Instaforex Trading Forecasts

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366

The EUR/JPY went flat throughout last week. However, a closer look at the market reveals that bulls are intent on pushing price higher. So when momentum returns to the market, it might push price towards north. The supply zones at 123.00, 123.50 and 124.00 might be reached soon.

EUR/USD: The EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly from Wednesday. Overall, the bias is bearish, which means that the current bullish attempt is an opportunity to go short at better prices. The support lines at 1.0400 and 1.0350 could still be reached.

USD/CHF: This pair is currently consolidating and it is quite choppy right now. However, the recent outlook is bullish and as long as price is above the psychological level at 1.0000. This is something that may hold for the rest of this year, for further bullish movement is a logical possibility.

GBP/USD: This pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.

USD/JPY: This market has become flat since last week and there is no directional movement in the near term. Right now, it is OK to stay away from the market because there are mixed signals in it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14 is giving a bearish indication. Soon, the indicators would begin to give signals in the same direction.

EUR/JPY: The EUR/JPY went flat throughout last week. However, a closer look at the market reveals that bulls are intent on pushing price higher. So when momentum returns to the market, it might push price towards north. The supply zones at 123.00, 123.50 and 124.00 might be reached soon.

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

367

The GBP/USD pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.

EUR/USD: The EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly from Wednesday. Overall, the bias is bearish, which means that the current bullish attempt is an opportunity to go short at better prices. The support lines at 1.0400 and 1.0350 could still be reached.

USD/CHF: The USD/CHF merely moved sideways on Monday – and the bias on the market remains bullish. The price action and the indicators in the 4-hour chart reveal that when momentum returns to the market, it would most probably favor the bulls. The targets for the week remain at the resistance levels at 1.0300 and 1.0350.

GBP/USD: This pair came down 200 pips this week. Now below the distribution territory at 1.2300. There is a Bearish Confirmation Pattern in the chart and the accumulation territories at 1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not recommended in this market at this period.

USD/JPY: This market has become flat since last week and there is no directional movement in the near term. Right now, it is OK to stay away from the market because there are mixed signals in it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14 is giving a bearish indication. Soon, the indicators would begin to give signals in the same direction.

EUR/JPY: There is a possibility of a bullish movement on the EUR/JPY cross. In spite of the recent flat movement, the overall outlook on the market is bullish, which would hold as long as price does not go below the demand zone at 120.50, which would require a strong bearish pressure anyway.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

368

The EUR/USD was able to maintain its bullishness last week. There is a Bullish Confirmation Pattern in the 4-hour chart, and price is currently testing the resistance line at 1.0700. The resistance line would be broken to the upside this week as price targets another resistance lines at 1.0750 and 1.0800.

EUR/USD: The EUR/USD was able to maintain its bullishness last week. There is a Bullish Confirmation Pattern in the 4-hour chart, and price is currently testing the resistance line at 1.0700. The resistance line would be broken to the upside this week as price targets another resistance lines at 1.0750 and 1.0800.

USD/CHF: The USD/CHF was able to maintain its bearishness last week. There is a Bearish Confirmation Pattern in the 4-hour chart, and price is currently below the resistance level at 1.0050. The great psychological level at 1.0000 is still a formidable threat to the current bearish outlook, and price should be able to break it to the downside this week, so that the bearish movement can continue.

GBP/USD: The Cable rallied last week and consolidated till the end of the week, remaining volatile throughout the week. Things have turned bullish in the short-term, and it is anticipated that price would go upwards by at least, 200 pips this week. Therefore the distribution territories at 1.2400, and 1.2450 and 1.2500.

USD/JPY: There are conflicting signals in the USD/JPY 4-hour chart. The outlook on the market is bearish, but right now, there is a kind of hesitation in the market. This week, price could go seriously upwards or further downwards to emphasize the recent bearish outlook. Whatever would happen, this week would tell.

EUR/JPY: There is a “buy” signal in this market. Price has gone upwards - mainly because the EUR is strong. Since movements of JPY pairs would be determined by whatever happens to other currencies, this market would continue to go upwards as long as EUR is strong. The Supply zones at 123.00, 123.50 and 124.00 could be reached.

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369

The GBP/USD moved upwards by 170 pips yesterday, to continue the bullish signal that was started last week. There is a Bullish Confirmation Pattern and price may later reach the distribution territories at 1.2550, 1.2600, and 1.2650.

EUR/USD: There is a bullish signal on the EUR/USD, and just as it was forecasted earlier this week, price is expected to go further northwards. The market moved up beyond the support line at 1.0750 yesterday, targeting the resistance lines at 1.0800, 1.0850 and 1.0850. This bullishness would be sensible as long as price does not go below the support line at 1.0600.

USD/CHF: There is a bearish signal on the USD/CHF, and just as it was forecasted earlier this week, price is expected to go further southwards. The market moved up below the resistance line at 1.0000, targeting the support lines at 0.9950, 0.9900 and 0.9850. This bearishness would be sensible as long as price not go above the resistance line at 1.0000. The resistance line at 1.0000 is particularly important because it would not be easy to be broken to the upside, and so, the current bearishness is expected to hold out longer.

GBP/USD: The GBP/USD moved upwards by 170 pips yesterday, to continue the bullish signal that was started last week. There is a Bullish Confirmation Pattern and price may later reach the distribution territories at 1.2550, 1.2600, and 1.2650.

USD/JPY: What happened yesterday showed that the rally that happened last Thursday and Friday was an opportunity to sell short at better prices. Price went south on Monday, underlining the recent bearish trend in the market. Further downwards movement is expected for the rest of this week.

EUR/JPY: The movement on this currency cross is now quite similar to the movement on the USD/JPY. There is a Bearish Confirmation Pattern here, and further bearish movement is possible as price targets the demand zones at 121.00 (the first target), 120.50 and 120.00.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

370

There is a bullish signal on the EUR/JPY. Last week, price moved upwards by 210 pips, from the low of January 23. Price has closed above the demand zone at 123.00, and it may now target the supply zones at 123.50, 124.00 and 124.50.

EUR/USD: The EUR/USD is in a bullish mode, but price merely consolidated throughout last week, not being able to stay above the resistance line at 1.0750. For the current bullish outlook to continue to make sense, price would need to go above the resistance line at 1.0750, and also reach another resistance line at 1.0800; otherwise a serious pullback may be experienced.

USD/CHF: The USD/CHF only went flat throughout last week, in the context of a downtrend. The market has, interestingly oscillated around the psychological level at 1.0000. Should the market stay around that level for the next several trading days, the bias on the market would turn neutral. For a directional bias to form, the market would need to move further away from that level. A strong movement to the south would emphasize the recent weakness in the market, while a strong movement to the north would result in a new bullish outlook.

GBP/USD: Since the beginning of last week, the GBP/USD has moved upwards by 660 pips. The market topped at the distribution territory at 1.2650, and then retraced a bit. The retracement continued until the market closed on Friday. The bias is still bullish and as long as price does not go below the accumulation territory at 1.2300, the bullish outlook would be valid.

USD/JPY: This currency trading instrument went downwards on Monday, and then began to trend upwards from Tuesday (till the end of the week). This has made price action to generate a “buy” signal in the short-term, which may continue to be valid as price goes further north. This is something that can lead to a Bullish Confirmation Pattern in the market.

EUR/JPY: There is a bullish signal on the EUR/JPY. Last week, price moved upwards by 210 pips, from the low of January 23. Price has closed above the demand zone at 123.00, and it may now target the supply zones at 123.50, 124.00 and 124.50.

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371

The EUR/JPY went downwards on Monday, now above the demand zone 121.50. Price may go upwards from here, generating a bullish signal in the short term. On the other hand, a movement below the demand zones at 121.00 and 120.00 would result in a bearish signal.

EUR/USD: This pair experienced a minor pullback on January 30, in the context of an uptrend. As long as price does not go below the support line at 1.0500, the uptrend would be valid. Normally, price may go above the resistance lines at 1.0750, 1.0800 and 1.0850 this week.

USD/CHF: The USD/CHF only went flat throughout last week, in the context of a downtrend. The market has, interestingly oscillated around the psychological level at 1.0000. Should the market stay around that level for the next several trading days, the bias on the market would turn neutral.

GBP/USD: The Cable has continued the bearish correction it started last Friday. Further bearish correction would pose a threat to the recent bullish outlook, especially when the accumulation territory at 1.2300 is breached to the downside. Should price rally significantly from here, it would help re-establish the recent bullish bias.

USD/JPY: The market went slightly downwards yesterday, just in conjunction with the extant bearish outlook. It turned out that the rally that was seen at the end of last week was simply a good opportunity to go short at better prices. There is a clean Bearish Confirmation Pattern in the market, and further southwards movement is anticipated.

EUR/JPY: The EUR/JPY went downwards on Monday, now above the demand zone 121.50. Price may go upwards from here, generating a bullish signal in the short term. On the other hand, a movement below the demand zones at 121.00 and 120.00 would result in a bearish signal.

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

373

The USD/CHF went downwards last week, but significantly. Price is below the resistance levels at 1.0000 and 0.9950, now moving towards the support level at 0.9900, which is one of the targets for this week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is expected.

EUR/USD: The EUR/USD went upwards last week, but also not significantly. Price tested the resistance line at 1.0800 many times, but it was unable to breach it to the upside. The resistance line at 1.0800 must be breached to the upside this week, so that the bullish movement can continue, and so that risk of a serious pullback can be averted.

USD/CHF: The USD/CHF went downwards last week, but significantly. Price is below the resistance levels at 1.0000 and 0.9950, now moving towards the support level at 0.9900, which is one of the targets for this week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is expected.

GBP/USD: The Cable has been characterized by upwards and downwards swings. Last week, price generally moved between the distribution territory at 1.2700 and the accumulation territory at 1.2400. A break above the distribution territory would emphasize a bullish outlook; while a break below the accumulation territory would emphasize a bearish outlook.

USD/JPY: Here, the bias has turned bearish on 4-hour and daily charts. There is a Bearish Confirmation Pattern in the market, and further bearish journey is a possibility. There would be occasional rallies along the way, but the overall movement should be bearish this week, as bears target the demand levels at 112.00, 111.50 and 111.00 this week.

EUR/JPY: This currency trading instrument is neutral in the long-term and bearish in the short-term. There is a short-term “sell” signal in the market, and price is supposed to continue going further downwards. Further bearish movement would also result in a bearish outlook in the long-term. The first target for this week is at the demand zone at 120.50: followed by the demand zones at 120.00, and 119.50.

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374

The EUR/JPY trended downwards from Monday till Wednesday, and started going upwards on Thursday, before it got corrected on Friday. The medium-term bias is bearish, and further bearish movement is possible, which may see the market testing the demand zones at 120.00 and 119.50. On the other hand, a strong rally may happen soon.

EUR/USD: The dominant bias on this market is bearish and the short-term signal is also bearish. Price moved further south last week, leading to a Bearish Confirmation Pattern as it closed below the resistance line at 1.0650 on Friday. More southwards movement is possible this week, targeting the support lines at 1.0600, 1.0550 and 1.0500.

USD/CHF: The USD/CHF has generated a valid bullish signal. The market moved sideways, but started rising gradually in the last two days of the week. Price has been able to go above the important support level at 1.0000 and it would not be easy for it to go below that level again. Further bullish movement is expected within the next several trading days.

GBP/USD: The Cable merely moved sideways last week – which has led to an equilibrium phase in the market. The sideways movement could continue this week or so… But a rise in a bearish movement is very likely and it may happen any day. There would also be a bearish movement on some other GBP pairs as well.

USD/JPY: The bias on this market is bearish, and the rally that was seen on it towards the end of the week was merely a bullish attempt in the context of a downtrend. Nevertheless, there is a possibility that a strong rally would occur this month or next (also on JPY pairs). While the demand levels at 112.50 and 112.00 may be tested, there may soon be a rise in a bullish momentum which would push the market upwards significantly.

EUR/JPY: The EUR/JPY trended downwards from Monday till Wednesday, and started going upwards on Thursday, before it got corrected on Friday. The medium-term bias is bearish, and further bearish movement is possible, which may see the market testing the demand zones at 120.00 and 119.50. On the other hand, a strong rally may happen soon.

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

375

The EUR/USD went downwards on Monday, continuing the bearish movement that was started last week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is envisaged as price goes towards the support lines at 1.0550, 1.0500 and 1.0450 within the next few trading days.

EUR/USD: The EUR/USD went downwards on Monday, continuing the bearish movement that was started last week. There is a Bearish Confirmation Pattern in the market, and further bearish movement is envisaged as price goes towards the support lines at 1.0550, 1.0500 and 1.0450 within the next few trading days.

USD/CHF: The near-term bullish signal on this pair was established as price went above the great psychological level at 1.0000. Price is also above another support line at 1.0050, going towards the resistance line at 1.0100. This could be a beginning of a serious bullish journey that would hold out till the end of the month.

GBP/USD: This currency trading instrument is still in an equilibrium phase, which it started last week. But a rise in a bearish movement is very likely and it may happen any day. There would also be a bearish movement on some other GBP pairs as well. Long trades should not be held for a long time in this market.

USD/JPY: There is a precarious bullish signal on the USD/JPY (which was started last week). Price is currently above the demand level at 113.50, and it may even retrace further towards the demand level at 113.00. As long as price does not retrace towards the demand level at 112.00, the bullish signal would be in place. Further upwards movement (which is expected anytime soon), would reinforce the existing bullish effort.

EUR/JPY: The bias on the EUR/JPY is bearish. Bulls attempted to push price upwards yesterday, but their effort was aborted as price showed further weakness in February 13. There is a bearish signal in the market, and price could go further south, although this may soon be overturned by the expected bullish movement on JPY pairs.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

376

The EUR/JPY consolidated from Monday to Thursday and then broke out to the downside on Friday. Price closed below the supply zone at 120.00 on Friday, after generating a bearish signal, which may continue to hold out this week.

EUR/USD: The EUR/USD went downwards from Monday till Wednesday and later bounced upwards. The upwards bounce could be seen as a good opportunity to go short, although a movement above the resistance line at 1.0750 would threaten the bearish outlook. Right now, price seems to be going south, and further southward movement would bring more emphasis on the bearish outlook.

USD/CHF: Here, it can be seen that the psychological level at 1.0000 has become insignificant because price just goes above and below it at will, while the level offers little resistance to that play. Price went below the level at 1.0000 on Thursday and then went above it on Friday. One would need to wait to see what price would do today.

GBP/USD: The GBP/USD moved sideways throughout last week. However, there would soon be a serious breakout in the market, which would most probably push it to the downside, as the outlook on GBP pairs remains bearish for February. Bullish attempts should be approached with caution here.

USD/JPY: This pair also went upwards from Monday to Wednesday, and then got corrected downwards. The downward correction remains in place; and should it go further downwards, it would generate a bearish signal (which may become particularly strong once price goes below the supply level at 112.50).

EUR/JPY: The EUR/JPY consolidated from Monday to Thursday and then broke out to the downside on Friday. Price closed below the supply zone at 120.00 on Friday, after generating a bearish signal, which may continue to hold out this week.

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

377

On the USD/CHF, it can be seen that the psychological level at 1.0000 has become insignificant because price just goes above and below it at will, while the level offers little resistance to that play. Price did not significant on Monday, but a rise in momentum may be witnessed very soon.

EUR/USD: This pair did nothing significant on Monday: It only moved sideways in the context of a bearish outlook. Some considerable movement might occur this week, but it may not be as significant as what we would see next week. Further bearish movement is expected in the market, as price targets the support lines at 1.0600, 1.0550 and 1.0500.

USD/CHF: Here, it can be seen that the psychological level at 1.0000 has become insignificant because price just goes above and below it at will, while the level offers little resistance to that play. Price went below the level at 1.0000 on Thursday and then went above it on Friday. One would need to wait to see what price would do today.

GBP/USD: The GBP/USD moved sideways throughout last week (plus Monday). However, there would soon be a serious breakout in the market, which would most probably push it to the downside, as the outlook on GBP pairs remains bearish for February. Bullish attempts should be approached with caution here.

USD/JPY: This currency trading instrument simply went flat yesterday, and the position of the market is currently dicey. The bias is not very bullish or very bearish (at least in the short-term). It is OK to wait for price to assume a protracted directional movement, which would most probably be in favor of bulls in the long run.

EUR/JPY: This cross pair also did nothing significant on February 20, 2017. The near-term bias is bearish, and there is likelihood that price could go further downwards today or tomorrow, reaching the demand zones at 119.50 and 119.00. As it has often been mentioned, this does not rule out the possibility of a strong pullback that may occur very soon.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

378

The EUR/JPY dived by over 180 pips last week, closing below the supply zone at 118.50 on Friday. There is a clean Bullish Confirmation Pattern in the 4-hour chart, and further dive is possible this week, which may take price towards the demand zones at 118.00, 117.50 and 116.50.

EUR/USD: The EUR/USD is in a short-term downtrend, though price made some weak bullish attempts on Thursday and Friday. The outlook on the market is bearish, and so, the recent bullish attempt happened in the context of a downtrend, which is a good opportunity to go short at better prices.

USD/CHF: The USD/CHF, which is in a short-term uptrend, pulled back Friday. The pullback could end up being a good opportunity to buy long at a better price. The market could still reach the support levels at 1.0100 and 1.0150 within the next several trading days.

GBP/USD: The bias on the Cable is essentially flat. The market has consolidated for about three week, oscillating between the accumulation territory at 1.2300 and the distribution territory at 1.2600. Price must go above that distribution territory or below the accumulation territory before the current neutral bias can be considered as over. There is going to be an end to the neutrality before the end of March.

USD/JPY: This pair moved sideways last week, and then trended downwards on Thursday and Friday, which has generated a “sell” signal in the market. The outlook is neutral in the medium-term and bearish in the short-term. Price is supposed to trend further downwards, but that does not rule out a possibility of a strong bullish breakout (which may also occur on other JPY pairs).

EUR/JPY: The EUR/JPY dived by over 180 pips last week, closing below the supply zone at 118.50 on Friday. There is a clean Bullish Confirmation Pattern in the 4-hour chart, and further dive is possible this week, which may take price towards the demand zones at 118.00, 117.50 and 116.50.

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

379

The USD/CHF is currently trading above the support level at 1.0050, now close to the resistance level at 1.0100. The outlook on the market is bullish and price could test additional resistance levels at 1.0150 and 1.0200 this week.

EUR/USD: The EUR/USD did not trend yesterday, though the outlook on the market is bearish. It is expected that price would continue going south this week, reaching the support lines at 1.0550, 1.0500 and 1.0450. The outlook on other EUR pairs is also bearish and they can trend seriously downwards this week or next.

USD/CHF: The USD/CHF is currently trading above the support level at 1.0050, now close to the resistance level at 1.0100. The outlook on the market is bullish and price could test additional resistance levels at 1.0150 and 1.0200 this week.

GBP/USD: The bias on the Cable is essentially flat. The market has consolidated for about three week, oscillating between the accumulation territory at 1.2300 and the distribution territory at 1.2600. Price must go above that distribution territory or below the accumulation territory before the current neutral bias can be considered as over. There is going to be an end to the neutrality before the end of March.

USD/JPY: There was a slight rally on this currency trading instrument on Monday – which happened in the context of a downtrend. A movement below the demand level at 112.00 would reinforce the existing bearish bias. A movement above the supply level at 114.00 would render the bearish bias invalid.

EUR/JPY: On February 27, the EUR/JPY also attempted to rally, and that can turn out to be a good opportunity to sell short again. There is a clean Bearish Confirmation Pattern in the 4-hour chart, and further dive is possible this week, which may take price towards the demand zones at 118.00, 117.50 and 116.50.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

380

The EUR/JPY moved up by 270 pips last week, closing above the demand zone at 121.00. There is a strong Bullish Confirmation Pattern in the 4-hour chart, and further upwards movement is expected this month, which would take price towards the supply zones at 121.50, 122.00 and 122.50.

EUR/USD: This market moved slightly south last week, reaching support line at 1.0500, and then bouncing upwards on Friday. The upwards bounce is supposed to be a temporary rally in the context of a downtrend, unless price goes above the resistance line at 1.0700 (which would inevitably lead to a new bullish outlook).

USD/CHF: There is a faint bullish signal on this pair, and price would continue going upwards only as long as the EUR/USD continues moving south (irrespective of occasional rally attempts on the latter). A movement below the support level at 1.0000 would lead to a bearish signal, while a movement above the resistance level at 1.0150 would reinforce the extant bullishness.

GBP/USD: The GBP/USD moved south by around 230 pips last week; thus ending the recent neutral bias on the market. Price bounced upwards on Friday, but that would most probably turn out to be an opportunity to go long in the market, while things are on sale. There is a Bearish Confirmation Pattern in the market, and the outlook on other GBP pairs is also bearish for the week.

USD/JPY: This currency trading instrument trended upwards by 250 pips last week – from the demand level at 112.00 to the supply level at 114.50. There is a clean bullish signal in the market, which has come as a result of a bullish expectation on this instrument (as well as on other JPY pairs). The supply levels at 115.00 and 115.50 could be tested this week, and those are the initial targets for this week.

EUR/JPY: The EUR/JPY moved up by 270 pips last week, closing above the demand zone at 121.00. There is a strong Bullish Confirmation Pattern in the 4-hour chart, and further upwards movement is expected this month, which would take price towards the supply zones at 121.50, 122.00 and 122.50.

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381

This week, the Cable has gone south by almost 100 pips. Price has gone down 280 pips since February 27, 2017. The Bearish Confirmation Pattern in the chart is very strong, and price can test the accumulation territories at 1.2150, 1.2100 and 1.2050 this week.

EUR/USD: This pair want slightly downwards on Monday. Further downwards movement is expected today and tomorrow, which would make price reach the support lines at 1.0550, 1.0500 and 1.0450. The bearish expectation is in conjunction with the current bias in the market, which is bearish for this week and this month.

USD/CHF: The USD/CHF has tested the resistance level at 1.0150, and it is bound to test it once again. Bulls are willing to push price beyond that resistance level, targeting another resistance levels at 1.0200 and 1.0250. There are support levels at 1.0100 and 1.0050, which would act as impediments to bearish attempts.

GBP/USD: This week, the Cable has gone south by almost 100 pips. Price has gone down 280 pips since February 27, 2017. The Bearish Confirmation Pattern in the chart is very strong, and price can test the accumulation territories at 1.2150, 1.2100 and 1.2050 this week.

USD/JPY: This currency trading instrument did nothing significant on Monday. However, there is a clean bullish signal in the market, which has come as a result of a bullish expectation on this instrument (as well as on other JPY pairs). The supply levels at 115.00 and 115.50 could be tested this week, and those are the initial targets for this week.

EUR/JPY: This cross merely consolidated yesterday. There is a strong Bullish Confirmation Pattern in the 4-hour chart, and further upwards movement is expected this month, which would take price towards the supply zones at 121.50, 122.00 and 122.50. On the other hand, a serious weakness in EUR may cause further pullback in the market.

Performed by Azeez Mustapha,
Analytical expert
Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

382

The EUR/JPY moved sideways in the first few days of last week, and then broke northwards, gaining about 280 pips. Price closed at 122.51 on Friday, ready to go further northwards. This week, the outlook on JPY pairs is bullish and EUR/JPY is expected to continue going upward, by at least, another 200 pips. Another factor that could help the cross is the stamina in the EUR itself.

EUR/USD: From Monday to Thursday, this currency trading instrument went gradually south. But further southwards movement was halted as price shot upwards by 170 pips from the low of last Thursday. This has resulted in a “buy” signal, and the next target for price to reach is the resistance line at 1.0700. Then price would go towards the resistance lines at 1.0750 and 1.0800. USD is supposed to be weak this week – a factor that can help the EUR/USD to rally further.

USD/CHF: There is a weak bullish bias on the USD/CHF. Price managed to trudge upwards last week, reaching the resistance level at 1.0150, and battering it several times without being able to breach it to the upside. Price was corrected lower on Friday, and further correction is possible, which would enable price to reach the support lines at 1.0050 and 1.0000. Another factor that can bring about this expectation is the fact that USD may be weakened this week. Then, as long as the EUR/USD is going upwards, USD/CHF may find it difficult to go upwards.

GBP/USD: This pair has gone south by 130 pips this week; having gone south by 310 pips since February 27, 2017. It looks like the accumulation territory at 1.2150 has become strong enough to prevent further southwards journey, after being battered unsuccessfully by bears. The outlook on USD is weak for this week, and this could be a factor that can cause some rally here.

USD/JPY: Just like the EUR/JPY, the USD/JPY also went sideways last week, and then moved upwards. On Friday, price closed below the supply level at 115.00. This week, price could go upwards, but this effort could be scuttled by the expected weakness in USD. There are supply levels at 116.00, 115.50 and 115.00. There are also demand levels at 114.50, 114.00 and 113.50.

EUR/JPY: The EUR/JPY moved sideways in the first few days of last week, and then broke northwards, gaining about 280 pips. Price closed at 122.51 on Friday, ready to go further northwards. This week, the outlook on JPY pairs is bullish and EUR/JPY is expected to continue going upward, by at least, another 200 pips. Another factor that could help the cross is the stamina in the EUR itself.

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383

The GBP/USD made some faint bullish effort on Monday – in the context of a downtrend. Unless price moves upwards by at least, 300 pips, there may not be a threat against the trend. Price is expected to drop further from here, testing the accumulation territories at 1.2200 and 1.2150 again.

EUR/USD: The EUR/USD tested the resistance line at 1.0700 yesterday, and then pulled back a bit. There is still a bullish bias on the market, which could potentially make the shallow pullback to turn out to be another opportunity to buy long when things are temporarily on sale, and in the context of a downtrend.

USD/CHF: The GBP/USD continues to drop further – albeit gradually. Price has dropped almost 80 pips since testing the resistance level at 1.0150. For bears, there are easy targets, located at the support levels at 1.0050 and 1.0000. As long as the EUR/USD goes upwards, the USD/CHF would go downwards.

GBP/USD: The GBP/USD made some faint bullish effort on Monday – in the context of a downtrend. Unless price moves upwards by at least, 300 pips, there cannot be a threat against the trend. Price is expected to drop further from here, testing the accumulation territories at 1.2200 and 1.2150 again.

USD/JPY: This week, this pair could go upwards, but this effort could be scuttled by the expected weakness in USD. There are supply levels at 116.00, 115.50 and 115.00. There are also demand levels at 114.50, 114.00 and 113.50.

EUR/JPY: This currency cross is in a bullish mode. The slight pullback that was witnessed yesterday was not a significant thing. While the demand zones at 122.00 and 121.50 could be tested this week, price is generally expected to trend upwards, reaching the supply zones at 122.50, 123.00 and 123.50.

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384

The EUR/USD went north last week – just as it was predicted. Although the market went south on Monday and Tuesday, it went northward in the last few days of last week. Price went briefly above the resistance line at 1.0750 and later closed below it on Friday. This week, some vivid correction is expected, for the outlook on EUR is bearish for the week.

EUR/USD: The EUR/USD went north last week – just as it was predicted. Although the market went south on Monday and Tuesday, it went northward in the last few days of last week. Price went briefly above the resistance line at 1.0750 and later closed below it on Friday. This week, some vivid correction is expected, for the outlook on EUR is bearish for the week.

USD/CHF: This pair moved sideways from Monday till Wednesday and then plummeted on Thursday. Price went down by 150 pips, testing the support level at 0.9950. The USD/CHF is supposed to continue going downwards as long as the EUR/USD is going upwards, although things may reverse this week.

GBP/USD: As it was anticipated, the Cable went upwards last week. A factor that was responsible for this is the weakness in USD, for the Cable is weak in its own right. From the accumulation territory at 1.2150, price went upwards by 250 pips, closing at 1.2395, after testing the distribution territory at 1.2400. This week, there could be a reversal in the market, especially when USD shows some strength.

USD/JPY: This currency trading instrument went sideways in the first few days of last week, and then dropped like a stone. What brought about this is the weakness in USD, which brought about the southwards journey in the market. Price went south by 220 pips last week, and further southwards journey is possible. However, there could be a rally before the end of the month, for the outlook on JPY pairs is bullish.

EUR/JPY: This cross pair consolidated to the downside last month. Apart from this, the overall movement was essentially flat. The fact that the cross did not trend upwards last week, reveal some hidden stamina in JPY. This week, more consolidation would bring about a neutral outlook on the market, although it is possible that JPY pairs would rally soon.

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385

There is a short-term bearish signal on the EUR/JPY. Price went down yesterday and it is now under the supply zone at 121.00. There is a possibility that the demand zones at 120.50 and 120.00 would be tested this week.

EUR/USD: This currency trading instrument went north last week, testing the resistance line at 1.0750. The outlook on the market is bullish, especially as long as USD is weak. The next targets for bulls are located at the resistance lines of 1.0800 and 1.0850, but that does not rule out a possibility of pullbacks along the way.

USD/CHF: This pair did not trend seriously on Monday, though there is a Bearish Confirmation Pattern in the market. The market is supposed to continue going downwards as long as the EUR/USD is going upwards, although things may reverse this week.

GBP/USD: Last week, the weakness in USD caused the Cable to rise, enabling a bullish bias to form in the market. From the accumulation territory at 1.2150, price went upwards by 250 pips, closing at 1.2395 on Friday, after testing the distribution territory at 1.2400. Price did nothing significant yesterday. This week, there could be a reversal in the market, especially when USD shows some strength.

USD/JPY: A bearish signal has been generated on the USD/JPY since last week, which has caused a Bearish Confirmation Pattern in the market. Price may go further southward to test the demand levels at 112.00 and 11.50. However, there could be a rally before the end of the month, for the outlook on JPY pairs is bullish.

EUR/JPY: There is a short-term bearish signal on the EUR/JPY. Price went down yesterday and it is now under the supply zone at 121.00. There is a possibility that the demand zones at 120.50 and 120.00 would be tested this week.

Performed by Azeez Mustapha,
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Forex | Online Forex Trading | Currency Trading | Forex Broker
InstaForex Companies Group

386

The EUR/USD moved slightly upwards last week, testing the resistance line at 1.0800 many times, without being able to close above it on Friday. Price may eventually go above the resistance line at 1.0800, but there may not be protracted bullish movement after that, because there are high chances of EUR pairs getting weak this week.

EUR/USD: The EUR/USD moved slightly upwards last week, testing the resistance line at 1.0800 many times, without being able to close above it on Friday. Price may eventually go above the resistance line at 1.0800, but there may not be protracted bullish movement after that, because there are high chances of EUR pairs getting weak this week.

USD/CHF: The USD/CHF moved downwards last week, testing the support level at 0.9900 many times, without being able to close below it on Friday. Price may eventually go below the resistance level at 0.9900 but there may not be protracted bearish movement after that (especially when the EUR/USD loses stamina). Price is already below the great psychological level at 1.0000, and may face some challenge in going above it, although expected weakness in CHF may help stabilize the market.

GBP/USD: Last week, this currency trading instrument went upwards, reaching the distribution territory at 1.2500. There is a lot of activity around that distribution territory, which would soon be breached to the upside, as price goes towards another distribution territories at 1.2550 and 1.2600. The outlook on GBP pairs is bullish this week, and the GBP/USD is no exception.

USD/JPY: Last week, price dropped by 150 pips. The USD/JPY has been trending downwards since March 10, 2017, having gone down more than 430 pips since then, and now it is active around the demand level at 111.00. Another demand zone at 110.50 and 110.00 could be tested within the next few trading days before there is reversal in the market.

EUR/JPY: There is a clear Bearish Confirmation Pattern on this cross, which moved downwards last week, testing the demand zone at 119.50. Once the demand zone is breached to the downside, price would move towards another demand zones at 119.00 and 118.50. However, the southwards movement may be far from holding out because there could be a rally on other JPY pairs before the end of March. The EUR/JPY would also be no exception.

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