Instaforex Trading Forecasts

[Forecast]

The USD/CHF made an effort to test the great resistance level at 0.9000, and the price got retraced after this was done. The market tested that resistance level several weeks ago, but it was unable to break it to the upside. There is now a need to break the resistance level to the upside, so that the bullish journey might continue.

EUR/USD: This pair is now very bearish: the price tested the support line at 1.3500 last week and the price bounced upwards temporarily after that. There is a resistance line at 1.3550 (plus another one at 1.3600). These resistance lines ought to act as a great impediment to any rallies that may jeopardize the bearish effort this week. It is possible that the price tests the support line at 1.3500 again and possibly break it to the downside.

USD/CHF: The USD/CHF made an effort to test the great resistance level at 0.9000, and the price got retraced after this was done. The market tested that resistance level several weeks ago, but it was unable to break it to the upside. There is now a need to break the resistance level to the upside, so that the bullish journey might continue. Should the price fail to do this, things may turn bearish.

GBP/USD: The inability of the Cable to continue its upward journey has resulted in a serious threat to the recent bullish bias. In fact, short trades have begun to make more sense than long trades in this market and the break of the accumulation territory at 1.7050 would mean that it is completely irrational to seek long trades.

USD/JPY: This market moved downwards and later got some bullish correction on Friday, July 18, 2014. The price closed at 101.33 – it could go further downwards because there is a Bearish Confirmation Pattern in the chart.

EUR/JPY: This cross dropped by over 160 pips last week, before it began to experience shallow bullish correction. The price is expected to go again below the supply zone at 137.00. Meanwhile, the supply zone at 137.50 is a barrier to further bullish correction.

Source: www.instaforex.com

[Forecast]

There is a Bearish Confirmation Pattern on the Cable, brought about by the inability of the price to go determinedly upwards. The price is currently trading below the distribution territory at 1.7100, and a break below the accumulation territory at 1.7050 would mean a new lease of bearish energy.

EUR/USD: This is a bear market, and the break of the support line at 1.3500 would show the bears’ determination to continue pushing the price southward. This support line was tested last week, before the price bounced upwards. For the southward journey to continue, the price must test the support line again, and break it to the downside.

USD/CHF: This is a bull market, and the break of the resistance level at 0.9000 would show the bulls’ determination to continue pushing the price northward. This resistance level was tested last week, before the price pulled back southwards. For the northward journey to continue, the price must test the resistance level again, and break it to the upside.

GBP/USD: There is a Bearish Confirmation Pattern on the Cable, brought about by the inability of the price to go determinedly upwards. The price is currently trading below the distribution territory at1.7100, and a break below the accumulation territory at 1.7050 would mean a new lease of bearish energy.

USD/JPY: The USD/JPY is weak and the current upward bounce is supposed to be temporary: the price may turn downwards from that point, going towards the demand level at 101.00, which is a desirable target for the bears. On the other hand, any movement above the supply level at 101.50 would make short trades illogical in the market.

EUR/JPY: The outlook on this cross is southward, but there is a kind of consolidation in the market at the present. There is a lot of activity around the price zone at 137.00; but the price must go below the zone, so that the southward outlook can continue.

Source: www.instaforex.com

Learn from the Generals of the Markets: Market Generals

[Forecast]

The bullish trend on the USD/CHF is now very strong. Interestingly, the market has tested the resistance level at 0.9050, and with the continuation of the trend, the market may go towards the resistance level at 0.9100.

EUR/USD: The bearish outlook on the EUR/USD is currently very strong. On Friday, July 25, 2014, the price closed at 1.3428, in a serious bearish tone. The price is currently trading below the resistance line at 1.3450. The price may then go towards the support line at 1.3400.

USD/CHF: The bullish trend on the USD/CHF is now very strong. Interestingly, the market has tested the resistance level at 0.9050, and with the continuation of the trend, the market may go towards the resistance level at 0.9100. This is the target for this week, and it is prudent to seek long trades now.

GBP/USD: The Cable dropped by up to 130 pips last week, as a result of the perceived weakness on it. The clear Bearish Confirmation Pattern in the chart ensures that the probability of the price going further downwards is great. The market may first test the accumulation territory at 1.6950; it may then go towards the accumulation territory at 1.6900.

USD/JPY: This is a bull market, but the possibility of significant bullish movement would be limited, and therefore, intraday traders and scalpers may want to take their profits at the supply level of 102.00. This is a level where the price could have a deep pullback, unless the buyers are seriously willing to push the price past that supply level.

EUR/JPY: As it was mentioned on Friday, the supply zone at 137.00 would challenge the latest rally in the context of a downtrend. The demand zone at 136.50 could be retested: it could even be breached to the downside, as the price goes towards the demand zone at 136.00

Source: www.instaforex.com

[Forecast]

The current consolidation phases in the markets are supposed to be short-lived because momentum would return to the markets. For instance, the USD/CHF could retest the resistance level at 0.9050. The bias on the pair is bullish and this is expected to continue.

EUR/USD: This is a bear market, and in contrast to what the USD/CHF is doing, the market is going downwards. The price is below the resistance line at 1.3450, going towards the support line at 1.3400. The aforementioned resistance line should serve as obstruction to any short-term rallies on the way.

USD/CHF: The current consolidation phases in the markets are supposed to be short-lived because momentum would return to the markets. For instance, the USD/CHF could retest the resistance level at 0.9050. The bias on the pair is bullish and this is expected to continue. When the resistance level is broken to the upside, the next target would be another resistance level at 0.9100. This is a point at which the price could turn downwards later. But right now, enjoy the bullish ride.

GBP/USD: The Cable is currently weak – with the Bearish Confirmation Pattern in the market. The market is below the distribution territory at 1.7000. This distribution territory is supposed to serve as an impediment to any rallies along the way (which could jeopardize the extant bearish bias). When the bearish bias continues, the accumulation territory at 1.6950 would be tested.

USD/JPY: The USD/JPY is currently a strong currency trading instrument. However, the bullish run would be limited and intraday bulls might want to take their profits at the supply level of 102.00.

EUR/JPY: Like a few other JPY pairs, this market is weak and the weakness is supposed to continue. The market could test the demand zone at 136.50 again.

Source: www.instaforex.com

Learn from the Generals of the Markets: Market Generals

[Forecast]

The USD/JPY pulled back seriously after testing the supply level at 103.00. For the bullish bias to remain valid, the price must stay above the demand level at 102.00.

EUR/USD: This is a bear market in spite of the rally that occurred in the market on Friday, the rally is seen as a good opportunity to sell short in the context of a downtrend. Only a movement above the resistance line at 1.3450 would render the bullish bias invalid. The price has the potential to go further downwards towards the support line at 1.3350.

USD/CHF: This currency pair is still considered strong despite the pullback that is being shown on it. The strength in the market would still make sense as long as the price is above the support level at 0.9000. From the current price position (the support level at 0.9050), the price could go upwards towards the resistance level at 0.9100 again.

GBP/USD: The Cable remains a weak instrument, with very little determination to go north. The determination to go south is far stronger and the price may test the accumulation territories at 1.6800 and 1.6750 this week.

USD/JPY: The USD/JPY pulled back seriously after testing the supply level at 103.00. For the bullish bias to remain valid, the price must stay above the demand level at 102.00. Any movement below the demand level at 102.00 would put the bullish bias in jeopardy, meaning that long trades would no longer be sensible. For the bullish bias to continue, the price must again test the supply level at 103.00, even breaking it to the upside.

EUR/JPY: On Friday, August 1, 2014, this crossed closed at 137.78. As a result of the sudden weakness in the Yen, the cross has been given a new lease of energy. Long trades now make sense, for the price has possibility that it could reach the supply zone at 138.50 in this week.

Source: www.instaforex.com

[Forecast]

There is now a shallow rally on the Cable, but the rally is expected to be short-lived. The price could go further south, reaching the accumulation territory at 1.6800.

EUR/USD: The scenario on this pair is quite similar to the scenario on the Cable. The market is bearish and the latest price action shows an upward bounce – a transitory action. The bearish trend could continue when the weakness of the Euro becomes renewed, pushing the price further downwards towards the support line at 1.3350.

USD/CHF: The USD/CHF has experienced a serious (but not very deep) pullback in the context of the extant uptrend. The pullback appears to have been put on check at the support level of 0.9050. While any movement below the support level at 0.9000 would mean the end of the bullish bias, the price could go further upwards from its current level, trying to test the resistance level at 0.9100.

GBP/USD: There is now a shallow rally on the Cable, but the rally is expected to be short-lived. The price could go further south, reaching the accumulation territory at 1.6800. The Bearish Confirmation Pattern in the chart is still a valid thing; hence the southward outlook is also valid.

USD/JPY: This market has continued its bearish correction since it tested the supply level at 103.00. That level was tested a few times last week before the present bearish correction. For the bullish outlook to continue to make sense, the price needs to go towards that supply level again, possibly breaking it to the upside.

EUR/JPY: The novel northwards outlook on this currency instrument is currently facing a challenge. This is brought about by the precarious stamina in the Euro. Nevertheless, the price needs to break the supply zone at 138.00 to the upside, if the present bullish signal would continue to make sense.

Source: www.instaforex.com

Learn from the Generals of the Markets: [Market Generals](Learn from the Generals of the Markets: http://www.amazon.co.uk/Learn-Generals-Market-Azeez-Mustapha/dp/1908756314)

[Forecast]

The USD/CHF closed at 0.9055 on Friday (August 8, 2014). This pair is having a serious difficulty breaking the resistance level 0.9100 to the upside. In fact, the price has dropped by about 50 pips since the resistance level was challenged.

EUR/USD: On this pair, there has been a rally in the context of a downtrend. This gives a clean opportunity for a renewed short trade, which could take the price further south. The price may test the support line at 1.3350 again: it may even break it to the downside and close below it.

USD/CHF: The USD/CHF closed at 0.9055 on Friday (August 8, 2014). This pair is having a serious difficulty breaking the resistance level at 0.9100 to the upside. In fact, the price has dropped by about 50 pips since the resistance level was challenged. The price needs to go upwards again to test the resistance level so as to allow for the continuation of the uptrend. Otherwise, the trend could turn bearish, especially when the price crosses the support level at 0.9000 to the downside and closes below it.

GBP/USD: The Cable dropped by around 70 pips last week – in spite of some desperate effort by the bulls to push the price upwards. The pushing of the price upwards resulted in a nice short-selling signal, which has now dragged the price below the distribution territory at 1.6800. The next target in the market is at the accumulation territory of 1.6750.

USD/JPY: Despite the volatility in the market, this currency trading instrument remains bearish. There is a Bearish Confirmation Pattern in the chart, and the price could go further south, till it reaches the demand level at 101.50.

EUR/JPY: The rally on the EUR/JPY should be transient, especially for the current bearish outlook to be valid. Any movement above the supply zone at 137.50 could render the bearish outlook useless.

Source: www.instaforex.com

[Forecast]

The Cable is now trading below the distribution territory at 1.6800. The next target in the context of the extant bearish bias is the accumulation territory at 1.6750.

EUR/USD: On this pair, trading last week closed with a small rally in the context of a downtrend. Since then, the price has assumed another leg of bearish journey and the price may test the support line at 1.3350.

USD/CHF: On this pair, trading last week closed with a sale in the context of an uptrend. Since then, the price has assumed another leg of bullish effort and the price may test the resistance level at 0.9100 again. In fact, there is a need for that resistance level to be breached to the upside as the price closes above it. This is what can make the bullish journey continue.

GBP/USD: The Cable is now trading below the distribution territory at 1.6800. The next target in the context of the extant bearish bias is the accumulation territory at 1.6750. Should the bearish movement become strong enough, the price may even reach the accumulation territory at 1.6700. Meanwhile, the possibilities of rallies ought not to take the price above the distribution territories at 1.6850 and 1.6900.

USD/JPY: The price action in the market reveals an ongoing serious battle between the bulls and the bears, with the bulls flexing their muscles. The bias is still bearish but the market should not take the price above the supply level at 102.50, so that the current bias would not be rendered invalid.

EUR/JPY: The situation on this cross is nearly similar to the situation on the USD/JPY. After testing the demand zone at 136.50, the price bounces upwards, going towards the supply zone at 137.00. That supply zone ought to act as an impediment to the bulls’ threats; otherwise the bearish outlook would become illogical.

Source: www.instaforex.com

Learn from the Generals of the Markets: Market Generals

[Abdul2012]

Thank you so much for the useful info.

[Forecast]

Thank you so much for the useful info.

Thank you also, for your compliments. Kind regards…

[Forecast]

Rather than going upwards, the USD/CHF broke below the resistance level at 0.9050. This has resulted in a clean ‘sell’ signal, and a movement below the support level at 0.9000 would mean the total end of the bullish bias.

EUR/USD: Since the strong support line at 1.3350 was tested several times last week, and the market has been unable to go downwards, it looks like the market has formed a base. It has begun to consolidate to the upside, but there is a challenge at the resistance line of 1.3400. For a ‘buy’ signal to make sense, the resistance level must be broken to the upside as the price journeys northwards. One may wait until this condition is met before taking a position.

USD/CHF: Rather than going upwards, the USD/CHF broke below the resistance level at 0.9050. This has resulted in a clean ‘sell’ signal, and a movement below the support level at 0.9000 would mean the total end of the bullish bias. There is already a Bearish Confirmation Pattern in the chart - long trades are no longer logical.

GBP/USD: There is another short-term base on the Cable, as it fails to continue going downwards. This is the prognosis for the week: A break below the accumulation territory at 1.6650 would means the bearish trend would continue, and a break above the distribution territory at 1.6800 would mean the beginning of another bullish outlook.

USD/JPY: Here, the bears battered the bulls on Friday and the price went downwards. However, the bullish bias could still be considered valid as long as the price stays above the demand level at 102.00

EUR/JPY: The event affecting the Euro is showing the possibility that it may gain some stamina. This cross closed at 137.15 on Friday, August 15, 2014. This is on a bullish note, which is rational as long as the price is above the demand zone at 136.50.

Source: www.instaforex.com

[Forecast]

The USD/JPY has broken above our target at the demand level of 103.00. The Bullish bias is now quite strong. The next target is at the supply level at 130.50.

EUR/USD: This pair is weak and the weakness is supposed to continue. The price is currently testing the support line at 1.3300, and there is a high probability that the price would end up closing below the support line.

USD/CHF: This pair is strong and the stamina is supposed to continue. The price is currently moving above the formidable support level at 0.9100. This is a great achievement for the bulls, and there is a high probability that the price would end up testing the resistance level at 0.9150. That resistance level is another hurdle to be overcome.

GBP/USD: This market has dropped by over 550 pips since the middle of July 2014. The Bearish Confirmation Pattern is very strong, and the price could easily breach the accumulation territory at 1.6600 to the downside.

USD/JPY: The USD/JPY has broken above our target at the demand level of 103.00. The Bullish bias is now quite strong. The next target is at the supply level of 130.50. Because of the Bullish Confirmation Pattern in the chart, the possibility that the price would go further northward is strong.

EUR/JPY: The Euro remains weak generally, but as a result of more weakness in the Yen (the Yen is weaker than the Euro), this cross has broken out to the upside. Any movement above the supply zone at 137.50 would give more weight to the current ‘buy’ signal in the market.

Source: www.instaforex.com

Learn from the Generals of the Markets: Market Generals

[Forecast]

The USD/JPY has already tested the supply level at 104.00. Should that supply level gets breached to the upside, the next target in the chart would be the supply level at 104.50.

EUR/USD: This pair has been able to continue its southward journey. As it was accurately forecasted, the last rally in the market proffered a short-selling opportunity. On Friday, August 22, 2014, the price closed at 1.3239. The price is now trading below the resistance line at 1.3250; it might reach the support line at 1.3200 this week.

USD/CHF: This pair has been able to continue its northward journey. As it was accurately forecasted, the last dip in the market proffered an opportunity to go long. The resistance level at 0.9150 has already been tested, and with renewed effort from the bulls, the price may close above that resistance level and go further upwards to another resistance level at 0.9200.

GBP/USD: This is a weak market, and the price has been able to stay below the distribution territory at 1.6600. Following the current pause in the trending move, the price may test the accumulation territory at 1.6550.

USD/JPY: The USD/JPY has already tested the supply level at 104.00. Should that supply level gets breached to the upside, the next target in the chart would be the supply level at 104.50. Right now, the Bullish Confirmation Pattern in the market is very strong, and therefore, short trades are currently not logical here.

EUR/JPY: This market is a bull market – as long as the price stays above the demand zone at 137.00. There is a bearish retracement in the market but it is likely that the price would turn upwards and test the supply zone at 138.00.

Source: www.instaforex.com

[Forecast]

This week, the currency markets opened with gaps in certain cases. The gaps have proffered wonderful trading opportunities and the markets would move significantly this week.

EUR/USD: There is a gap-down on the EUR/USD, after which the market does not make any significant move. Trading below the resistance line at 1.3200, the market could potentially go towards the support line at 1.3150. Any movement above the resistance line at 1.3250 would pose a formidable threat to the current bearish outlook.

USD/CHF: After the gap-up that happened on it at the open of the market this week, this currency trading instrument has been subjected to a serious tug-of-war between the bull and the bear. There is a support level at 0.9150 and a resistance level at 0.9200. For the bulls to win, the price must test the aforementioned resistance level, and for the bears to win, the price must cross the aforementioned support level, closing below it.

GBP/USD: This week, the currency markets opened with gaps in certain cases. The gaps have proffered wonderful trading opportunities and the markets would move significantly this week. For instance, there has been a gap-down on the Cable, after which the market tries to rally. However, the bears are not going to make it easy for the bulls: the price direction today is what would determine the direction for the rest of this week.

USD/JPY: There is a gap-up on the USD/JPY. After that, the market tried to trend downwards, but the demand level at 104.00 is acting as a barrier to the downward movement. The market may come down again to challenge that demand level.

EUR/JPY: This cross has been weakened again, and that weakness has become a threat to the recent ‘buy’s signal in the market. In fact, any move below the demand zone at 137.00 would mean the end of the bullish outlook.

Source: www.instaforex.com

Learn from the Generals of the Markets: Market Generals

[Forecast]

The USD/CHF has been able to stay above the support level at 0.9150. In fact, the price is now trading upwards, going towards the resistance level at 0.9200. That is the target for this week.

EUR/USD: With the clean Bearish Confirmation Pattern in the market, this pair has the potential to move further southward. One reason for this is the palpable weakness in the Euro. The price may go further south, testing the support line at 1.3100. The outlook for this week is generally bearish.

USD/CHF: The USD/CHF has been able to stay above the support level at 0.9150. In fact, the price is now trading upwards, going towards the resistance level at 0.9200. That is the target for this week.

GBP/USD: The GBP/USD is still caught in its consolidation to the upside. The GBP is not as weak as the EUR and therefore, the Cable seems poised for an exponential breakout that may favor buyers. This can result in a long-term uptrend and it would materialize as soon as the price crosses the distribution territory at 1.6650 to the upside.

USD/JPY: This pair is also trending upwards and it may reach the supply level at 104.50 this week. On Friday, August 29, 2014, the price closed at 104.08. This close was slightly above the demand level at 104.00, and the price may go further downwards from there. The market is presently strong.

EUR/JPY: There is no question about it: the bearish signal that was generated last week on this cross is still valid. The validity holds in spite of the visible volatility in the market. The price may go more bearish and test the demand zones at 136.50 and 136.00 respectively.

Source: www.instaforex.com

[Forecast]

It is not a surprise that the USD/JPY has been able to continue its bullish journey. Even, a weak currency like the EUR is now up against the JPY, for the latter is very weak right now.

EUR/USD: In a slow and a steady manner, the EUR/USD has been able to continue its weakness, gradually breaking one support line after the other. There is a Bearish Confirmation Pattern in the chart. The price now is below the resistance line at 1.3150, and it may end up testing the support line at 1.3100.

USD/CHF: This currency trading instrument has been able breach the support level at 0.9200 to the upside. The price has closed above that level; currently poised to move further upwards. However, this may be in a slow and steady manner.

GBP/USD: The GBP/USD has been consolidating seriously lately. The GBP is strong on its own, but it is still weaker than the USD: hence the current price action. The volatility may cause the price to test the accumulation territory at 1.6550. The same volatility may also cause the price to reach the distribution territory at 1.6650.

USD/JPY: It is not a surprise that the USD/JPY has been able to continue its bullish journey. Even, a weak currency like the EUR is now up against the JPY, for the latter is very weak right now. The USD/JPY has been able to go above the demand level at 104.50. The next target is at the supply level of 105.00.

EUR/JPY: Really, the JPY is now so weak that, even a weak currency like the EUR can go up against it. That is the case which made this cross jumped upwards significantly. The jump up is significant enough to override the recent bearish outlook. The price is now trading above the demand zone at 137.50, and it should go further upwards, reaching the supply zone at 138.00. There is now a bullish signal in the market.

Source: www.instaforex.com

Learn from the Generals of the Markets: Market Generals

[Forecast]

The strength in the USD/CHF has continued, although there was a shallow bearish retracement in the chart on Friday, September 5, 2014. The price closed at 0.9310, and it is expected that it may go further upwards this week.

EUR/USD: The EUR/USD trended southward in a significant mode last week. This trend has a high probability of continuing this week, but the possibility of rally attempts cannot be ruled out. The attempted rallies may cause the price to reach the resistance lines at 1.3050 and 1.3100 successively.

USD/CHF: The strength in the USD/CHF has continued, although there was a shallow bearish retracement in the chart on Friday, September 5, 2014. The price closed at 0.9310, and it is expected that it may go further upwards this week. It may reach the supply level at 0.9350.

GBP/USD: The Cable also dived significantly last week – in a clean positive correlation with its EUR/USD counterpart. The dive might continue this week, taking the price towards the accumulation territory at 1.6250. Meanwhile, the distribution territories at 1.6400 and 1.6450 ought to act as barriers to the bulls’ machinations along the way.

USD/JPY: The USD/JPY has always been making bullish effort in recent times, with a measure of success. Since the model used in this analysis gave a ‘buy’ signal on August 11, 2014, the price has gone upwards by around 300 pips. The trend may not yet be over, for the price might test the supply level at 106.00 this week.

EUR/JPY: The massive sell-off that happened on this cross last week has resulted in a Bearish Confirmation Pattern in the chart. The weakness may likely continue, taking the price towards the demand levels at 135.50 and 135.00. However, it would take far more weakness in the EUR to accomplish it. Should the EUR recovers from its present weakness, the trend might change.

Source: www.instaforex.com

[Forecast]

The markets have been going according to expectation. For instance, the USD/JPY has already tested the supply level at 106.00. With more strength in the pair, the supply level might be breached to the upside; and the price may go upwards towards the demand level at 106.50.

EUR/USD: There is a long-term Bearish Confirmation Pattern in the market. With further weakness in this market, the price has tested the support line at 1.2900. Should the support line at 1.2900 get broken to the downside, the next target would be the support line at 1.2850.

USD/CHF: This is a bull market – which is supposed to continue as long as the EUR/USD is weak. The barriers that were once thought as being impregnable (the erstwhile resistance levels) have already be breached to the upside. The market may go further north, reaching another resistance level at 0.9400.

GBP/USD: With a strong weakness in this currency trading instrument, the Bearish Confirmation Pattern in the market is clean and straightforward. Moreover, the price opened this week with a gap-down. In fact, every GBP pair gapped up or down at the open of the markets. The price has trended downwards following the gap and this may be the stance for this week: further movement southwards.

USD/JPY: The markets have been going according to expectation. For instance, the USD/JPY has already tested the supply level at 106.00. With more strength in the pair, the supply level might be breached to the upside; and the price may go upwards towards the demand level at 106.50.

EUR/JPY: This cross which went downwards significantly last week, made serious bullish attempts on Monday. The bullish attempts have been formidable enough to pose threat to the recent ‘sell’ signal and the weakness in the Yen is one cause of this. Any movement above the supply zone at 137.50 would be the end of the bearish bias. However, as long as the price is below that supply zone, the bearish bias is valid.

Source: www.instaforex.com

[Forecast]

The EUR/JPY continues to be strong as a result of the weakness in the Yen and further bullish determination in the Euro. The Bullish Confirmation Pattern in the market is very conspicuous and one supply zone after the other has been breached. Right now, the price is moving above the demand zone at 139.00, going towards the supply zone at 140.00.

EUR/USD: This pair is still bearish in the long term, but bullish in the near term. The bulls have shown their determination to keep on making attempts for the price to go further upwards in spite of serious battering from the bears. A movement above the resistance line at 1.3050 would mean the end of the bullish outlook and the beginning of the bearish outlook. On the other hand, the price may become weak and go towards the support line at 1.2850. That is in the case when the bearish move is once again renewed.

USD/CHF: This currency trading instrument closed at 0.9332 (Friday, September 12, 2014); on a bullish note. There is an immediate support level at 0.9300, while the price is expected to go further north this week, testing the resistance level at 0.9400.

GBP/USD: Just like its EUR/USD counterpart, the Cable is also showing some determination to go further upwards, although the long-term bias is bearish. Any movement above the distribution territory at 1.6300 would mean the beginning of a new bullish journey, but the price may fall back towards the accumulation territory at 1.6150.

USD/JPY: This pair is strong and it is now above the demand level at 107.00. The first target for this week would be reached at the supply level of 107.50.

EUR/JPY: The EUR/JPY continues to be strong as a result of the weakness in the Yen and further bullish determination in the Euro. The Bullish Confirmation Pattern in the market is very conspicuous and one supply zone after the other has been breached. Right now, the price is moving above the demand zone at 139.00, going towards the supply zone at 140.00. That is our target for this week.

Source: www.instaforex.com

[Forecast]

The EUR/USD is still consolidating in the context of a downtrend; but when a breakout does occur, it is more likely to be in favor of the bears. There must be a break above the resistance line at 1.3000 before it could be said that the bearish trend is over.

EUR/USD: The EUR/USD is still consolidating in the context of a downtrend; but when a breakout does occur, it is more likely to be in favor of the bears. When this happens, price could go further downwards to test the support line at 1.2900 again. With sustained weakness in the market, the price may reach the support line at 1.2850. There must be a break above the resistance line at 1.3000 before it could be said that the bearish trend is over.

USD/CHF: This currency trading instrument is also still consolidating in the context of a downtrend, but when there is a bullish continuation, it could test the resistance level at 0.9400, which has been a dream target for the bulls. Attempts to reach this resistance level have been ongoing; and that is the target for this week.

GBP/USD: The GBP/USD has been making a serious attempt to go northward. The bias is bearish in the long-term but bullish in the near-term, but it cannot be said that the bearish trend is over until the price crosses the distribution territory at 1.6300 to the upside. A breakdown in the market may bring the price downwards towards the accumulation territory at 1.6100 again.

USD/JPY: This pair is also strong and it is currently trading above the demand level at 107.00: it could reach the supply level at 107.50. Meanwhile, the demand level at 106.50 could be a barrier to the bears’ machinations along the way.

EUR/JPY: The bullish outlook on this cross is still extant. From the demand zone at 136.00, the price has skyrocketed by over 300 pips. The price ought to go further north. There is now a shallow bearish retracement that may be retarded at demand zone of 138.00.

Source: www.tallinex.com

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