Instaforex Trading Forecasts

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407

Daily analysis of major pairs for June 19, 2017

The GBP/USD is a volatile market, and price did not a make a significant directional bias last week. This has forced the market to enter a neutral bias in the short-term. There would be an end to the neutral bias when the accumulation territory at 1.2600 is breached to the downside, or the distribution territory at 1.2900 is breached to the upside. As long as one of these things does not happen, the bias would remain neutral.

EUR/USD: This pair moved sideways last week – in the context of an uptrend. The outlook on EUR pairs is bearish for this week, and this may make the EUR/USD go southwards, causing a bearish bias to form in the market. Further southwards movement is thus expected.

USD/CHF: Last week, the USD/CHF consolidated in the context of a downtrend, with price making a faint bullish effort in the last few days of the week. The outlook on the market is bullish for this week, and this could put an end to the bearish bias, especially as price goes above the resistance level at 0.9900. Two factors would help realize the bullish outlook: When the EUR/USD drops, the USDCHF would be helped upwards. Then CHF itself could become somewhat weak this week, and that may help USD to the upside.

GBP/USD: The GBP/USD is a volatile market, and price did not a make a significant directional bias last week. This has forced the market to enter a neutral bias in the short-term. There would be an end to the neutral bias when the accumulation territory at 1.2600 is breached to the downside, or the distribution territory at 1.2900 is breached to the upside. As long as one of these things does not happen, the bias would remain neutral.

USD/JPY: This currency trading instrument made attempts to go upwards on Thursday and Friday, but that did not override the bearish outlook on the market. Rally attempts should be disregarded, for that could turn out to be short-selling opportunities, for the outlook on JPY pairs is also bearish for this week.

EUR/JPY: The bias in the EUR/JPY cross remains bullish in spite of the threats to it. The cross closed above the demand zone at 124.00 on Friday, and it may even reach the supply zones at 124.50 and 125.00. However, the market is not expected to trade upwards significantly. Once the market drops below the demand zone at 121.00, the bias on the market would turn bearish. Any gains of stamina on the Yen would cause the market to shoot downwards.

Source: www.instaforex.com

408

Daily analysis of major pairs for June 20, 2017

There is a clean bullish signal on the USD/JPY. Price went higher on Monday and it is now above the demand level at 111.50. More bullish movement is anticipated as price goes towards the supply level at 112.00. The supply level could even be exceeded before price later turns bearish before the end of this month.

EUR/USD: There is a bearish signal on the EUR/USD – with a Bearish Confirmation Pattern in the market. This is in accordance with the forecast for this week, for price could go downwards by over 200 pips within the next few days. Some weakness could also happen on certain EUR pairs.

USD/CHF: There is a bullish signal on the USD/CHF – with a Bullish Confirmation Pattern in the market. This is in accordance with the forecast for the week, for price could go upwards by over 200 pips within the next few days. The EUR/USD would go down and help the USD/CHF upwards. CHF is also expected to be weak versus USD.

GBP/USD: The Cable is currently showing some weakness, and further bearish movement is possible as price goes into the accumulation territories at 1.2700, 1.2650 and 1.2600. Unless the distribution territory at 1.3000 is breached to the upside, any rallies in this market should be ignored.

USD/JPY: There is a clean bullish signal on the USD/JPY. Price went higher on Monday and it is now above the demand level at 111.50. More bullish movement is anticipated as price goes towards the supply level at 112.00. The supply level could even be exceeded before price later turns bearish before the end of this month.

EUR/JPY: This cross has gone upwards by 55 pips this week, having gone upwards by 200 pips since June 15. There is a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is possible as price goes towards the supply zones at 125.00 and 125.50.

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

409

Daily analysis of major pairs for June 26, 2017

The EUR/JPY cross has been able to maintain the bullish bias it started on June 15. Price tested the demand zone at 123.50, and then was able to go above the demand zone at 124.50. This has revealed a bullish intent, and price could go further upwards. However, the upwards movement may not be so serious because of a possibility of a smooth bearish run before the end of the week.

EUR/USD: The bias on the EUR/USD has become neutral because price did not do anything significant last week. There was generally a movement between the support line at 1.1100 and the resistance line at 1.1250. There must be a movement above the aforementioned resistance line or below the support line. A movement above the resistance line is the most likely for this week.

USD/CHF: This pair remains essentially a bear market. The bearish signal that started in May 2017 is still in place, and further bearish movement is anticipated, especially when the EUR/USD goes upwards. The targets for this week are located at the support levels at 0.9650 and 0.9600.

GBP/USD: This weak currency trading instrument went downwards in the first few trading days of last week, to test the accumulation territory at 1.2600, before bouncing upwards to close above the accumulation territory at 1.2700 on Friday. That upwards bounce could end up becoming a good opportunity to go short, because the market could turn downwards to test the accumulation territories at 1.2700, 1.2650 and 1.2600 this week (these are the targets, since those accumulation territories were also previously tested last week). The outlook on GBP pairs remains bearish for the week.

USD/JPY: This pair has become neutral, because price could not continue going upwards to sustain the generation of the bullish signal, which took place on June 15. In fact, price simply went sideways last week, preparing to break out upwards or downwards (downwards is more probable, because the outlook on JPY pair remains bearish for this week).

EUR/JPY: The EUR/JPY cross has been able to maintain the bullish bias it started on June 15. Price tested the demand zone at 123.50, and then was able to go above the demand zone at 124.50. This has revealed a bullish intent, and price could go further upwards. However, the upwards movement may not be so serious because of a possibility of a smooth bearish run before the end of the week.

Source: www.instaforex.com

410

Daily analysis of major pairs for June 27, 2017

The EUR/JPY cross has been going upside, forming a Bullish Confirmation Pattern in the market. Price has gained gone further upwards this week, and it could go further upwards today and tomorrow. There are bullish targets at the supply levels of 125.50, 126.00 and 126.50, which are expected to be reached.

EUR/USD: The EUR/USD did nothing significant on Monday. There has generally been a movement between the support line at 1.1100 and the resistance line at 1.1250. There must be a movement above the aforementioned resistance line or below the support line. A movement above the resistance line is the most likely for this week.

USD/CHF: This market has been moving sideways since last week, and the bias is neutral in the short-term (in the context of a major downtrend). There is a possibility that volatility would rise in the market before the end of this week, or at the beginning of another week. This direction would then be determined by whatever happens to the EUR/USD.

GBP/USD: The Cable did nothing noteworthy yesterday, although it bounced upwards in the last few days of last week. That upwards bounce could end up becoming a good opportunity to go short, because the market could turn downwards to test the accumulation territories at 1.2700, 1.2650 and 1.2600 this week.

USD/JPY: There is now a bullish signal on this currency trading instrument. Price has gone above the demand level at 111.50, and it has tested the supply level at 112.00. The supply level is expected to be breached to the upside as price goes further north. It looks like the bearish expectation for the month of June is over.

EUR/JPY: The EUR/JPY cross has been going upside, forming a Bullish Confirmation Pattern in the market. Price has gained gone further upwards this week, and it could go further upwards today and tomorrow. There are bullish targets at the supply zones of 125.50, 126.00 and 126.50, which are expected to be reached.

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

411

Daily analysis of major pairs for July 3, 2017

The GBP/USD gained about 340 pips last week, closing above the accumulation territory at 1.3000 (which was our target for last week). It is possible that price would continue going upwards this week, but the upwards movement would not be much, owing to a bearish outlook on GBP pairs for this week and for the month of July 2017.

EUR/USD: This pair moved upwards by 230 pips last week, ending the consolidation phase that was witnessed from June 12 to June 24. There is a huge Bullish Confirmation Pattern in the market, and further upwards movement is possible. However, the upwards movement may not take place protractedly because the outlook on EUR pairs is bearish for this week. The EUR/USD may thus slide southwards before the end of the week.

USD/CHF: The USD/CHF dropped precipitously last week, losing about 160 pips. Price almost tested the support level at 0.9550, before bouncing upwards to close near the resistance level at 0.9600. There is a bearish bias on the market, though that may change soon as the EUR/USD slides southwards, helping the USD/CHF to rally.

GBP/USD: The GBP/USD gained about 340 pips last week, closing above the accumulation territory at 1.3000 (which was our target for last week). It is possible that price would continue going upwards this week, but the upwards movement would not be much, owing to a bearish outlook on GBP pairs for this week and for the month of July 2017.

USD/JPY: Since June 14, this currency trading instrument has been going upwards slowly and gradually, gaining about 350 pips since then. The supply level at 112.50 was tested but price could not close above that level. This week, there is a great possibility of a bearish run, because the outlook on JPY pairs is seriously bearish for this week and for July 2017.

EUR/JPY: Unlike its USD/JPY counterpart, which moved upwards slowly and gradually, the EUR/JPY moved upwards significantly and rapidly. Price took off from the demand zone at 124.50, reaching the supply zone at 128.50 (a movement of 400 pips). Short trades are not currently advised here, owing to a big Bullish Confirmation Pattern in the market. Nonetheless, there would soon be a deep correction in the market – as a result of the bearish outlook on JPY pairs for July – and that is when short trades would make some sense.

Source: www.instaforex.com

412

Daily analysis of major pairs for July 4, 2017

The USD/JPY made further bullish movement on Monday, but it is now engaged in a shallow bearish correction, which may turn out to be another good opportunity to go for a short-term bullish signal. There is a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is a possibility (although the outlook on JPY pairs is bearish for this month).

EUR/USD: The EUR/USD traded lower yesterday, and it has continued doing so today. However, the major bias on the market remains bearish, owing to the strong northwards breakout that was seen last week. There cannot be a change in the bias on the market (to bearish), as long as price does not go below the support line at 1.1200.

USD/CHF: Since the beginning of this week till now, the USD/CHF has gone upwards by more than 70 pips, against the dominant bearish bias. Price is now above the support level at 0.9650, going towards the resistance level at 0.9700. As soon as price goes above the resistance level at 0.9800, the bearish bias would be over.

GBP/USD: Since the beginning of this week, the Cable has been gradually corrected downward. It is possible that price would continue going upwards this week (owing to the dominant bullish outlook), but the upwards movement would not be much, as a result of a bearish outlook on GBP pairs for this week and for the month of July 2017.

USD/JPY: The USD/JPY made further bullish movement on Monday, but it is now engaged in a shallow bearish correction, which may turn out to be another good opportunity to go for a short-term bullish signal. There is a Bullish Confirmation Pattern in the 4-hour chart, and further bullish movement is a possibility (although the outlook on JPY pairs is bearish for this month).

EUR/JPY: Since Monday till now, the EUR/JPY cross has not done much, though a bullish signal remains in place. Short trades are not currently advised here, owing to a big Bullish Confirmation Pattern in the market. Nonetheless, there would soon be a deep correction in the market – as a result of the bearish outlook on JPY pairs for July – and that is when short trades would make some sense.

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

413

Daily analysis of major pairs for July 10, 2017

The market moved sideways in the first few days of last week, before moving further upwards. Since June 15, the market has gained about 740 pips, closing close to the supply zone at 130.00 on Friday. Once the supply zone is breached to the upside, price would target other supply zones at 130.50, 131.00 and 131.50. There is also a possibility of a reversal, but that would not happen as long as EUR is strong.

EUR/USD: This pair got corrected lower from Monday to Wednesday and then moved upwards on Thursday, to close just below the resistance line at 1.1400 on Friday. The outlook on the EUR/USD is bullish for this week, and further bullish movement may help price attain additional resistance lines at 1.1450, 1.1500 and 1.1550.

USD/CHF: This pair made some bullish effort in the first few days of last week, but that was not significant enough to result in invalidation of the extant bearish bias. Price was corrected lower on Thursday to emphasize the presence of bears. The outlook on USD is bearish for this week, and as long as the EUR/USD goes up, the USD/CHF cannot be expected to come down.

GBP/USD: The GBP/USD is bearish in the shorter-term and bullish in the longer-term. Price lost about 110 pips, to close below the distribution territory at 1.2900. This week, there is a strong bullish outlook on GBP pairs, and as such, the Cable could rally strongly, reaching the distribution territories at 1.2900, 1.2950 and 1.3000, which were all previously attained. The market could even go beyond those distribution territories.

USD/JPY: Since June 14, the USD/JPY has gained about 510 pips, moving upwards perpetually. Price is now close to the supply level at 114.00, and it would soon be breached to the upside, owing to the strong Bullish Confirmation Pattern in the 4-hour chart. The initial targets this week are located at the supply levels of 114.50 and 115.00. However, that does not rule out an eventual bearish run, since the outlook for this month is bearish.

EUR/JPY: The market moved sideways in the first few days of last week, before moving further upwards. Since June 15, the market has gained about 740 pips, closing close to the supply zone at 130.00 on Friday. Once the supply zone is breached to the upside, price would target other supply zones at 130.50, 131.00 and 131.50. There is also a possibility of a reversal, but that would not happen as long as EUR is strong.

Source: www.instaforex.com

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414

Daily analysis of major pairs for July 11, 2017

The EUR/JPY is in a bullish mode, though nothing significant happened on Monday. The market is supposed to move upwards strongly this week, just as it has done in the past few weeks. The supply zones at 130.50, 140.00 and 140.50 could be reached, after some volatility returns to the market.

EUR/USD: The EUR/USD did nothing significant. The outlook on the EUR/USD is bullish for this week, and further bullish movement may help price attain additional resistance lines at 1.1450, 1.1500 and 1.1550.

USD/CHF: The constant bullish effort on the USD/CHF has at last, resulted in a “buy” signal in the market. There is now a strong bullish indication as price goes above the support level of 0.9650, going towards the resistance level at 0.9700 (having gained about 40 pips on Monday). Any show of weakness on the EUR/USD would send the USD/CHF skywards.

GBP/USD: The GBP/USD is bearish in the shorter-term, and the increasing short-term weakness has already resulted in a “buy” signal in the market. Price is below the distribution territory at 1.2900, going towards the accumulation territory at 1.2850. This accumulation territory could be temporarily exceeded before there is a reversal.

USD/JPY: Since June 14, a gain of over 500 pips has been made. This currency trading instrument has gone further upwards this recently, going above the demand level at 114.00 and going towards the supply level at 114.50 (the initial target). Another target after this is the supply level at 115.00.

EUR/JPY: The EUR/JPY is in a bullish mode, though nothing significant happened on Monday. The market is supposed to move upwards strongly this week, just as it has done in the past few weeks. The supply zones at 130.50, 140.00 and 140.50 could be reached, after some volatility returns to the market.

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

415

Daily analysis of major pairs for July 17, 2017

The EUR/JPY moved downwards last week, in the context of an uptrend. Price first went upwards to test the supply zone at 130.50, before it got corrected by 180 pips. The demand zone at 128.50 has tried to halt further correction, but price may break below it as it goes further southwards, thus invalidating the uptrend.

EUR/USD: This pair has been able to maintain its bullishness so far; though price went in a zigzag manner. The pair closed above the support line of 1.1450 on July 14, now targeting the resistance line at 1.1500 (the initial target for the week). As soon as price exceeds the resistance line, it would go upwards to target additional resistance lines.

USD/CHF: This market is neutral in the short-term and bearish in the long-term. The neutrality in the market would continue as long as price does not go above the resistance level at 0.9750; and as long as it does not go below the support level at 0.9550. A movement above the aforementioned resistance level would result in a bullish bias, while a movement below the support level at 0.9550 would strengthen the current bearish bias.

GBP/USD: The GBP/USD moved sideways early last week, and it shot seriously skywards in the last few days of the week. The distribution territory at 1.3100 has been tested and it would soon be breached to the upside, for price can move further upwards by 200 pips this week. The outlook on certain other GBP pairs is also bullish.

USD/JPY: The movement on this currency trading instrument was bearish last week, and that has become a threat to the recent bullish bias. Only an upwards movement from here would save the bullish bias. A movement below the demand level at 111.50 would invalidate the recent bullish bias, creating a clear “sell” signal. That is the expectation for this week.

EUR/JPY: The EUR/JPY moved downwards last week, in the context of an uptrend. Price first went upwards to test the supply zone at 130.50, before it got corrected by 180 pips. The demand zone at 128.50 has tried to halt further correction, but price may break below it as it goes further southwards, thus invalidating the uptrend. It should be borne in mind that the outlook on JPY pairs is bearish for July.

Source: www.instaforex.com

416

Daily analysis of major pairs for July 18, 2017

The EUR/USD has moved upwards seriously this week, exceeding our first two targets (1.1500 and 1.1550). Price is now going towards the resistance line at 1.1600, and it may test it between today and tomorrow. The outlook on the EUR/USD is bullish for this week.

EUR/USD: The EUR/USD has moved upwards seriously this week, exceeding our first two targets (1.1500 and 1.1550). Price is now going towards the resistance line at 1.1600, and it may test it between today and tomorrow. The outlook on the EUR/USD is bullish for this week.

USD/CHF: This market has gone seriously southwards this week, ending the short-term neutrality on it. Our first target at 0.9550 has been exceeded, and the next target would be the support level at 0.9500, which is expected to be exceeded as well. There is a Bearish Confirmation Pattern in the market.

GBP/USD: The GBP/USD has been volatile so far this week, but the bullish bias on it has remained intact (unless price drops by 200 pips from here). The outlook on GBP pairs is bullish for this week, and as such, it is possible to see the GBP/USD go upwards by over 200 pips from here, putting more emphasis on the recent bullish bias.

USD/JPY: A Bearish Confirmation Pattern has appeared on this currency trading instrument, as it goes south more than 70 pips this week (till present). There is a bearish signal in the market, and price has gone below the supply level at 112.00, now nosing towards the demand level at 111.50, which is the next target right now.

EUR/JPY: This cross has not done much so far – in fact it is consolidating right now. The stamina in EUR has helped in keeping the bullishness in the market. The situation may change. The demand zone at 128.50 has tried to halt further correction, but price may break below it as it goes further southwards, thus invalidating the uptrend. It should be borne in mind that the outlook on JPY pairs is bearish for July.

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

417

Daily analysis of major pairs for July 24, 2017

The USD/CHF went south by 180 pips last week, having lost about 620 pips since May 11. There is a huge Bearish Confirmation Pattern in the chart and further downwards movement could be seen, as price goes towards the support levels at 0.9400, 0.9350 and 0.9300. On the hand, there could be a meaningful rally when USD gains stamina.

EUR/USD: On the EUR/USD, bulls are the clear winners this week. Price has already gone above the multi-month high at 1.1600, and it closed above the support line at 1.1650 on Friday. There could be further bullish movement this week, for the resistance lines at 1.1700, 1.1750 and 1.1800 could be tested this week. It should also be borne in mind that the further the market goes upwards, the more the chances of a significant pullback.

USD/CHF: The USD/CHF went south by 180 pips last week, having lost about 620 pips since May 11. There is a huge Bearish Confirmation Pattern in the chart and further downwards movement could be seen, as price goes towards the support levels at 0.9400, 0.9350 and 0.9300. On the hand, there could be a meaningful rally when USD gains stamina.

GBP/USD: The Cable is neutral in the short-term, and bullish in the long-term. A movement above the distribution territory at 1.3150 would strengthen the recent bullish bias; a movement below the accumulation territory at 1.2800 would result in a bearish bias. A movement between the distribution territory at 1.3050 and the accumulation territory at 1.2950 would result in further neutrality.

USD/JPY: The USD/JPY lost about 140 pips last week, testing the demand level at 111.00. Since July 11, price has lost about 310 pips, leading to a Bearish Confirmation Pattern in the market. The demand levels at 111.00, 110.50 and 109.50 should be tested this week, owing to a strong bearish outlook on JPY pairs this week.

EUR/JPY: This cross has held out its bullishness so far. The market consolidated last week, and it can go further upwards from here, reaching the supply zones at 130.50 and 131.00. One reason the cross is able to remain bullish till now is the strength in the EUR itself; and things would begin to drop once the EUR loses strength. There is a possibility of a bearish reversal before the end of the month.

Source: www.instaforex.com

418

Daily analysis of major pairs for July 25, 2017

The USD/CHF did nothing significant on Monday. Price moved sideways in the context of a downtrend, and the downtrend is supposed to continue as price goes towards the support lines at 0.9450, and 0.9400. On the other hand, there could be a reversal of the trend when USD gains stamina.

EUR/USD: This is a bull market, although price merely went sideways on July 24. Price is currently between the support line at 1.1650 and the resistance line at 1.1700. The resistance line at 1.1700 is the next target for today and tomorrow. Once it is breached to the upside, there is another target at the resistance line at 1.1800.

USD/CHF: The USD/CHF did nothing significant on Monday. Price moved sideways in the context of a downtrend, and the downtrend is supposed to continue as price goes towards the support lines at 0.9450, and 0.9400. On the other hand, there could be a reversal of the trend when USD gains stamina.

GBP/USD: The Cable is neutral in the short-term, and bullish in the long-term. A movement above the distribution territory at 1.3150 would strengthen the recent bullish bias; a movement below the accumulation territory at 1.2800 would result in a bearish bias. Further sideways movement would bring more consolidation.

USD/JPY: There has been a slight upwards movement on this pair, which is essentially in the context of a downtrend. This can end up being opportunities to sell short at a better price, for the Bearish Confirmation Pattern in the market is intact, and the outlook on JPY pairs is bearish for the rest of the month.

EUR/JPY: This cross has held out its bullishness so far, in spite of the short-term consolidation being witnessed. One reason the cross is able to remain bullish till now is the strength in the EUR itself; and things would begin to drop once the EUR loses strength. There is a possibility of a bearish reversal before the end of the month.

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

419

Daily analysis of major pairs for July 31, 2017

The EUR/JPY has been consolidating for about two weeks, thus causing a short-term neutral bias on the market. This week, price would either move above the supply zone at 130.50, to help emphasize a bullish outlook, or it would go below the demand zone at 128.00 to help emphasize a bearish outlook. One of the two possibilities would materialize within the next several trading days.

EUR/USD: The EUR/USD has generally been bullish this year, and the bullishness was continued last week. Price went north by 100 pips, testing the resistance line at 1.1750. There are additional resistance levels at 1.1800 and 1.1850, which could be tested before a considerable correction occurs. The outlook on EUR pairs is bearish for this week, but bullish for August.

USD/CHF: Both the USD/CHF and the EUR/USD are now bullish – a rare occurrence. Both of them are normally negatively correlated, but the bullishness in the USD/CHF was brought about by an exponential weakness in CHF, which is expected to be reversed this week, for CHF would regain its losses. Thus, it is expected that CHF pairs would be strong this week and in August (while the CHF/JPY goes south).

GBP/USD: The GBP/USD managed to go upwards last week, in what can be called a positive correlation with the EUR/USD. Price tested the distribution territory at 1.3150 repeatedly and it could breach it to the upside this week. Then another distribution territories at 1.3200 and 1.3250 would be aimed. In August 2017, there would be mixed results on GBP pairs.

USD/JPY: In spite of bulls’ attempt to push this market upwards, the movement last week was generally bearish. The demand level at 110.50 is now being targeted (after price closed below the supply level at 111.00 on Friday). Once the demand level is breached, another demand level at 110.00 and 109.50 would be targeted. The outlook on JPY pairs for this week and for August is bearish.

EUR/JPY: The EUR/JPY has been consolidating for about two weeks, thus causing a short-term neutral bias on the market. This week, price would either move above the supply zone at 130.50, to help emphasize a bullish outlook, or it would go below the demand zone at 128.00 to help emphasize a bearish outlook. One of the two possibilities would materialize within the next several trading days.

Source: www.instaforex.com

420

Daily analysis of major pairs for August 1, 2017

The EUR/JPY is in a consolidation mode and the bias on the market has become neutral. Further consolidation would put more emphasis on the current neutrality in the market. A movement below the demand zone at 128.50 would result in a bearish signal, while a movement above the supply zone at 130.50 would result in a bullish signal.

EUR/USD: This pair is in a strong bullish mode and it trended northwards yesterday, to continue the general bullishness that has been seen so far this year. Price is currently above the support line at 1.1800 and it may reach the resistance line at 1.1850, which would be breached to the upside as price goes further upwards to test another resistance line at 1.1900.

USD/CHF: The USD/CHF went sideways on Monday, while the bullish signal that was generated last week is still intact. As long as CHF is weak, the bullish signal in the market would be sustained. While the resistance level at 0.9700 could be tested once again, the market would go seriously south in case CHF gains stamina.

GBP/USD: The Cable has gained additional 130 pips this week, having gained over 350 pips within the last few weeks. There is a Bullish Confirmation Pattern in the 4-hour chart. Further northward movement is anticipated, as price goes towards the distribution territories at 1.3250, 1.3300 and 1.3350.

USD/JPY: The USD/JPY has gone further downwards. In this market, any rallies ought to be seen as opportunities to sell short, for the outlook on the market is bearish for this week and this month. The next targets for bears are located at the demand levels of 110.00 and 109.50, which would be reached within the next several trading days.

EUR/JPY: The EUR/JPY is in a consolidation mode and the bias on the market has become neutral. Further consolidation would put more emphasis on the current neutrality in the market. A movement below the demand zone at 128.50 would result in a bearish signal, while a movement above the supply zone at 130.50 would result in a bullish signal.

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

421

Daily analysis of major pairs for August 7, 2017

The EUR/JPY is a neutral market, and the neutrality continued last week. Bull made an effort to push price above the supply zone at 131.00, but the effort proved abortive as price experienced some weakness in the last few days of last week (emphasizing the neutrality in the market). On factor preventing a serious pullback in this market is the stamina in EUR. Should EUR loses strength, there would be a pullback on the EUR/JPY.

EUR/USD: This pair went upwards, testing the resistance line at 1.1900 and then dropping below the resistance line at 1.1800. The drop in the context of an uptrend may end up giving a nice opportunity to buy long at better prices. The outlook on EUR pairs is bullish for this week, and price could go upwards from here, testing the resistance line at 1.1800, 1.1850 and 1.1900.
USD/CHF: There remains a bullish signal on the USD/CHF, although price consolidated last week. The resistance level at 0.9750 has been tested and it could be tested again this week, but it is unlikely that it would be breached to the upside. The USD/CHF was able to remain bullish as a result of the weakness in CHF, which may be reversed this week. The outlook on the CHF is bullish for the week, and the USD/CHF may experience a downward movement in case CHF becomes strong.

GBP/USD: The GBP/USD was able to go upwards because of its positive correlation with the EUR/USD, which is strong in its own right. Price made some bullish attempt, which was rendered invalid as it tested the distribution territory at 1.3250 and then got rejected as price became weak on Thursday and Friday. Further weakness is a possibility because the outlook on GBP pair is bearish for this week. The accumulation territories at 1.3000 and 1.2950 could be tested.
USD/JPY: There is a huge Bearish Confirmation Pattern on the USD/JPY. Since July 11, price has dropped by 420 pips; plus the shallow bullish attempt that was seen at the end of last week pales into insignificance when compared to the overall bearish bias. The outlook on certain JPY pairs is bearish this week, and this could cause the demand level at 110.50 and 110.00 to be tested. The demand level at 110.00 was tested last week.

EUR/JPY: The EUR/JPY is a neutral market, and the neutrality continued last week. Bull made an effort to push price above the supply zone at 131.00, but the effort proved abortive as price experienced some weakness in the last few days of last week (emphasizing the neutrality in the market). On factor preventing a serious pullback in this market is the stamina in EUR. Should EUR loses strength, there would be a pullback on the EUR/JPY.

Source: www.instaforex.com

422

Daily analysis of major pairs for August 8, 2017

The EUR/USD did not do anything significant on Monday – price merely went sideways. Last Friday, a drop in price was witnessed. The drop in the context of an uptrend may end up giving a nice opportunity to buy long at better prices. The outlook on EUR pairs is bullish for this week, and price could go upwards from here, testing the resistance line at 1.1800, 1.1850 and 1.1900.

EUR/USD: The EUR/USD did not do anything significant on Monday – price merely went sideways. Last Friday, a drop in price was witnessed. The drop in the context of an uptrend may end up giving a nice opportunity to buy long at better prices. The outlook on EUR pairs is bullish for this week, and price could go upwards from here, testing the resistance line at 1.1800, 1.1850 and 1.1900.

USD/CHF: This currency trading instrument consolidated last week, and it also went sideways on August 7. The resistance level at 0.9750 has been tested and it could be tested again this week, but it is unlikely that it would be breached to the upside. The outlook on the CHF is bullish for the week, and the USD/CHF may experience a downward movement in case CHF becomes strong.

GBP/USD: A clean bearish signal has been generated on the Cable, following the weakness that started last week. From the weekly high of 1.3268, price has lost about 220 pips, now below the distribution territory at 1.3050. The next target is the accumulation territory at 1.3000, which would most likely be breached to the downside.

USD/JPY: This is a bear market – price has been going downwards since early July. There is a huge bearish Confirmation Pattern in the market, and more bearish journey is anticipated this week as price goes for the demand level at 110.50 and 110.00 (both were tested last week). The demand levels may even be exceeded to the downside.

EUR/JPY: The EUR/JPY is a neutral, but the neutrality is gradually coming to an end as price is being subtly pushed upwards. Price has moved above the demand zone at 130.50 and it may even move above the supply zone at 131.00. However, things would go seriously bearish when EUR becomes very week, and when JPY become strong it its own right.

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

423

Daily analysis of major pairs for August 14, 2017

The EUR/JPY dropped 250 pips last week, almost reaching the demand zone at 128.00. The upwards bounce that happened at the end of the week has given another wonderful opportunity to sell short at better prices in the context of a downtrend. The next targets for bears are the demand zones at 128.50, 128.00 and 127.50.

EUR/USD: This pair moved sideways last week. In case it moves sideways throughout this week, the bias would become neutral. However, a movement above the resistance line at 1.1850 and below the support line at 1.1700 would create a directional bias. EUR could be seen going upwards versus AUD and NZD this week.

USD/CHF: A “sell” signal has already been generated on the USD/CHF, owing to the Bearish Confirmation Pattern in the market. Unless USD gains some stamina, further bearish movement would be witnessed this week. The targets are the support levels at 0.9600, 0.9550 and 0.9500. A movement above the resistance level at 0.9750 would help restore a bullish bias, and render the bearish expectation invalid.

GBP/USD: In the context of a downtrend, the GBP/USD went sideways. Further sideways movement would result in a short-term neutral bias on the market; while a movement to the downside would lay more emphasis on the recent bearishness in the market. There is also a possibility of a rally (though it could be short-term). GBP could go upwards versus AUD and NZD this week.

USD/JPY: From the July high of 114.49, the USD/JPY has dropped 550 pips, testing the demand level at 109.00 on Monday. The demand level would be tested again, and breached to the downside, as other demand levels at 108.50 and 108.00 are aimed. The outlook on JPY pairs remains bearish for this week.

EUR/JPY: The EUR/JPY dropped 250 pips last week, almost reaching the demand zone at 128.00. The upwards bounce that happened at the end of the week has given another wonderful opportunity to sell short at better prices in the context of a downtrend. The next targets for bears are the demand zones at 128.50, 128.00 and 127.50.

Source: www.instaforex.com

424

Daily analysis of major pairs for August 15, 2017

There is a “buy” signal on the USD/CHF, which has been brought about by a 120-pip movement we have seen so far this week. Further upwards movement is expected, and so, the resistance level at 0.9750 would be tested and breached to the upside, after which the resistance level at 0.9800 would be reached.

EUR/USD: The EUR/USD was forced to move lower as a result of an ongoing bullish effort on the USD/CHF (which was brought about by weakness in CHF). A movement above the resistance line at 1.1850 and below the support line at 1.1700 would create a directional bias. EUR could be seen going upwards versus AUD and NZD this week.

USD/CHF: There is a “buy” signal on the USD/CHF, which has been brought about by a 120-pip movement we have seen so far this week. Further upwards movement is expected, and so, the resistance level at 0.9750 would be tested and breached to the upside, after which the resistance level at 0.9800 would be reached.

GBP/USD: This is a bear market, and if the extant positive correlation with the EUR/USD is anything to go buy, the latter would be forced to go southwards. Cable has moved below the distribution territory at 1.2950, and it would go on to target the accumulation territory at 1.2900 (which may even be exceeded later).

USD/JPY: The USD/JPY has moved upwards by 130 pips this week, thereby creating a threat to the recent bearish outlook on the market. A movement above the supply level at 111.00 would result in a Bullish Confirmation Pattern, while a significant drop from here would help lay emphasis on the recent bearish outlook on the market.

EUR/JPY: This cross pair is also making bullish effort, but the condition surrounding EUR is taking its toll. There is a need for price to gain additional 200 pips so as to restore a bullish signal; but a drop in price would make this expectation invalid. There are demand zones at 129.00 and 128.50. There are also supply zones at 130.00 and 130.50.

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

425

Daily analysis of major pairs for August 21, 2017

The EUR/JPY went generally bearish last week. Price lost about roughly 200 pips and then bounced upwards on Friday. The upwards bounce has given another good opportunity to sell short at a better price. The demand zones at 128.00, 127.50 and 127.00 may be tested this week. The demand zone at 128.00 was tested last week.

EUR/USD: In the short-term, this currency trading instrument has become neutral, for consolidating in the last few weeks. The neutrality is supposed to be ended this week or next week, as price either goes above the resistance line at 1.1850 (creating a Bullish Confirmation Pattern) or goes below the support line at 1.1650 (creating a Bearish Confirmation Pattern). As long as price stays between the aforementioned support and resistance lines, the neutrality in the market would continue.

USD/CHF: This pair did not move in a directional mode last week, though a short-term bearish signal has been generated in the market. The bearish signal would become stronger once the support levels at 0.9600 and 0.9550 and breached to the downside. There could also be a bullish movement, which may render the short-term bearishness invalid, for USD is supposed to go upwards this week, while CHF becomes weak.

GBP/USD: The Cable went downwards smoothly last week, testing the accumulation territory at 1.2850 several times, but not able to break it to the downside. The outlook on GBP pairs is bearish for this week, and the accumulation territory that has been tested several times would eventually be breached to the downside, as price targets other accumulation territories at 1.2800, 1.2750 and 1.2700.

USD/JPY: The movement on the USD/JPY last week was quite similar to the movement on the EUR/JPY. Price made some bullish attempt in the first few days of the week, and then fell downwards, starting from August 16, closing below the supply level at 109.50 (after testing the demand level at 109.00). Further bearish movement is expected this week, and thus the demand levels at 109.00, 108.50 and 108.00 could be tested.

EUR/JPY: The EUR/JPY went generally bearish last week. Price lost about roughly 200 pips and then bounced upwards on Friday. The upwards bounce has given another good opportunity to sell short at a better price. The demand zones at 128.00, 127.50 and 127.00 may be tested this week. The demand zone at 128.00 was tested last week.

Source: www.instaforex.com

426

Daily analysis of major pairs for August 22, 2017

The GBP/USD moved sideways yesterday – in the context of a downtrend. There is Bearish Confirmation Pattern in the chart, but further sideways movement could result in a short-term neutrality. There would be a movement above the distribution territory at 1.3000 or a movement below the accumulation territory at 1.2750, before there is a directional bias. The current impediment is the accumulation territory at 1.2850, which needs to be breached first, after being tested many times.

EUR/USD: This pair made some bullish effort on Monday – but that seemed insignificant enough to affect the ongoing neutrality of the market. A breakout that can put an end to the current neutrality would happen before the end of this week, and that would make price go above the resistance line at 1.1900 or below the support line at 1.1650. A movement to the downside is more likely, but the support line at 1.1750 ought to be breached to the downside first (it has been tested many times without being broken).

USD/CHF: There is a bearish signal on the USD/CHF. The bearish signal would become stronger once the support levels at 0.9600 and 0.9550 and breached to the downside. There could also be a bullish movement, which may render the short-term bearishness invalid, for USD is supposed to go upwards this week, while CHF becomes weak.

GBP/USD: The GBP/USD moved sideways yesterday – in the context of a downtrend. There is Bearish Confirmation Pattern in the chart, but further sideways movement could result in a short-term neutrality. There would be a movement above the distribution territory at 1.3000 or a movement below the accumulation territory at 1.2750, before there is a directional bias. The current impediment is the accumulation territory at 1.2850, which needs to be breached first, after being tested many times.

USD/JPY: This currency trading instrument reflects some power tussle between bull and bear. The overall bias is bearish and price could continue going downwards, reaching the demand levels at 109.00 and 108.50. Rallies in the market can be taken as opportunities to sell short at better prices.

EUR/JPY: The EUR/JPY made some bullish effort on August 22, 2017, while the major bias remains bearish. Unless price goes above the supply zone at 130.00 (which could threaten the current bearish bias), it is expected to drop from here, testing the demand zones at 126.50 and 126.00, even going lower than that.

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