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427

Daily analysis of major pairs for August 28, 2017

This USD/CHF pair is bearish in the long-term, butt neutral in the short-term. The bearish breakout that was seen on August 25 was not significant enough to override the short-term neutrality in the market, unless price breaks the support level at 0.9550 and 0.9500 to the downside, which would happens as the EUR/USD journeys upwards. A sharp rise in the USDCHF would happen only when there is a sharp drop in the EUR/USD.

EUR/USD: The EUR/USD moved sideways last week (being neutral in the short-term and bullish in the long-term). Price broke upwards on Friday, thus creating a bullish signal, and as a result of this, the resistance lines at 1.1950 and 1.2000 would be targeted. The resistance line at 1.2000 could try to impede further bullish movement at that point, for there is also a possibility of price coming downwards before the end of the week.

USD/CHF: This pair is bearish in the long-term, butt neutral in the short-term. The bearish breakout that was seen on August 25 was not significant enough to override the short-term neutrality in the market, unless price breaks the support level at 0.9550 and 0.9500 to the downside, which would happens as the EUR/USD journeys upwards. A sharp rise in the USDCHF would happen only when there is a sharp drop in the EUR/USD.

GBP/USD: The GBP/USD has lost roughly 450 pips this month, and the upwards bounce that was seen on Friday was not significant enough to threaten the overall bearish movement. The outlook on GBP pairs for this week, and for the month of September, is bearish. Thus it is expected that the bearish movement in the market would continue as price targets the accumulation territories at 1.2850, 1.2800 and 1.2750.

USD/JPY: This currency trading instrument is neutral in the short-term and bearish in the long-term. The strong movements that are being seen on some other JPY pairs seem not have any impact on the USD/JPY. There is an expectation of further bearish movement this week, and this month. The outlook on JPY pairs is bearish for the week and for September.

EUR/JPY: This cross did something interesting last week, in that it started making bullish effort at the beginning of last week, and the effort became so significant on Friday. Price closed above the demand zone at 130.00, targeting the supply zone at 130.50 (The market closed at 130.39 on Friday). This week, the market could gain another 200 pips, but it would eventually come down, owing to a general bearish outlook on JPY pairs.

Source: www.instaforex.com

428

Daily analysis of major pairs for August 29, 2017

The movements on major pairs are becoming interesting. A bullish signal has been generated on the GBP/USD, as price goes above the accumulation territory at 1.2900, going towards the distribution territory at 1.2950 (which would be breached to the upside soon). There is now a Bullish Confirmation Pattern in the 4-hour chart.

EUR/USD: This pair went upward significantly on Friday and on Monday, leading to a huge Bullish Confirmation Pattern in the 4-hour chart. It is expected that price would continue going upwards until it reaches the resistance line at 1.2000. At that point, bears would offer a fierce resistance against bulls. Price may fall at that point.

USD/CHF: What happened in this market last week, has resulted in a bearish signal (especially given the continuous bullish journey on the EUR/USD, which would help drive the USD/CHF price further into the southwards territory). The recent neutrality in the market is over and price would go further downwards.

GBP/USD: The movements on major pairs are becoming interesting. A bullish signal has been generated on the GBP/USD, as price goes above the accumulation territory at 1.2900, going towards the distribution territory at 1.2950 (which would be breached to the upside soon). There is now a Bullish Confirmation Pattern in the 4-hour chart.

USD/JPY: This currency trading instrument is neutral in the short-term and bearish in the long-term. The neutrality is currently being ended as the USD/JPY price goes further downwards, testing the demand level at 108.50 and poising to break it to the downside. After the demand level at 108.50 has been broken to the downside, the next target would be the demand level at 108.00.

EUR/JPY: This cross generated a bullish signal at the end of last week, and then went further upwards yesterday. The current pullback that is being seen in the market is a wonderful opportunity to buy long when things are on sale, and in the context of an uptrend. It is possible for this cross to gain additional 200 pips before it reverses seriously.

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

429

Daily analysis of major pairs for September 4, 2017

The EUR/JPY is bullish. Price went upwards last week, to test the supply zone at 131.50, before it got corrected by 70 pips, to close below the supply zone at 131.00 on Friday. The movement of the market this week would be determined by whatever happens to Yen. Continuous weakness in Yen would enable price to reach the supply zones at 131.00, 131.50 and 132.00. Should Yen show a measure of stamina, the EUR.JPY would go downwards by around 200 pips.

EUR/USD: This pair is bullish in the long-term, but bearish in the short-term. Although price made some bullish effort last week, rising upwards to test the resistance line at 1.2050 (before about 200-pip correction), we could see further bearish movement this week. Some bullish effort is also possible, but it would be contained at the resistance line at 1.2050.

USD/CHF: This currency trading instrument has been consolidating for about 5 weeks – hence a neutral outlook on the market. There is going to be a rise in momentum this week, which would result in a Bullish Confirmation Pattern (when price gains about 150 pips), or it would result in a Bearish Confirmation Pattern (when price loses about 150 pips).

GBP/USD: The GBP/USD is bearish, although price merely consolidated throughout last week. A closer look at the market reveals a possibility of a bullish movement that may enable price to test the distribution territories at 1.3000 and 1.3050. Alternatively, price could go further downwards from here, leading to more emphasis on the recent bearish outlook.

USD/JPY: This market is neutral (in spite of what happened last week), having consolidated for about a few weeks. A directional movement would happen this week, after price goes below the demand level at 108.50 or it goes above the supply level at 111.00. That is the expectation for this week.

EUR/JPY: The EUR/JPY is bullish. Price went upwards last week, to test the supply zone at 131.50, before it got corrected by 70 pips, to close below the supply zone at 131.00 on Friday. The movement of the market this week would be determined by whatever happens to Yen. Continuous weakness in Yen would enable price to reach the supply zones at 131.00, 131.50 and 132.00. Should Yen show a measure of stamina, the EUR.JPY would go downwards by around 200 pips.

Source: www.instaforex.com

430

Daily analysis of major pairs for September 5, 2017

The GBP/USD consolidated on September 4, with no significant movement to the upside or the downside. The market has been consolidating since last week, in the context of an uptrend. However, a breakout is imminent, which would most probably favor bears. The accumulation territories at 1.2900 and 1.2850 would soon be tested.

EUR/USD: This pair moved sideways on Monday. The bullish signal in the market is still valid (unless price goes below the support lines at 1.1750). It is possible that when momentum returns to the market, it would most probably favor the current bullish signal, and thus, the resistance lines at 1.1950 and 1.2000 could be reached.

USD/CHF: This currency trading instrument has been consolidating for about 5 weeks – hence a neutral outlook on the market. There is going to be a rise in momentum this week, which would result in a Bullish Confirmation Pattern (when price gains about 150 pips), or it would result in a Bearish Confirmation Pattern (when price loses about 150 pips).

GBP/USD: The GBP/USD consolidated on September 4, with no significant movement to the upside or the downside. The market has been consolidating since last week, in the context of an uptrend. However, a breakout is imminent, which would most probably favor bears. The accumulation territories at 1.2900 and 1.2850 would soon be tested.

USD/JPY: This market is neutral in the medium-term, but bearish in the very short-term. Yesterday, price trended lower, and further downwards movement could result in a bearish signal (especially when the support level at 109.00 is broken to the downside). A rally from here would force price back into the neutral zone.

EUR/JPY: The EUR/JPY cross opened this week with a minor gap-down and then trended lower. This price action has become a threat to the recent bullish bias on the market, for price has been coming down since it tested the supply zone at 131.50 last week (a drop of 110 pips). Further drop in price would ultimately lead to a bearish signal.

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

431

Daily analysis of major pairs for September 11, 2017

This pair gained a minimum of 270 pips last week, rising in the beginning of the week and testing the distribution territory at 1.3200. That distribution territory has been tested a few times and it would eventually be breached to the upside, as price targets another distribution territories at 1.3250, 1.3300 and 1.3350.

EUR/USD: This pair is bullish – and there is a bullish outlook on the market this week. This is also true of EUR pairs, for they are expected to go upwards this (in most cases). Price would reach the resistance lines at 1.2050, 1.3000 and 1.3050 (which is the ultimate target for the week).

USD/CHF: The USD/CHF trended downward last week, went briefly below the support level at 0.9450 and then closed above it on Friday. Further bearish movement is anticipated this week, and price would test the support levels at 0.9450, 0.9400 and 0.9350. As long as the EUR/USD is weak, a meaningful rally on the USD/CHF cannot be expected.

GBP/USD: This pair gained a minimum of 270 pips last week, rising in the beginning of the week and testing the distribution territory at 1.3200. That distribution territory has been tested a few times and it would eventually be breached to the upside, as price targets another distribution territories at 1.3250, 1.3300 and 1.3350.

USD/JPY: The USD/JPY dropped about 250 pips last week, having dropped about 660 pips since July 11, 2017. There is a huge Bearish Confirmation Pattern in the market, which points to more southwards movement. However, the outlook on JPY pairs is bullish this week, which means that, while further southwards movement is possible, the market would reverse and rally before the end of the week.

EUR/JPY: This currency trading instrument has become essentially neutral – for there was no directional movement in the market last week. This week, price is expected to go either above the supply zone at 131.00 (staying above it) or to go below the demand zone at 129.50, (staying below it). Except one of these conditions are met, the market cannot be said to be trending in the short-term.

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

432

Daily analysis of major pairs for September 12, 2017

The GBP/USD has gone further upwards this week, as price stays around the distribution territories at 1.3250 and 1.3300. There is a huge Bearish Confirmation Pattern in the market, which means price would continue going upwards, gaining another 150 – 200 pips this week.

EUR/USD: The EUR/USD has trended lower at the beginning of this week – thus creating a threat to the extant bullish bias on the market. A movement below the support line at 1.1850 would result in a bearish bias, while a movement above the resistance line at 1.2050 would help strengthen it. This is the expectation for today and tomorrow.

USD/CHF: The USD/CHF has trended higher at the beginning of this week – thus creating a threat to the extant bearish bias on the market. A movement above the resistance level at 0.9650 would result in a bullish bias, while a movement below the support level at 0.9450 would help strengthen it. This is the expectation for today and tomorrow.

GBP/USD: The GBP/USD has gone further upwards this week, as price stays around the distribution territories at 1.3250 and 1.3300. There is a huge Bearish Confirmation Pattern in the market, which means price would continue going upwards, gaining another 150 – 200 pips this week.

USD/JPY: This market opened this week with a minor gap and then shot skywards, thus threatening the recent bearishness in the market. Since the outlook on the market is bullish for this week, it is expected that price would continue going upward, reaching the supply levels at 110.00, 110.50 and 111.00 within the next few trading days.

EUR/JPY: A clean bullish signal has been generated on this cross: Price is now above the demand zone at 131.00, targeting the supply zone at 131.50 (which may be exceeded, owing to the bullish outlook on JPY pair this week). As long as price stays above the demand zone at 129.50, the bullish signal would be intact.

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

433

Daily analysis of major pairs for September 18, 2017

The USD/JPY went bearish in the first week of this month and then went bullish last week. The market is bearish in the long-term and bullish in the short-term. This week, price could go further upwards by another 100 pips, but further bullish movement would be rejected, owing to a bearish expectation on JPY pairs for this week.

EUR/USD: There is short-term neutrality on the EUR/USD - although the long-term bias on the market is bullish. The short-term neutrality on the market would end as price goes upwards by about 150 pips or goes downwards by about 150 pips from here.

USD/CHF: This pair is bearish in the long-term and neutral in the short-term. For a directional movement to start, price would either need to go below the supply line at 0.9500 (staying below it); or price would go above the resistance level at 0.9700, causing a bullish signal to be generated. A movement below the support level at 0.9500 would strengthen the overall bearish outlook, while movements between the support line at 0.9500 and the resistance line at 0.9700, would perpetuate the ongoing neutrality in the market.

GBP/USD: This currency trading instrument has gone upwards seriously, gaining about 680 pips within two weeks (the movement last week was the strongest). There is a huge Bullish Confirmation Pattern in the market, which portends further bullish movement. This week, the distribution territories at 1.3600, 1.3650 and 1.3700 could be seen. There could be pauses and transitory bearish corrections along the way.

USD/JPY: The USD/JPY went bearish in the first week of this month and then went bullish last week. The market is bearish in the long-term and bullish in the short-term. This week, price could go further upwards by another 100 pips, but further bullish movement would be rejected, owing to a bearish expectation on JPY pairs for this week.

EUR/JPY: The EUR/JPY went upwards from the demand zone at 130.00 to test the supply zone at 133.00 (a gain of 300 pips). The supply zones at 132.50, 133.00 and 133.50 would be reached this week before there is a turn in the market, which would harbinger a southwards movement, which would result in a bearish bias. On Friday, price closed below the supply zone at 132.50, after testing the supply zone at 133.00.

Source: www.instaforex.com

434

Daily analysis of major pairs for September 19, 2017

The USD/JPY went further upwards on Monday, now around the price level at 111.50. The supply levels at 112.00 and 112.50 could be targeted soon. However, it is expected that price would come down before the end of the week, owing to a bearish outlook on JPY pairs for this week.

EUR/USD: There is short-term neutrality on the EUR/USD - although the long-term bias on the market is bullish. The short-term neutrality on the market would end as price goes upwards by about 150 pips or goes downwards by about 150 pips from here.

USD/CHF: This pair still consolidates. For a directional movement to start, price would either need to go below the supply line at 0.9500 (staying below it); or price would go above the resistance level at 0.9700, causing a bullish signal to be generated. A movement below the support level at 0.9500 would strengthen the overall bearish outlook.

GBP/USD: The GBP/USD traded lower on September 18 – in the context of an uptrend. There is Bullish Confirmation Pattern in the market, which means continuous bullish journey. That means the current (shallow) bearish correction is a good opportunity to buy long at better prices, anticipating further bullish movement.

USD/JPY: The USD/JPY went further upwards on Monday, now around the price level at 111.50. The supply levels at 112.00 and 112.50 could be targeted soon. However, it is expected that price would come down before the end of the week, owing to a bearish outlook on JPY pairs for this week.

EUR/JPY: This currency trading instrument went upwards by another 80 pips on Monday, and it is now testing the supply zone at 133.50. Since the beginning of last week, price has gained about 360 pips and it could gain more pips. On the other hand, a meaningful reversal is expected before the end of this week.

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

435

Daily analysis of major pairs for September 25, 2017

The EUR/JPY went upwards last week, before being corrected on Friday. The correction could unfold further, but it may not be significant enough to threaten the extant bullish outlook on the market, which means the bearish correction would end up giving opportunities to buy long at better prices.

EUR/USD: This pair went upwards on September 18 and 19, went downwards on September 20, but it made some bullish attempt again on September 21 and 22. Since there has been no clear victory between bull and bear, the neutrality in the market remains. This week, price would either go above the resistance line at 1.2050 (staying above it); or price would go below the support line at 1.1850 staying below it. That is what would create a directional bias.

USD/CHF: This market is bullish in the short-term. Price consolidated in the first few days of last week, and then rose upwards. Should price go further north this week a clean Bullish Confirmation Pattern would be generated in the market. However, a bearish movement from this point would lead to some neutrality.

GBP/USD: The GBP/USD consolidated throughout last week – albeit in the context of an uptrend. There would be a breakout to the upside this week, which would most probably be in favor of bulls, for the outlook on GBP pairs is bullish for this week. The distribution territories at 1.3550, 1.3600 and 1.3650 would be tested before the end of the month.

USD/JPY: This currency trading instrument went upwards last week and consolidated on Friday. The bias on the market is bullish and further bullish movement is anticipated this week as price goes towards the supply levels at 112.50, 113.00 and 113.50. The outlook on JPY pairs is bullish for the week

EUR/JPY: The EUR/JPY went upwards last week, before being corrected on Friday. The correction could unfold further, but it may not be significant enough to threaten the extant bullish outlook on the market, which means the bearish correction would end up giving opportunities to buy long at better prices.

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

436

Daily analysis of major pairs for September 26, 2017

The EUR/USD traded downwards on Monday, generating a short-term bullish signal. Further downwards movement is possible and price could reach the support lines at 1.1850 and 1.1800 within the next few days.

EUR/USD: The EUR/USD traded downwards on Monday, generating a short-term bullish signal. Further downwards movement is possible and price could reach the support lines at 1.1850 and 1.1800 within the next few days.

USD/CHF: This pair pulled back yesterday, but that was not significant enough to bring about any new bias on the market. A movement below the support level at 0.9500 would result in a bearish signal; while a movement above the resistance level at 0.9750 would lead to the renewal of a recent bullish signal.

GBP/USD: There is a kind of mixed signals on the Cable right now. Price went slightly bearish on September 25, and it almost posed a threat to the extant bullishness in the market. It is possible for price to go northwards from here; thereby reiterating the bullish bias on the market. Further drop from here (by about 150 pips) could result in a bearish signal.

USD/JPY: This week began with a slight pullback on this currency trading instrument – and it has become a kind of threat on the recent bullish bias on the market. A movement below the demand level at 110.50 would generate a bearish signal, and a movement above the supply level at 112.50 would put more emphasis on the recent bullish signal.

EUR/JPY: The EUR/JPY dropped by over 180 pips on Monday. The drop was significant enough to pose a threat to the recent and precarious bullish bias on the market. It is possible that price could rise further from here, as the Yen is weakened further. More bearish movement would result in a bearish signal.

Source: www.instaforex.com

437

Daily analysis of major pairs for October 2, 2017

The protracted bearish correction that has been witnessed this week, has resulted in a bearish signal on the GBP/USD. Price has gone down by 140 pips, and further downwards movement is expected as price goes towards the accumulation territories at 1.3350, 1.3300 and 1.3250 (which could be reached within the next several days).

EUR/USD: This pair dropped by 200 pips last week, dropped briefly below the support line at 1.1750 and then closed above the support line at 1.1800. This week, further bearish movement is possible (which means the current rally in the context of a downtrend is another opportunity to go short at better prices), as price goes towards the support lines at 1.1800, 1.1750 and 1.1700. The outlook on EUR pairs is strongly bearish for the month of October; so EUR could be seen going downwards versus major pairs.

USD/CHF: The USD/CHF is precariously bullish. In case the EUR/USD continues to slide southwards, the USD/CHF would be moving northwards. Another impediment to the bullishness of the USD/CHF is the expected stamina in CHF itself (which would happen within the next two weeks). However, bulls would become a clear winner at the end of the month, as USD would start a vivid gathering of strength.

GBP/USD: The GBPUSD was generally bullish in September, save the bearish correction that was witnessed last week. Price came down by 200 pips and that has resulted in a Bearish Confirmation Pattern in the market. Further bearish movement is strongly anticipated this week as price targets the accumulation territories at 1.3350, 1.3300 and 1.3250. The outlook on GBP pairs is bearish for this week, and therefore, long trades are not recommended.

USD/JPY: This currency trading instrument has gone upwards by 450 pips since September 11, and it has thus generated a bullish signal which still remains in place. This week and this month, the movement in the market would be determined by whatever happens to USD. A stronger USD would mean the market would continue going north, while a weaker USD would result in a protracted bearishness that could eventually lead to a “sell” signal.

EUR/JPY: This cross dropped on Monday and Tuesday, and thne consolidated for the rest of last week. Nonetheless, a closer look at the market reveals that bulls have been subtly pushing the market upwards: thereby saving the recent bullish bias. Price could continue going upwards – and if EUR is weakened too much – price could nosedive.

Source: www.instaforex.com

438

Daily analysis of major pairs for October 3, 2017

The GBP/USD assumed further journey southwards on Monday. Price dropped by more than 90 pips, having dropped by 250 pips since the beginning of last week. Since the outlook on GBP pairs remains bearish for this week, it is anticipated that price would continue going downwards, reaching another accumulation territories at 1.3250, 1.3200 and 1.3150.

EUR/USD: This pair was pushed lower on October 2, and it is now below the resistance line at 1.1750, going towards the support line at 1.1700 (an initial target). Other targets for bears are the support lines at 1.1650 and 1.1600, which could be reached within the next few days. The outlook on EUR pairs is bearish for this month, and thus, the EUR/USD would go bearish in most cases.

USD/CHF: This currency trading instrument showed some bullishness yesterday – and it is already in a bullish mode. As the EUR/USD goes further south, the USD/CHF will go further north. At first, the northwards journey would seem limited because of some attempts to gather stamina on the part of CHF. However, the bulls would become clear winners by the end of the month, for USD would have gained some strength by then.

GBP/USD: The GBP/USD assumed further journey southwards on Monday. Price dropped by more than 90 pips, having dropped by 250 pips since the beginning of last week. Since the outlook on GBP pairs remains bearish for this week, it is anticipated that price would continue going downwards, reaching another accumulation territories at 1.3250, 1.3200 and 1.3150.

USD/JPY: There is a bullish bias on the USD/JPY. This week and this month, the movement in the market would be determined by whatever happens to USD. A stronger USD would mean the market would continue going north, while a weaker USD would result in a protracted bearishness that could eventually lead to a “sell” signal.

EUR/JPY: This cross traded lower on Monday, thus generating a “sell” signal in the market. It is likely that the demand zones at 132.00, 131.50 and 131.00 would be tested soon. One factor that may make this expectation possible is the weakness in EUR itself. It would be difficult for the cross to go seriously upwards when EUR is very weak.

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

439

Daily analysis of major pairs for October 9, 2017

The GBP/USD dropped by 320 pips last week, having dropped more than 480 pips since September 25, when the initial “sell” signal was generated. There is a huge Bearish Confirmation Pattern in the market, and further downwards movement is expected this week. There could, however, be a rally before the end of the week.

EUR/USD: Since September 25, the EUR/USD has lost roughly 200 pips. The current kind of the market situation favors selling on short-term rallies (as indicated by the recent price action). Price moved briefly below the support line at 1.1700 but closed above it on Friday. Once price turns south again, another clean opportunity would emerge, which would enable selling at slightly higher and better prices.

USD/CHF: This pair has been bullish for the past few weeks, moving briefly above the resistance level at 0.9850, and closing below it on Friday. The outlook on the market is bullish for this week, but the bullish movement would be limited as long as CHF is not that vulnerable. The ongoing bullishness also would be supported for some time by the weakness in the EUR/USD

GBP/USD: The GBP/USD dropped by 320 pips last week, having dropped more than 480 pips since September 25, when the initial “sell” signal was generated. There is a huge Bearish Confirmation Pattern in the market, and further downwards movement is expected this week. There could, however, be a rally before the end of the week.

USD/JPY: This trading instrument has been able to maintain its bullishness in spite of the ongoing equilibrium phase in the market. A movement above the supply level at 114.00 would affirm the long-term bullish bias, while a movement below the demand level at 111.00 would result in bearish bias. One of these two conditions would be met this week, since it is expected that momentum would soon go out of balance.

EUR/JPY: This cross is bullish in the long-term, but bearish in the short-term. Price did practically nothing last week, but a closer look at the market reveals that bears are subtly gaining upper hands, and they may push price lower this week, as it tests the demand zones at 132.00, 131.50 and 131.00. But that would not be serious enough to become a threat to the overall bullish bias.

Source: www.instaforex.com

440

Daily analysis of major pairs for October 10, 2017

On Monday, the EUR/USD went upwards in the context of a downtrend. Unless price goes above the resistance line at 1.1850 (which would require a strong buying pressure), the upwards movement would create a good opportunity to go short at a better price. The support lines at 1.1750 and 1.1700 could thus be tested again.

EUR/USD: On Monday, the EUR/USD went upwards in the context of a downtrend. Unless price goes above the resistance line at 1.1850 (which would require a strong buying pressure), the upwards movement would create a good opportunity to go short at a better price. The support lines at 1.1750 and 1.1700 could thus be tested again.

USD/CHF: The USDCHF, on October 9, has moved further sideways, while the bias remains bullish. This pair has been bullish for the past few weeks, but further sideways movement could result in a neutral bias. So in order for a neutral bias not to form, there is a need for a directional movement.

GBP/USD: The GBP/USD went upwards yesterday in a context of a downtrend. Price could test the distribution territories at 1.3200 and 1.3250, but it would turn southwards to reach the accumulation territories at 1.3100 and 1.3050, which has been previously tested.

USD/JPY: There is an ongoing equilibrium phase in the market. A movement above the supply level at 114.00 would affirm the long-term bullish bias, while a movement below the demand level at 111.00 would result in bearish bias. One of these two conditions would be met this week, since it is expected that momentum would soon go out of balance.

EUR/JPY: This cross is bullish in the long-term, and now, neutral in the short-term. Price did practically nothing yesterday, but a closer look at the market reveals that bulls are subtly gaining upper hands, and they may push price upwards this week, as it goes towards the supply zone at 133.00, 133.50 and 134.00.

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

441

Daily analysis of major pairs for October 16, 2017

The EUR/USD is bullish both in the long-term and the short-term. However, the outlook on this pair is bearish for this week, and so it is for other EUR pairs. Therefore, the shallow bearish correction that was started last Friday could go on to become something significant as price goes towards the support lines at 1.1750 and 1.1700.

EUR/USD: The EUR/USD is bullish both in the long-term and the short-term. However, the outlook on this pair is bearish for this week, and so it is for other EUR pairs. Therefore, the shallow bearish correction that was started on Friday could go on to become something significant as price goes towards the support lines at 1.1750 and 1.1700.

USD/CHF: There is still some bullishness on the USD/CHF. This week, the movement of price would be determined by whatever happens to the EUR/USD. When EUR/USD goes upwards, the USD/CHF would have a limited bullish movement. When the former goes down, the latter would find it easy to go upwards.

GBP/USD: The Cable is now bullish both in the short-term and the long-term. There is a Bullish Confirmation Pattern in the market, which would become more conspicuous as price goes further upwards towards the distribution territories at 1.3300 and 1.3350. There are accumulation territories at 1.3200 and 1.3151, which would try to hinder some bearish attempts.

USD/JPY: This pair is bearish in the short-term, though the bullish bias is not completely over. There is a possibility that price would continue to go southwards this week, moving below the demand levels at 111.50, 111.00 and 110.50. Should this happen, the bullish bias would then be over.

EUR/JPY: This currency trading instrument is bullish in the long-term, while there is a bearish threat in the short-term. Since the outlook on EUR pairs is bearish for this week, it is possible that price would continue to go downwards towards the demand zones at 132.00, 131.50 and 131.00. A northwards movement of 150 pips from here would render this expectation invalid.

Source: www.instaforex.com

442

Daily analysis of major pairs for October 17, 2017

The USD/CHF simply consolidated yesterday, but a rise in momentum is expected any time this week. Soon, price would either go above the resistance level at 0.9850; or it would go below the support level at 0.9650, creating a directional bias on the market.

EUR/USD: The EUR/USD has been going downwards gradually since Friday, creating a directionless scenario on the market. It is better to stay away from the market until there is a strong breakout to the upside or to the downside, which would create a directional bias (a movement of about 200 pips).

USD/CHF: The USD/CHF simply consolidated yesterday, but a rise in momentum is expected any time this week. Soon, price would either go above the resistance level at 0.9850; or it would go below the support level at 0.9650, creating a directional bias on the market.

GBP/USD: The Cable is now bullish both in the long-term. There is a Bullish Confirmation Pattern in the market, which would become more conspicuous as price goes further upwards towards the distribution territories at 1.3300 and 1.3350. There are accumulation territories at 1.3200 and 1.3151, which would try to hinder some bearish attempts.

USD/JPY: On Monday, this currency trading instrument bounced upwards in the context of a short-term downtrend. Further upwards movement above the supply level at 113.00 would result in a bullish bias; while a movement to the downside would confirm the recent short-term bearish bias on the market.

EUR/JPY: This currency trading instrument is bullish in the long-term. The outlook on EUR pairs is bearish for this week, it is possible that price would continue to go downwards towards the demand zones at 132.00 (which was previously tested), 131.50 and 131.00. A northwards movement of 150 pips from here would render this expectation invalid.

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

443

Daily analysis of major pairs for October 23, 2017

The USD/JPY started making bullish efforts at the beginning of last week, and the efforts were successful. Price gained 170 pips, testing the supply level at 113.50 on Friday. The outlook on the market is bullish for this week, owing to the expected stamina in USD and expected weakness in JPY. Thus, the supply levels at 114.00 and 114.50 would be tested. A very strong bullish momentum could even cause another supply level at 115.00 to be reached.

EUR/USD: This pair moved downwards on Monday and Tuesday, moved upwards on Wednesday and Thursday and then came down on Friday. The erratic (zigzag) movement has resulted in a neutral bias, which would be overridden this week as price goes above the resistance line at 1.1900, or it would go below the support line at 1.1700. Price must breach either of these two boundaries for the current neutral bias to end (and this would require a strong momentum). However, a movement to the downside is more likely this week, owing to a strong bearish outlook on EUR pairs.

USD/CHF: The market is bullish in shorter-term and longer-term. Price has gained 110 pips this month, and the resistance level at 0.9850 has been tested (it would be tested again). This week, the resistance levels at 0.9900 and 0.9950 would be aimed. Two factors would me this possible: 1) an expected stamina in USD. 2) an expected fall in the EUR/USD.

GBP/USD: The price of the Cable has gone downwards by 170 pips last week, resulting in a Bearish Confirmation Pattern in the 4-hour chart. The shallow rally that happened on October 20 could end up being an opportunity to go short at a slightly higher price, for price would continue moving downwards this week, reaching the accumulation territories at 1.3150, 1.3100 and 1.3050.

USD/JPY: The USD/JPY started making bullish efforts at the beginning of last week, and the efforts were successful. Price gained 170 pips, testing the supply level at 113.50 on Friday. The outlook on the market is bullish for this week, owing to the expected stamina in USD and expected weakness in JPY. Thus, the supply levels at 114.00 and 114.50 would be tested. A very strong bullish momentum could even cause another supply level at 115.00 to be reached.

EUR/JPY: This cross consolidated in the first few days of last week, and then started moving northwards around the middle of the week. The market gained close to 200 pips, closing above the demand zone at 133.50 on Friday. This week, further bullish movement is expected because the outlook on certain JPY pairs is bullish for the week. The supply zones at 134.00, 134.50 and 135.00 could thus be reached.

Source: www.instaforex.com

444

Daily analysis of major pairs for October 24, 2017

The USD/JPY opened with a minor gap-up this week, rammed into the supply level at 114.00 and then got corrected lower. The bias on the market is bullish, and therefore, price is expected to rise from here, testing the supply level at 114.00 again, breaching it to the upside, and going further northwards.

EUR/USD: The EUR/USD did not move significantly on Monday. However, a movement that is directional is expected this week, which would either take price above the resistance line at 1.1850 or below the support line at 1.1700. Until one of the two boundaries are breached, the bias on the market would be neutral.

USD/CHF: On October 23, this pair moved briefly above the resistance level at 0.9850, and then moved below it. This week, the resistance levels at 0.9900 and 0.9950 would be aimed. Two factors would me this possible: 1) an expected stamina in USD. 2) an expected fall in the EUR/USD.

GBP/USD: The Cable consolidated yesterday, and price is currently moving against the extant bearish signal. The movement would be seen as a rally in the context of an uptrend until the distribution territory at 1.3300 is breached to the upside. Normally, a movement to the downside is anticipated from here.

USD/JPY: The USD/JPY opened with a minor gap-up this week, rammed into the supply level at 114.00 and then got corrected lower. The bias on the market is bullish, and therefore, price is expected to rise from here, testing the supply level at 114.00 again, breaching it to the upside, and going further northwards.

EUR/JPY: What happened on the EUR/JPY is quite similar to what happened on USD/JPY. The market opened with a gap-up, touching the supply zone at 134.00 and then fell by 70 pips. Nonetheless, that was not enough to override the current bullish bias. Therefore, the drop in the market would be an opportunity to enter at a better price.

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

445

Daily analysis of major pairs for October 30, 2017

The USD/CHF went upwards last week, gaining about 180 pips. Price went briefly above the strong resistance level at 1.0000 (as USD and CHF gained a momentary parity). The parity would be achieved again this week as the market goes towards the resistance levels at 1.0000, 1.0050 and 1.0100. However, the parity would be transient because an expected rise on EUR/USD would result in a selling pressure on the USD/CHF.

EUR/USD: This currency trading instrument consolidated from October 23 to 25, and then dropped about 230 pips on October 26 and 27. The support lines at 1.1550, 1.1500 and 1.1450 could be reached this week, as price drops further. The outlook on the market is bearish for this week, but bullish for November (the outlook on EUR pairs). So the price would eventually rally to gain at least 300 pips in November.

USD/CHF: The USD/CHF went upwards last week, gaining about 180 pips. Price went briefly above the strong resistance level at 1.0000 (as USD and CHF gained a momentary parity). The parity would be achieved again this week as the market goes towards the resistance levels at 1.0000, 1.0050 and 1.0100. However, the parity would be transient because an expected rise on EUR/USD would result in a selling pressure on the USD/CHF.

GBP/USD: The GBP/USD has been caught in short-term upswings and downswings. Soon, there would be a rise in volatility, which would propel price above the distribution territory at 1.3300 or below the accumulation territory at 1.3000. GBP pairs would undergo very strong movements in November, which would be bullish in most cases.

USD/JPY: This pair made a feint bullish effort last week, but it did not close above the supply level at 114.00. There is a lot of activity around that supply level, and price would eventually close above it as it journeys further upwards this week, because the outlook on certain JPY pairs is bullish for the week; plus USD is expected to retain some of the stamina in it.

EUR/JPY: Most EUR pairs plummeted in the last few days of last week, and the EUR/JPY cross also was not spared. Price initially made some bullish effort on Monday to Wednesday, but further bullish effort was rejected at the supply zone at 134.50 – a point from which price dropped 260 pips. While the demand zones at 131.50 and 131.00 could be tested before price rallies, price could reach the stubborn supply zone at 134.50 again (which would be attained within the next few weeks).

Source: www.instaforex.com

446

Daily analysis of major pairs for October 31, 2017

The EUR/JPY traded lower on Monday, reaching the demand zone at 131.50. There is a Bearish Confirmation Pattern in the 4-hour chart, which means that price is expected to go further downwards this week, reaching the demand zones at 131.00 and 130.50.

EUR/USD: What has recently happened on the EUR/USD is what can best be described as a rally in the context of a downtrend. Further rally may take price towards the resistance line at 1.1700, which would be tested before price goes downwards. Otherwise, a breach of the resistance line at 1.1750 would result in a new bullish bias.

USD/CHF: What has recently happened on the USD/CHF is what can best be described as a pullback in the context of a uptrend. Further pullback may take price towards the support level at 0.9900, which would be tested before price goes upwards. Otherwise, a breach of the support level at 0.9850 would result in a new bearish bias.

GBP/USD: This pair is still caught in a broad equilibrium phase. Soon, there would be a rise in volatility, which would propel price above the distribution territory at 1.3300 or below the accumulation territory at 1.3000. GBP pairs would undergo very strong movements in November, which would be bullish in most cases.

USD/JPY: This currency trading instrument came downwards on October 30 – something that has become a threat to the recent bullish outlook on the market. Unless price goes upwards from here (which would save the bullish outlook), things would go bearish once the demand levels at 112.50 is breached to the downside.

EUR/JPY: The EUR/JPY traded lower on Monday, reaching the demand zone at 131.50. There is a Bearish Confirmation Pattern in the 4-hour chart, which means that price is expected to go further downwards this week, reaching the demand zones at 131.00 and 130.50.

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