EUR/USD: This pair has gone seriously upwards, moving
near the resistance line at 1.1250. With more buying pressure, the resistance
line would be breached to the upside as the price targets the resistance lines
at 1.1300 and 1.1350. The support lines at 1.1150 and 1.1100 could act as a test to any bearish attempts along the way.
USD/CHF: This
currency trading instrument continues to plunge. The price is now below the
resistance level at 0.9600, going towards the support level at 0.9500. The
levels can be touched today or next week, especially if bears hold out long
enough.
GBP/USD: The GBP/USD pair continues to make serious attempts
to go north, but the attempts are being subdued at the distribution territory
of 1.5700. This has become another adamant distribution territory (after the
one at 1.5650 was overcome following a long battle). This adamant distribution
territory must be overcome as well: otherwise the price could trend lower.
USD/JPY: The USD/JPY pair has gone below the supply level at
123.50. This has resulted in a strong Bearish Confirmation Pattern, and the
demand levels at 123.00 and 122.50 may be tested today or next week. There
cannot be a threat to the bearish pattern as long as the price is below the
supply level at 124.50.
EUR/JPY: This currency trading instrument is now in a
serious bullish mode, having gone above the demand zone at 138.50. The EMA 11
is above the EMA 56 and the RSI period 14 is above the level 50. This is a
clean ‘buy' signal – the supply zone at 139.00 might soon be tested.
The material has been provided by InstaForex Company – www.instaforex.com
