EURUSD: The reality on the EURUSD chart brings two possibilities: either this is a temporary pullback or the beginning of a new downtrend. This is a bone of contention among traders, but the Bearish Confirmation Pattern on the chart shows that it is not sensible to buy long on this weak pair.
USDCHF: The Bullish bias on the chart shows that the price is most likely to continue trending upwards this week. There may, however, be some transitory pullbacks along the way, which may not take the price below the support levels of 0.9050 and 0.9000. The price may ultimately reach the resistance level of 0.9200 this week.
GBPUSD: The Cable will easily reach the accumulation territory of 1.5900, after which the territory may be overcome, as the price falls to the downside. It may be possible for the price to experience some upwards bounce at the aforementioned level, which would be temporary in the face of this weak market.
USDJPY: This trading instrument closed at 98.68 on Friday (November 1, 2013). The price may easily reach the supply level of 99.00. Should that level be overcome, the next price target would be the supply level of 99.50. But it is unlikely that the price would touch the great psychological level of 100.00 this week.
EURJPY: This cross closed at 133.58 on Friday, having trended seriously downwards last week. The present upwards bounce in the market proffers a wonderful offer to sell short when the price rallies and in the context of a downtrend. This would, nevertheless, be valid only if the price does not go above the supply zone of 134.00.
USDCHF has pulled back from the resistance level of 0.9150. The price is now challenging the support level of 0.9100.
EURUSD: This pair has bounced upwards from the support line of 1.3450, but this is supposed to be a rally in the context of an uptrend. The rally should not go beyond the resistance line of 1.3600 (in an extreme case), otherwise the extant bearish outlook would be put in jeopardy.
USDCHF: USDCHF has pulled back from the resistance level of 0.9150. The price is now challenging the support level of 0.9100. Generally, this should be a correction which proffers a good opportunity to go long at better prices. It is assumed that the price would go upwards again to test the resistance level of 0.9150.
GBPUSD: The Cable is also having a Bearish Confirmation Pattern on the chart, and as such, the current rally on it could be contained at the distribution territory of 1.6000, and ultimately the price would go back downwards to test the accumulation territory of 1.5900, which could be possible be breached to the downside.
USDJPY: This currency instrument came down a little yesterday, but the bullish signal is still extant. The RSI period 14 is considered of as being above the level 50, while the price itself is above the EMA 50. Normally, the current correction should not take the price below the demand level of 98.00, for the present outlook to continue to be valid.
EURJPY: This cross is bearish in outlook. Isnât it strange that some JPY pairs are bearish while some are bullish? In recent weeks, volatility, turbulence, struggle between buyers and sellers, plus indecision in prices, have taken over the markets. There is now no long-term directional movement on the JPY pairs. But as it is mentioned earlier, the EURJPY cross is bearish.
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Last week, the USDCHF almost tested the resistance level of 0.9250 twice. The price, which is bullish, would still likely test the resistance level again this week and possibly overcome it.
EURUSD: This pair closed at 1.3368 on Friday, having tested the support line of 1.3300 once in the last week. That support line would be tested and even be overcome this week, especially in the face of the current bearish bias. The long-term target is at the support line of 1.3200.
USDCHF: Last week, the USDCHF almost tested the resistance level of 0.9250 twice. The price, which is bullish, would still likely test the resistance level again this week and possibly overcome it. This is clearly possible because the market is in a Bullish Confirmation Pattern at the present.
GBPUSD: On this currency pair, the distribution territory of 1.6100 has become a formidable barrier to the bullsâ interests. There have also been serious market activities between the aforementioned distribution territory and the accumulation territory of 1.6000. This week, the price would break above or below either of the two territories in order to resume the next directional movement.
USDJPY: The USDJPY is a bull market with lots of turbulence and volatility on it. The price, which closed at 99.05 on Friday, is essentially a bull market. The price would thus test the supply level of 99.50, although the long-term target is at the supply level of 100.00.
EURJPY: This cross is still bearish to some extent. The bias last week (and this week has been bearish). From the demand zone of 131.50, the price bounced upwards by over 100 pips. This is really an opportunity for the bears to go short, selling the rally in the context of a downtrend.
In a strong bullish bias, the USDJPY has moved upwards by over 70 pips this week. The price is currently trading above the demand level of 99.50 (which was an intermediate target for Monday), going towards the supply level of 100.00.
EURUSD: There is still a Bearish Confirmation Pattern on the EURUSD, and the price is trading below the resistance line of 1.3400. Ultimately, and despite the current turbulent cum volatility in the market, the price would end up testing the support line of 1.3300 today or tomorrow.
USDCHF: This is a bull market. Since the bullish signal was generated at the end of October 2013, the price has moved upwards by over 220 pips. Trading above the support level of 0.9200, the pair may move upwards toward the resistance level of 0.9250. It may even breach it to the upside.
GBPUSD: the Cable is now weak and there is a barrier to the northward attempt at the distribution territory of 1.6000. The price is rotating around the market territory of 1.5950. Should that place be breached to the downside, the next target for the bears would be the accumulation territory of 1.5900.
USDJPY: In a strong bullish bias, the USDJPY has moved upwards by over 70 pips this week. The price is currently trading above the demand level of 99.50 (which was an intermediate target for Monday), going towards the supply level of 100.00. Although the supply level of 100.00 is a great psychological area, it would be violated when the bullish trend continues.
EURJPY: The price on this currency instrument is now trading above the EMA 56 (the RSI period 14 itself has crossed above the EMA 56). The bullish retracement is currently strong, but one would need to wait for the EMA 11 to cross the EMA 56 before one goes long.
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The Cable is now trading above the accumulation territory of 1.6100, in what is called a bullish mode. This week, the price may reach the distribution territory of 1.6200, even possibly breaching it to the upside.
EURUSD: There is not yet a clear signal on the EURUSD, but it is much more likely that the price is poised for a renewed upward journey. When the condition for a bullish signal is met, you would see the price trading above the EMA 56 and the EMA 11 has also crossed the EMA 56 to the upside.
USDCHF: There is not yet a clear signal on the USDCHF, but it is much more likely that the price is poised for a renewed downward journey. When the condition for a bearish signal is met, you would see the price trading below the EMA 56 and the EMA 11 has also crossed the EMA 56 to the downside. But right now, it is not safe to go short until the above condition is met. Should there be any failure in meeting the above condition, then the price may bounce upwards.
GBPUSD: The Cable is now trading above the accumulation territory of 1.6100, in what is called a bullish mode. This week, the price may reach the distribution territory of 1.6200, even possibly breaching it to the upside.
USDJPY: This currency trading instrument closed at 100.21 on Friday (also in a bullish mode). The supply level at 100.50 is an easy target for the bulls, plus the demand level at 101.00 is also a possible target for this week.
EURJPY: This market trended very strongly last week, closing at 135.17. At that price zone, some may think that the price has long been overbought. But the price is not overbought if the bulls are still interested to purchase the EURJPY at that price zone, for the market might still go further upwards this week.
The perpetual southward movement on the USDCHF has resulted in a renewed bearish signal. The price may break the support level of 0.9100 to the downside.
EURUSD: The slow and tardy bullish movement on the EURUSD has resulted in a clean bullish signal in the market. This is a result of the perpetual northward bias that has been resumed since the last week. The resistance line of 1.3600 could soon be breached to the upside â today or tomorrow.
USDCHF: The perpetual southward movement on the USDCHF has resulted in a renewed bearish signal. The price may break the support level of 0.9100 to the downside. There is now a Bearish Confirmation Pattern on the chart (the EMA 11 is below the EMA 56, while the Williamâs % Range is not too far from the oversold region).
GBPUSD: This currency instrument is, surprisingly, a bullish market. This is in contrast with the scenario on the EURUSD, which ought to be in a positive correlation with the Cable. The only thing that can render the bullish bias invalid is a situation in which the market is trading below the accumulation territory of 1.6000. Without this, it remains safe to call this a bull market; no matter what the bears do, which may cause crazy volatility.
USDJPY: This market is trying to pull back in a context of an uptrend. So far, the dominant bias has been bullish, but the market has been trending lower since Monday. The RSI period 14 is already below the level 50, but the price is yet to cross the EMA 56 to the downside, which is the only thing that can jeopardize the chances of the bulls.
EURJPY: The cross is also bullish in the long term, but bearish in the intermediate term. As long as the price is above the demand zone of 134.00, it cannot be said that the bias has really turned bearish. The price may turn northward anytime.
Performed by Azeez Mustapha,
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The conditions on the market are favorable to trend-followers, especially in the face of new signals and directional movements that are currently happening. For instance, the USDCHF has assumed a strong southward bias and the price could reach the support level of 0.9000 this week.
EURUSD: The EURUSD has assumed a strong northward bias and the price could reach the resistance line of 1.3700 this week. This is possible because the EMA 11 has crossed the EMA 56 to the upside while the Williamsâ % Range gallivants in the overbought territory, showing the strength of the bulls.
USDCHF: The conditions on the market are favorable to trend-followers, especially in the face of new signals and directional movements that are currently happening. For instance, the USDCHF has assumed a strong southward bias and the price could reach the support level of 0.9000 this week
GBPUSD: On this pair, we have a Bullish Confirmation Pattern. The market moved upward by over 110 pips last week, closing at 1.6224. There is still much room for the price to go north, only that there could be some pullbacks along the way, which ought not to take the price below the accumulation territory of 1.6100 in worst cases.
USDJPY: Here too, the market is bullish. Yes, this is a bull market and the price would eventually test the supply level of 102.00, even possibly overcoming it. The great psychological demand level of 100.00 would act as a long-term barrier to the bearsâ effort, for the price may not break that area to the downside in spite of the corrections that may happen in the course of this bullish journey.
EURJPY: This cross trended significantly upwards last week, moving upwards by more than 200 pips before closing at 137.29 on Friday. Since the bullish signal was generated a few weeks ago, the market has moved upwards by more than 610 pips. A great ride indeed!
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The EURJPY has almost challenged the high of 138.00, which is a very strong supply zone. The price has been corrected downwards from that supply zone, although the dominant bias remains bullish.
EURUSD: In spite of the visible consolidation in the market, the bullish propensity on the market is a valid thing. The price is above the EMA 56 (and effectively above the support line of 1.3500). As long as the price remains above that support line, the bullish trend is intact.
USDCHF: In spite of the visible consolidation in the market, the bearish propensity on the market is a valid thing. The price is below the EMA 56 (and effectively below the resistance level of 0.9150). As long as the price remains below that resistance level, the bearish trend is intact. This means that there is likelihood that the price may break the nearest support level of 0.9100 to the downside very soon.
GBPUSD: The Cable currently shows mixed signals: the price is still above the EMA 56, but the RSI period 14 has crossed the level 50 to the downside. One may need to look for a clearer signal here before taking a position. Normally, it would not be thought that the bears have taken a complete control when the price is still above the accumulation territory of 1.6100.
USDJPY: The normal target for the USDJPY is the supply level of 102.00 which was almost tested before the price turned south. As it can be seen that the Bullish Confirmation Pattern on the chart is intact, the price may go back upwards to challenge the aforementioned supply level.
EURJPY: The EURJPY has almost challenged the high of 138.00, which is a very strong supply zone. The price has been corrected downwards from that supply zone, although the dominant bias remains bullish.
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Most JPY pairs seem overbought and it looks like there could be some reversals soon. Yes, there could be reversals this week, but the markets may still go further upwards, especially if there are certain bulls who are interested in going long at the current prices.
EURUSD: This is a bull market â slow and steady in nature. The tardy movement brought the price to the resistance line of 1.3600, before the price closed at 1.3590 on Friday. The current reversal in the market is weak and it is not supposed to take the price below the support line of 1.3500, before the market resumes its upwards journey from there.
USDCHF: This is a bear market â slow and steady in nature. The tardy movement brought the price to the support line of 0.9050, before the price closed at 0.9075 on Friday. The current reversal in the market is weak and it is not supposed to take the price above the support line of 0.9100, before the market resumes its downwards journey from there.
GBPUSD: The Cable should continue going upwards this week, reaching the distribution territory of 1.6400. There is a Bullish Confirmation Pattern on the chart which supports this outlook.
USDJPY: Most JPY pairs seem overbought and it looks like there could be some reversals soon. Yes, there could be reversals this week, but the markets may still go further upwards, especially if there are certain bulls who are interested in going long at the current prices. Thus, in spite of the possible reversal along the way, the USDJPY may reach the supply level of 103.00 this week.
EURJPY: This market has been trending upwards by more than 750 pips (since the bullish signal was generated earlier this week). There were reversals along the way, and the probable reversals that are coming should not be a surprise. It is possible for the price to test the supply zone of 140.00 soon, and possibly breach it to the upside.
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In the context of an uptrend, the USDJPY has experienced a pullback. Nevertheless, the pullback is expected to be transient.
EURUSD: The market is in a kind of consolidation, though the bullish domination is still very clear. When the price does rally again, it would easily break the resistance line of 1.3600 to the upside, while it goes further upwards towards the resistance line of 1.3650. At this time, the Williamsâ % Range is coming out of its oversold territory.
USDCHF: The market is in a kind of volatility (with upswings that are followed closely by downswings), though the bearish domination is still very clear. When the price does dip again, it would easily break the support level of 0.9050 to the downside, while it goes further downwards towards the support level of 0.9000. At this time, the Williamsâ % Range is coming out of its overbought territory.
GBPUSD: The GBPUSD is currently rallying in spite of the pullback it experienced on Monday. The Bullish Confirmation Pattern on the chart remains intact; and the price could challenge the distribution territory of 1.6450, even possibly overcoming it. There is a barrier to the wishes of the bears at the accumulation territory of 1.6300.
USDJPY: In the context of an uptrend, the USDJPY has experienced a pullback. Nevertheless, the pullback is expected to be transient. Some speculators prefer to put their stops at the demand level of 102.00 for this week. As long as the price stays above that level, the bulls reign.
EURJPY: The currency trading instrument here too is having a bullish bias â something that has been going on for weeks. There would often be pullbacks along the way, and therefore, the current pullback is simply a temporary pause in the bullish momentum.
Performed by Azeez Mustapha,
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Last week, the directional forecasts on the EURUSD and the USDCHF were correct. For example, the USDCHF trended downwards by over 140 pips, closing at 0.8917.
EURUSD: The EURUSD, which has been bullish for more than 2 weeks, has been able to maintain its bullish stance in spite of the initial upswings and downswings within the limitation of some overall stabilization. Last week was ended with some smooth and predictable journey upwards. This week would not be different.
USDCHF: Last week, the directional forecasts on the EURUSD and the USDCHF were correct. For example, the USDCHF trended downwards by over 140 pips, closing at 0.8917. This week, the price would easily challenge the support level of 0.8900, and possibly breach it to the downside.
GBPUSD: There are bullish reversals on the JPY pairs, and directional movements on most major pairs, including exotic crosses. However, the Cable seems unaffected by this, as it continues to consolidate to the downside. There are mixed signals on the chart â with neither the bulls nor the bears winning. It is better to stay out of the market until it becomes predictable again.
USDJPY: This pair dropped below the demand level of 102.00 last week, but it could not stay below that level. Therefore, the price bounced seriously upwards from that level by over 100 pips. Right now, the bullish scenario in the market has been re-confirmed again. The price would test the supply level of 103.50 this week.
EURJPY: Here too, this cross would have broken the price zone of 141.00 to the upside by the time this forecast is published. The ultimate target for this week is the supply zone of 142.00. The bias has always remained bullish.
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The JPY pairs are strongly bullish, breaking new highs and supply zones. This outlook may continue this week, but there may be some fleeting bearish corrections along the way.
EURUSD: This pair has moved upwards by over 46 pips this week, in what could be called a slow and steady bullish journey. The Bullish Confirmation Pattern on the chart is a testimony that the bias may continue, though there may be pullbacks along the way. The price may reach the resistance line of 1.3800.
USDCHF: The USDCHF ought to continue its weakness as long as the EURUSD maintains its strength. This pair has moved upwards by over 25 pips this week, in what could be called a slow and steady bearish journey. The Bearish Confirmation Pattern on the chart is a testimony that the bias may continue, though there may be rallies along the way. The price may reach the support level of 0.8850.
GBPUSD: The Cable, which moved largely sideways last week, has now assumed a predictable upward movement. This is also confirmed by the indicators on the chart. The distribution territory at 1.6500 would soon be challenged as the price leaves current market territory of 1.6450, which has already been pummeled.
USDJPY: The JPY pairs are strongly bullish, breaking new highs and supply zones. This outlook may continue this week, but there may be some fleeting bearish corrections along the way. As a result of this, the USDJPY itself is in a bullish mode, reaching for the high of 103.50. This is a good thing for trend followers.
EURJPY: Since early November 2013, this cross has moved upwards by more than 1050 pips. Congratulations trend followers! While some expect reversals soon, their expectation may turn out to be a temporary experience, for the market can still go further higher.
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InstaForex Companies Group
The protracted bearish correction on the GBPUSD has finally become a bearish signal. From the distribution territory of 1.6450, the price has dropped by over 150 pips.
EURUSD: It seems this pair may not be able to go above the resistance line of 1.3800, especially in the face of a current lease of strength in the USD. However this view may not be valid as long as the price is able to stay above the support line of 1.3700, otherwise, one would need to switch to the side of the bears.
USDCHF: It seems this pair may not be able to go below the support level of 1.8850, especially in the face of a current lease of strength in the USD. However this view may not be valid as long as the price is able to stay below the resistance level of 1.8950, otherwise, one would need to switch to the side of the bulls.
GBPUSD: The protracted bearish correction on the GBPUSD has finally become a bearish signal. From the distribution territory of 1.6450, the price has dropped by over 150 pips. The EMA 11 has crossed the EMA 56 to the downside, and the RSI period 14 has crossed the level 50 to the downside. It is high time one switched oneâs position to the side of the bears.
USDJPY: The USDJPY is a bull market â irrespective of the bearish threats that are present on it. As long as the price is able to stay above the demand level of 102.00, the bullish bias can still be mentioned of as being valid.
EURJPY: This cross is also a bull market â irrespective of the bearish threats that are present on it. As long as the price is able to stay above the demand zone of 140.00, the bullish bias can still be mentioned of as being valid. Should the price go below that demand zone, then one would need to switch to the side of the bears.
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The EURJPY pulled back last week and is currently being stabilized. The Bullish Confirmation Pattern is still valid on the chart, and when there is a breakout again, it might be in favor of the bullsâŚ
EURUSD: Despite the failure to breach it in recent times, this pair is going again towards the resistance line of 1.3800. The resistance line may be eventually challenged and possibly overcome to the upside, especially with the continuation of the dominant buying pressure on in the market.
USDCHF: Despite the failure to breach it in recent times, this pair is going again towards the support level of 0.8850. The support level may be eventually challenged and possibly overcome to the downside, especially with the continuation of the dominant selling pressure on in the market.
GBPUSD: In contrast to what the EURUSD is doing, the Cable (which ought to be in a positive correlation with it), is now in a negative correlation with it. However, the bears need to be cautious here; because the southward attempts of the price would be sensible only when the price is below the EMA 56. Anything that pushes the price above the EMA 56 or makes the RSI period 14 go above the level 50 would render the bearish signal invalid.
USDJPY: This currency instrument is also experiencing some price stabilization right now. The bullish outlook remains sensible â though under some threat. Given the position of the RSI, it is better to wait for it to cross the level 50 to the upside before one goes long.
EURJPY: The EURJPY pulled back last week and is currently being stabilized. The Bullish Confirmation Pattern is still valid on the chart, and when there is a breakout again, it might be in favor of the bullsâŚ
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The USDJPY moved upwards by over 170 pips last week, challenging the supply zone of 104.50 before retracing southward. The southward retracement would be temporary, for the price would soon trade further upwards.
EURUSD: This pair gave a bearish signal last week â something that is still valid. There has been some rally in the context of a downtrend (in the face of the extant Bearish Confirmation Pattern). Bullish threats seem to have been rejected at the resistance line of 1.3700; a point from which the price could plummet further.
USDCHF: This pair gave a bullish signal last week â something that is still valid. There has been some rally in the context of a downtrend (in the face of the extant Bullish Confirmation Pattern). Bearish threats seem to have been rejected at the support level of 0.8950; a point from which the price could rise further.
GBPUSD: This market was rough for most of the last week, giving no directional signal in favor of bears or bulls. For instance, the EMAs are in support of the bulls but the RSI period 14 is in support of the bears. Although it is more likely that the price would ultimately go in favor of the bears when a breakout occurs in the market, it would be wise to stay away until a clearer signal is generated.
USDJPY: The USDJPY moved upwards by over 170 pips last week, challenging the supply zone of 104.50 before retracing southward. The southward retracement would be temporary, for the price would soon trade further upwards.
EURJPY: Since a bullish signal was generated here in early November 2013, the cross has moved upwards by over 740 pips. However, this is not without some maniacal upswings and downswings in the price, whereas downswings tend to give opportunities to go long at better prices. The bias for this week remains bullish. The price closed at 142.32 on Friday.
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The USD/JPY has maintained its bullish bias and would likely test the supply level at 104.50 again. Eventually, it is hoped that the supply level would be overcome and breached to the upside.
EUR/USD: The bias here is bearish and the upswing in the Williamsâ % Range shows that the current northward attempt, though shallow, offers a good shorting opportunity. When this does happen, there would be another downswing in the Williamsâ % Range. There would be short-term selling pressure.
USD/CHF: The bias on the USD/CHF is bullish and the downswing in the Williamsâ % Range shows that the current southward attempt, though shallow, offers a good purchasing opportunity. When this does happen, there would be another upswing in the Williamsâ % Range. There would be short-term buying pressure on this pair.
GBP/USD: The bias on the Cable remains unclear. The price has been ranging seriously in recent days, being accompanied by mixed signals in the chart. For example, the RSI shows a possibility of bearsâ domination, while the EMAs support the bulls. It is better to remain neutral here until there is a clear directional signal.
USD/JPY: The USD/JPY has maintained its bullish bias and would likely test the supply level at 104.50 again. Eventually, it is hoped that the supply level would be overcome and breached to the upside. Should there be any pullbacks in the price here, they would be transitory.
EUR/JPY: This currency instrument continues to trudge upwards in a slow and steady manner. Day traders may continue to harvest some pips as the Euro continues its weakness versus the Yen. The supply zone at 143.00 stands the chance of being tested as the price is very close to it.
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The USD/CHF has been able to maintain its bullish bias, though the volatility in the market is currently low. It is expected that the pair would go towards the resistance level of 0.9000 again when some strong movement occurs.
EUR/USD: The EUR/USD has been able to maintain its bearish bias, though the volatility in the market is currently low. It is expected that the pair would go towards the support line of 1.3650 again when some strong movement occurs. On a longer term basis, the price would overcome the aforementioned support line and overcome it to the downside.
USD/CHF: The USD/CHF has been able to maintain its bullish bias, though the volatility in the market is currently low. It is expected that the pair would go towards the resistance level of 0.9000 again when some strong movement occurs. On a longer term basis, the price would overcome the aforementioned resistance level and overcome it to the upside.
GBP/USD: There is now a kind of clear signal on the Cable. The signal is bullish â for the RSI period 14 is above the level 50 and the EMA 11 is now above the EMA 56. The price itself is currently showing some bullish determination and it may eventually go towards the distribution territory of 1.6400.
USD/JPY: This is also a bullish market, for there is a Bullish Confirmation Pattern in the chart. The supply level of 104.50, which was tested a few times last week, stands another chance of being tested again. With the increase in the buying pressure, the currency instrument may even overcome this supply level.
EUR/JPY: This cross is a bull market, having been moving protractedly upwards in recent times. The ultimate accomplishment now is the probability of the price breaching a new high of 143.00 to the upside.
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The GBP/USD is making an attempt to test the distribution territory at 1.6550 once again (it tested it last week). The pair would eventually succeed in testing that distribution territory, even breaking it to the upside, while going towards another distribution territory at 1.7000.
EUR/USD: On this pair, there is currently a pullback in an uptrend. This is something that can enable the bulls to get into the market at a relatively cheaper price. The price is not supposed to go below the support line of 1.3700. The eventual target is at the resistance line of 1.3900.
USD/CHF: On this pair, there is currently a rally in a downtrend. This is something that can enable the bears to get into the market at a relatively dearer price. The price is not supposed to go above the resistance level of 0.8950. The eventual target is at the support level of 0.8800.
GBP/USD: The GBP/USD is making an attempt to test the distribution territory at 1.6550 once again (it tested it last week). The pair would eventually succeed in testing that distribution territory, even breaking it to the upside, while going towards another distribution territory at 1.7000. This would happen this week or next week.
USD/JPY: It should be noted that this currency trading instrument has been bullish since October 2013, while any significant pullbacks have been booby traps for unwary speculators. Since the bullish signal was generated in October, the market has moved upwards by more than 420 pips. At the present, the pullback in the price is another opportunity to go long at a better price. The barrier to the bearsâ interest is at the demand level of 104.00.
EUR/JPY: This is a significantly bullish market, and it is understandable that there would be occasional bearish corrections and equilibrium phases. Nevertheless, the price would continue to go up.
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Interestingly, the GBP/USD has been able to stay above the accumulation territory at 1.6550 (after breaking it to the upside). The bias is bullish and the next price target is at the distribution territory of 1.7000.
EUR/USD: The first thing expected on this pair is for the price to break the resistance line of 1.3800 to the upside, before going further upwards. The EMA 11 is above the EMA 56 and the position of the Williamsâ % Range is in support of the bullish effort. In addition, there is a support to the bullish effort at the price line of 1.3700.
USD/CHF: The ultimate thing expected on this pair is for the price to break the support level of 0.8800. This is a long-term objective, because there would be some struggle between the bears and the bulls. The EMA 11 is below the EMA 56 and the position of the Williamsâ % Range is in support of the bearish effort. In addition, there is a resistance to the bullsâ machination at the price level of 0.9000. That price level is significant indeed.
GBP/USD: Interestingly, the GBP/USD has been able to stay above the accumulation territory at 1.6550 (after breaking it to the upside). The bias is bullish and the next price target is at the distribution territory at 1.7000, as forecasted earlier. The market is not currently a favorable field for the bears.
USD/JPY: This is a bull market, with a Bullish Confirmation Pattern in the chart. The supply level of 105.50 is the next target that would be reached by the price, for it would continue to go northwards, though there may be pullbacks on the way.
EUR/JPY: This cross has been going upwards: it is also a bull market. There could be bearish corrections along the way, but the price would be able to go further upwards towards the supply zone of 146.00.
Source: Forex | Online Forex Trading | Currency Trading | Forex Broker
The EUR/USD was able to reach the forecasted target at 1.3600 on Friday. The outlook for this week is bearish. The price is now trading below the resistance line at 1.3600, going towards the support line at 1.3550.
EUR/USD: The EUR/USD was able to reach the forecasted target at 1.3600 on Friday. The outlook for this week is bearish. The price is now trading below the resistance line at 1.3600, going towards the support line at 1.3550. It should be noted that the aforementioned resistance line would act as a near-term barrier any bullish threats.
USD/CHF: The USD/CHF was able to reach the forecasted target at 0.9000 on Friday. The outlook for this week is bullish. The price is now trading above the support level at 0.9000, going towards the resistance level at 0.9100. It should be noted that the aforementioned support level would act as a near-term barrier any bearish threats.
GBP/USD: It should not be forgotten that it was advised that one should wait for the EMAs to support the new bearish stance on this market. The RSI period 14 has crossed the level 50 to the downside, but it is much safer for the price to go below the accumulation territory of 1.6400 before on switches to a southward position, otherwise this may be a bogus signal.
USD/JPY: What is happening on this currency trading instrument is a little bit surprising. The reality is that both the market and the indicators have gone bullish. Eventually, the price would close above the EMA 56, as the price heads towards the supply level at 105.00, breaks it to the upside and goes towards another supply level at 105.50.
EUR/JPY: The cross has gone bearish (the EMA 11 has crossed the EMA 56 to the downside, and the RSI period 14 has crossed the level 50 to the downside). The price has tested the demand zone at 142.00 a few times and would soon cross it to the downside.
Source: www.instaforex.com