EUR/USD: The EUR/USD pair did not move very much yesterday.
The little movement that was seen was towards the downside in the context of an
uptrend. For the current bullish outlook to become illogical, the support lines
at 1.1000 and 1.0950 must be broken to the downside: otherwise the price could
make some renewed bullish attempts.
pair continues to move sideways while the overall outlook is bullish. What can
invalidate the bullish outlook is an event in which the price closes below the
support level at 0.9650. But in case it does not happen, this week can see
some considerable bullish attempts, especially if the USD tries to amass lots of
stamina. Right now the market is flat.
GBP/USD: At last, the GBP/USD pair has succeeded in going above
the defiant accumulation territory at 1.5650. The price was able to close
above that accumulation territory, trying to go towards the distribution
territory at 1.5700, which has been tested but yet to be breached to the
USD/JPY: There is no dominant trend in the market, but
it is expected that the price would either go above the supply level at 125.50
or below the demand level at 123.50 when a breakout occurs (following the
current sideways movement). Should this happen, that would mean a strong
bullish or bearish outlook.
EUR/JPY: This cross has continued its weakness, but
the Bullish Confirmation Pattern is not totally invalid. It would be OK to stay
away from this market – the EMA 11 is not below the EMA 56 and the RSI period
14 is not below the level 50. There are mixed signals.
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