EUR/USD: After testing the resistance level of 0.9500 several times, the USD/CHF pair turned out to be unable to break it to the upside. For the bullish trend to continue in the market, the resistance level must be broken to the upside. Otherwise, there is a possibility of downward reversal.
testing the resistance level at 0.9500, the USD/CHF pair was unable to break it to the upside. For
the bullish trend to continue in the market, the resistance level must be
broken to the upside. Otherwise, there is a possibility of downward reversal.
GBP/USD: The market is bearish – with a Bearish
Confirmation Pattern in the chart. The accumulation territory at 1.5350, which
was previously battered, has come under siege again. If it gets broken to
the downside, the next target for bears will be the accumulation territory
currency trading instrument trended seriously southward this week testing the
demand level of 120.50. There has been an upward bounce of about 100 pips since
the demand level was tested, but unless the supply level at 123.50 is overcome,
a short-selling opportunity would be seen there.
EUR/JPY: The bias is currently bearish.
The EMA 11 is below the EMA 56, and the RSI period 14 is below the level of 50.
Further downward movement is expected in the market, which would take the price
towards the demand zone at 133.00. However, the adamant demand zone at 133.50
should be breached first.
The material has been provided by InstaForex Company – www.instaforex.com