF: As it was forecast last Friday, this market, which was previously flat as a result of inertia, was forced upwards by a strong bearish pressure on the EURUSD. Price went upwards by 250 pips, before getting corrected by 100 pips. The movement on this market this week would be largely determined by whatever happens to the EUR/USD. A continuous southward journey on the EUR/USD could result in a sustained rally on the USD/CHF.

GBP/USD: On Friday, June 24, 2016, the GBP/USD experienced its strongest bearish movement in recent years. Price dropped by 1700 pips, reaching the low of 1.3230. Price later performed a 500-pip bullish correction, later closing at 1.3682 that Friday. The outlook on GBP pairs is bearish, and further movement to the south is expected this week, which would be at least. 400 pips on GBP/USD.

USD/JPY: Britain’s decision to leave the EU had bearish effects on JPY pairs, and that was exactly what brought about a bearish momentum on USDJPY, which was consolidating in the context of a downtrend prior to that time. What happened to this market on Friday simply brought more emphasis on the long-term bearish trend, which is also visible on the daily and weekly charts. The 700-pip decline that was witnessed on Friday would bring about a rally within the next several trading days, because important demand zones had been challenged.

EUR/JPY: On Friday, June 24, 2016, the EU/JPY experienced its strongest bearish movement this year. Price dropped by 1200 pips, reaching the low of 109.57. Price later performed a 450-pip bullish correction, later closing at 113.48 that Friday. The outlook on JPY pairs is bearish, and further movement to the south is expected this week, which would be at least. 300 pips on EUR/JPY.

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314

The USD/CHF made a faint bullish effort last week, testing the resistance line at 0.9800, after which price bent downwards in a slight bearish correction. There is a precarious bullish signal in the 4-hour chart, but price needs to go further upwards so that the bullish signal can continue to be valid. A continuous bearish correction could cancel the bullish signal.

EUR/USD: This pair went upwards by 150 pips last week, in a context of a downtrend. A movement of another 200 pips to the upside would result in a Bullish Confirmation Pattern. However, since the outlook on this pair is bearish for this week, price could experience another smooth bearish journey, which could turn out to be favorable to bears.

USD/CHF: The USD/CHF made a faint bullish effort last week, testing the resistance line at 0.9800, after which price bent downwards in a slight bearish correction. There is a precarious bullish signal in the 4-hour chart, but price needs to go further upwards so that the bullish signal can continue to be valid. A continuous bearish correction could cancel the bullish signal. Another obstacle ahead of bulls is the possibility that CHF could gain strength in the month of July, which would also cause visible effects on CHF pairs.

GBP/USD: This currency trading instrument did not effect any bullish or bearish domination last week, though everything remains in the context of a downtrend. Bears might continue proving their stamina, because the outlook on the market (and other GBP pairs), is bearish for this week. The accumulation territories at 1.3100 and 1.3050 are vulnerable.

USD/JPY: The USD/JPY only moved sideways last week, and the chances of a rising momentum are slim this week. The outlook on the market, as well as other JPY pairs, is bearish for this week and this month. Bears could thus target the demand levels at 102.00 and 101.50 this week.

EUR/JPY: This cross went upwards by 250 pips last week, but the bearish bias on the market remains valid. A northward movement of 300 pip would result in a Bullish Confirmation Pattern, while a southward movement would simply emphasize the extant bearish bias.

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315

This cross went upwards by 250 pips last week, but the bearish bias on the market remains valid. While price simply went flat on Monday, a northward movement of 300 pip would result in a Bullish Confirmation Pattern, while a southward movement would simply emphasize the extant bearish bias.

EUR/USD: This currency trading instrument has not assumed any directional bias this week (though that is very much likely to start this week or next week). The Bearish Confirmation Pattern in the market could be rendered useless once the price goes above the resistance line at 1.1300. Otherwise, the extant bearish outlook would be underlined again.

USD/CHF: Bears effected a faint bearish movement on this pair yesterday, and further bearish movement would result in a bearish signal in the market. Any show of strength in the EUR/USD would immediately result on more weakness on the USD/CHF. Another obstacle ahead of bulls is the possibility that CHF could gain strength in the month of July, which would also cause visible effects on CHF pairs.

GBP/USD: There is nothing significant here right now. This currency trading instrument did not effect any bullish or bearish domination last week, though everything remains in the context of a downtrend. Bears might continue proving their stamina, because the outlook on the market (and other GBP pairs), is bearish for this week. The accumulation territories at 1.3100 and 1.3050 are vulnerable.

USD/JPY: The USD/JPY only moved sideways last week, and the chances of a rising momentum are great this week. Although the price movement was clearly flat on July 4, 2016, the outlook on the market, as well as other JPY pairs, is bearish for this week and this month. Bears could thus target the demand levels at 102.00 and 101.50 this week.

EUR/JPY: This cross went upwards by 250 pips last week, but the bearish bias on the market remains valid. While price simply went flat on Monday, a northward movement of 300 pip would result in a Bullish Confirmation Pattern, while a southward movement would simply emphasize the extant bearish bias.

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316

GBP/USD dropped 450 pips last week, to test the low of 1.2796, before price consolidated in the last few days of the week. The bias on 4-hour, daily and weekly charts is bearish, and thus price should continue its decline. However, this week may be different, for we could see a strong rally in the context of a downtrend. The expected rally would not be strong enough to push price beyond the high of June 23, 2016.

EUR/USD: This pair moved essentially sideways throughout last week, but the bias remains bearish. There is a need for price to go above the resistance line at 1.1400, before it can be said that bulls have begun to reign in this market. There could be some serious bullish attempts this week, but they would not be able to push price beyond the resistance line at 1.1400.

USD/CHF: This currency trading instrument made a commendable effort to go upwards last week. Price first went above the support level at 0.9800, and then tested the resistance level at 0.9850. Bulls might also be able to target the resistance level at 0.9000. Nonetheless there are two obstacles along the way, which is expected stamina in CHF in the month, coupled with the possibility that USD could also lose strength this week or next.

GBP/USD: GBP/USD dropped 450 pips last week, to test the low of 1.2796, before price consolidated in the last few days of the week. The bias on 4-hour, daily and weekly charts is bearish, and thus price should continue its decline. However, this week may be different, for we could see a strong rally in the context of a downtrend. The expected rally would not be strong enough to push price beyond the high of June 23, 2016.

USD/JPY: This pair went downwards by at least, 250 pips last week. There is a Bearish Confirmation Pattern in the market, and further southward movement could be witnessed this week. The next targets for bears are located at the demand levels of 100.00, 99.50 and 99.00. The demand level at 100.00 would pose a challenge to bears; but once it is breached to the downside, further bearish movement would be seen as price goes below other demand levels beneath.

EUR/JPY: The EUR/JPY declined by 330 pips from Monday to Wednesday – only to move sideways on Thursday and Friday. The bias is bearish; just as it is bearish on other JPY pairs. Any rallies in this market ought to be ignored. They might even be taken as opportunities to go short at better prices.

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317

The EUR/USD pair moved essentially sideways yesterday, but the bias remains bearish. There is a need for price to go above the resistance line at 1.1400, before it can be said that bulls have begun to reign in this market. There could be some serious bullish attempts this week, but they would not be able to push price beyond the resistance line at 1.1400.

EUR/USD: This pair moved essentially sideways yesterday, but the bias remains bearish. There is a need for price to go above the resistance line at 1.1400, before it can be said that bulls have begun to reign in this market. There could be some serious bullish attempts this week, but they would not be able to push price beyond the resistance line at 1.1400.

USD/CHF: This market is yet to go above the resistance level at 0.9850. Bulls might also be able to target the resistance level at 0.9000. Nonetheless there are two obstacles along the way, which is expected stamina in CHF in the month, coupled with the possibility that USD could also lose strength this week or next.

GBP/USD: GBP/USD only moved sideways last On Monday – in the context of a dominant bearish outlook. We could see a strong rally in the context of a downtrend this week. The expected rally would not be strong enough to push price beyond the high of June 23, 2016. The bearish movement appears to have thinned out in the short-term.

USD/JPY: This currency trading instrument went upwards 250 pips on July 11, 2016. With additional bullish movement of 300 pips, the bias would turn bullish, and there would have been a Bullish Confirmation Pattern in the market by then. However, there is a still a possibility of bearish movement this week.

EUR/JPY: This cross also went upwards by 250 pips yesterday, but the bias remains bearish. A movement of another 300 pips to the upside would result in a clean bullish signal in the market. However, there is also a possibility of further bearish movement before the end of the week.

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318

The EUR/JPY cross went upwards by 700 pips last week, reaching the supply zone at 118.00. Price got corrected by 220 pips on Friday, although that has not violated the Bullish Confirmation Pattern in the 4-hour chart. Price could go upwards from here, but that does not rule out the possibility of bearish threats.

EUR/USD: This currency trading instrument went flat throughout last week, without going above the resistance line at 1.1200, nor going below the support line at 1.1000. A breakout is imminent this week, which would most probably be in favor of bulls. This means that the resistance line at 1.1200 could be broken to the upside this week.

USD/CHF: This pair is still making effort to trend upwards, though it came under a serious challenge on Wednesday and Thursday. Bulls need to prevent the price from moving below the support level at 0.9700 – an event that could cause a “sell” signal to form in the market. There are other two challenges to his pair this week: USD could become weak and CHF could amass some stamina. All these threats could result in a “sell” signal this week.

GBP/USD: This pair moved upwards by 550 pips last week, just like other GBP pairs (GBP/NZD moved upwards by 1100 pips, while GBP/JPY moved upwards by 1300 pips, all in last week). Further bullish movement is expected this week, which could result in a bullish signal in case price goes upwards by another 500 pips. However, it would take a long time before the bias on daily and weekly charts become bullish.

USD/JPY: Contrary to expectation at the beginning of last week, USD/JPY, just like other JPY pairs, moved upwards significantly. USD/JPY moved upwards 560 pips last week, getting corrected lower on Friday. This week, price would either move above the supply level at 106.00, or go below the demand level at 103.00.

EUR/JPY: The EUR/JPY cross went upwards by 700 pips last week, reaching the supply zone at 118.00. Price got corrected by 220 pips on Friday, although that has not violated the Bullish Confirmation Pattern in the 4-hour chart. Price could go upwards from here, but that does not rule out the possibility of bearish threats.

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319

The EUR/USD went flat throughout last week and on Monday, without going above the resistance line at 1.1200, nor going below the support line at 1.1000. A breakout is imminent this week, which would most probably be in favor of bulls. This means that the resistance line at 1.1200 could be broken to the upside this week.

EUR/USD: This currency trading instrument went flat throughout last week and on Monday, without going above the resistance line at 1.1200, nor going below the support line at 1.1000. A breakout is imminent this week, which would most probably be in favor of bulls. This means that the resistance line at 1.1200 could be broken to the upside this week.

USD/CHF: The USD/CHF simply consolidated on July 18 – in the context of an uptrend. A movement below the support level at 0.9700 could result in a bearish outlook, and in case bulls are able to push price upwards, the next targets could be the resistance levels at 0.9850 and 0.9900.

GBP/USD: This currency trading instrument moved upwards last week; and further bullish movement is expected this week, which could result in a bullish signal in case price goes upwards by another 500 pips. However, it would take a long time before the bias on daily and weekly charts become bullish.

USD/JPY: This currency trading instrument made some attempt to go further upwards yesterday, now above the demand level at 106.00. Bulls might be able to target the supply levels at 106.50, 107.00 and 107.50. This bullish bias would hold as long as price does not go below the demand levels at 105.00 and 104.50.

EUR/JPY: on Monday, the movement of the EUR/JPY was similar to the movement of USD/JPY. There is a Bullish Confirmation Pattern in the market and price could go further upwards. This bullish bias would hold as long as price does not go below the demand zones at 105.00 and 104.50.

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320

The Cable traded sideways last week, not going above the distribution territory at 1.3400, nor going below the accumulation territory at 1.2950. This has caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push price above or below the aforementioned accumulation and distribution territories.

EUR/USD: This pair moved south 100 pips, closing just above the support line at 1.0950. There is a “sell” signal in the 4-hour chart and there is a high probability that price would go further downwards this week, especially in the face of expected stamina in USD, which would aid bears.

USD/CHF: The USD/CHF has been able to maintain its bullishness. There is a Bullish Confirmation Pattern in the chart, and further upwards movement is possible. Price has gone above the support level at 0.9850, testing the resistance level at 0.9900. Despite several bullish attacks, the resistance level is yet to be broken to the upside. However, that objective could be realized this week.

GBP/USD: The Cable traded sideways last week, not going above the distribution territory at 1.3400, nor going below the accumulation territory at 1.2950. This has caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push price above or below the aforementioned accumulation and distribution territories.

USD/JPY: This market first went upwards 200 pips, topping at 107.48. Further bullish signal was rejected at that point and price began to be corrected to the downside – at least by 150 pips. However, this has not rendered the bullish bias invalid (expect price drops by another 150 pips). Additional drop is thus expected this week because JY pairs might come under selling pressure anytime in the week.

EUR/JPY: There are mixed signal on this cross. It simply consolidated to the downside last week, but things have not gone completely bearish. That expectation could come to fruition this week; owing to a possible weakness in JPY pairs. Thus, bears might be able to target the demand zones at 116.00, 115.50 and 115.00 this week.

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321

The Cable traded sideways last week, not going above the distribution territory at 1.3400, nor going below the accumulation territory at 1.2950. This stance has not changed this week. This has caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push price above or below the aforementioned accumulation and distribution territories.

EUR/USD: This pair made a faint effort to go upwards yesterday, but nothing has really changed. There is a “sell” signal in the 4-hour chart and there is a high probability that price would go further downwards this week, especially in the face of expected stamina in USD, which would aid bears.

USD/CHF: The USD/CHF has been able to maintain its bullishness. There is a Bullish Confirmation Pattern in the chart, and further upwards movement is possible. Price has gone above the support level at 0.9850, testing the resistance level at 0.9900. Despite several bullish attacks, the resistance level is yet to be broken to the upside. However, that objective could be realized this week.

GBP/USD: The Cable traded sideways last week, not going above the distribution territory at 1.3400, nor going below the accumulation territory at 1.2950. This stance has not changed this week. This has caused the bias to become neutral in the near-term. But there could be a breakout this week or next, which would push price above or below the aforementioned accumulation and distribution territories.

USD/JPY: This currency trading instrument is showing a sign of weakness – something that could jeopardize the existing bullish bias – especially in the face of the expected weakness on JPY pairs this week. Further downwards movement is a possibility and this can eventually lead to a Bearish Confirmation Pattern in the chart.

EUR/JPY: There are mixed signal on this cross. It consolidated to the downside yesterday, but things have not gone completely bearish. That expectation could come to fruition this week; owing to a possible weakness in JPY pairs. Thus, bears might be able to target the demand zones at 116.00, 115.50 and 115.00 this week.

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323

The USD/CHF went upwards at the beginning of last week, and almost reached the resistance level at 0.9950. From that point, price declined 300 pips, to close at 0.9635 on Friday and below the resistance level at 0.9700. Price is expected to reach the support levels at 0.9650, 0.9600 and 0.9550 this week. The only threat to this expectation is a possible stamina in USD.

EUR/USD: This pair trended upward strongly last week, making that week see greater volatility on major pairs; unlike what happened between July 18 to 21. Price has gone upwards by 230 pips, closing above the support line at 1.1150. There is a Bullish Confirmation Pattern in the market and price is supposed to continue moving upwards, unless USD experiences a considerable amount of strength.

USD/CHF: The USD/CHF went upwards at the beginning of last week, and almost reached the resistance level at 0.9950. From that point, price declined 300 pips, to close at 0.9635 on Friday and below the resistance level at 0.9700. Price is expected to reach the support levels at 0.9650, 0.9600 and 0.9550 this week. The only threat to this expectation is a possible stamina in USD.

GBP/USD: This currency trading instrument simply moved sideways last week – in an equilibrium movement which started two weeks ago. The equilibrium phase would end this week or next, providing that price goes upwards or downwards 500 pips. This month, GBP might plummet versus JPY and USD, while going upwards versus AUD and NZD.

USD/JPY: As it was prognosticated at the beginning of last week, the USD/JPY plummeted by almost 450 pips. Selling pressure is also visible on other JPY pairs. USD/JPY is supposed to continue going downwards this week, reaching the demand levels at 101.50, 101.00 and 100.50 this week or next. The outlook on JPY pairs is also bearish for the month of August 2016.

EUR/JPY: In this market, bears are the overall winners last week. Price plummeted by 250 pips on Friday, leading to a vivid bearish signal in the market. Further southwards movement is possible: Price could reach the demand zones at 113.50, 113.00 and 112.50 this week or next.

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324

The GBP/USD simply moved sideways last week – in an equilibrium movement which started two weeks ago. The equilibrium phase would end this week or next, providing that price goes upwards or downwards 500 pips. This month, GBP might plummet versus JPY and USD, while going upwards versus AUD and NZD.

EUR/USD: This pair moved sideways yesterday, and may trend strongly today or tomorrow. The bias is bullish, and therefore, it is expected that price might go further upwards today, reaching for the resistance lines at 1.1200 and 1.1250. The only threat to this assumption is a possible stamina in USD, which may happen any time.

USD/CHF: The USD/CHF still shows willingness to go further south, while the major bias remains bearish. In the market, transient rallies might be viewed as opportunities to go short at slightly higher prices. Unless USD gains strength, bears would push price south, reaching the support levels at 0.9650 and 0.9600.

GBP/USD: This currency trading instrument simply moved sideways last week – in an equilibrium movement which started two weeks ago. The equilibrium phase would end this week or next, providing that price goes upwards or downwards 500 pips. This month, GBP might plummet versus JPY and USD, while going upwards versus AUD and NZD.

USD/JPY: The USD/JPY went flat on Monday. There is a Bearish Confirmation Pattern in the market, and further bearish movement is possible, especially in the face of a bearish expectation on JPY pairs. There are interesting demand levels at 101.50 and 100.50, which could be tested this week.

EUR/JPY: This is also a bear market in the short term – which should trend further downward this week in spite of bullish effort that may be witnessed along the way. Further southwards movement is possible: Price could reach the demand zones at 113.50, 113.00 and 112.50 this week or next.

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325

The USD/CHF went downwards on August 1 and 2, and then began a bullish journey that lasted till August 5. This happened in the context of a downtrend and it has not invalidated the downtrend, which would hold for some time. When price goes beyond the resistance level at 0.9950, a clean bullish signal would form, though that is unlikely to happen.

EUR/USD: This pair moved north on Monday and Tuesday, and then began to trend downwards from Wednesday till the end of the week. Only a movement above the resistance line at 1.1300 would lead to a “buy” signal, otherwise, this pair would remain a bearish market.

USD/CHF: The USD/CHF went downwards on August 1 and 2, and then began a bullish journey that lasted till August 5. This happened in the context of a downtrend and it has not invalidated the downtrend, which would hold for some time. When price goes beyond the resistance level at 0.9950, a clean bullish signal would form, though that is unlikely to happen.

GBP/USD: On the Cable, the bias is bearish on the 4-hour and the daily chart, with clean Bearish Confirmation Patterns on both time horizons. The outlook for this week remains bearish, though price would eventually meet some recalcitrant accumulation territories at 1.3000 and 1.2950, which would pose some challenges to bears.

USD/JPY: This currency trading instrument moved sideways last week, then went further south, and the consolidated again till Friday. The outlook on the instrument, as well as other JPY pairs, remains strongly bearish. So it would be interesting to watch the demand levels at 101.00, 100.50 and 100.00, which should be breached after much selling pressure.

EUR/JPY: This cross moved south last week – by at least around 200 pips. This slow and steady movement (or fast movement) is expected to continue this week, as bears push price towards the demand zones at 112.50, 112.00 and 111.50. Since there is a Bearish Confirmation Pattern in the market, the demand zones would be likely reached, though there may be a show of strength by bulls along the way.

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