EUR/USD: This market has gone
below the resistance line at 1.0900. Going below that resistance means
that bears have lots of energy at the moment, so long trades are not
recommended now. Unless the USD loses stamina, the support line at 1.0850 could
be easily tested and breached to the downside.
USD/CHF: Since this currency
trading instrument has to go in an opposite direction to the EUR/USD pair, it has
succeeded in going above the support level at 0.9550. The next target to be
reached is the resistance level at 0.9600; unless the USD loses stamina.
GBP/USD: The cable has made some attempt to go further
upwards this week, but there is a form of opposition at the distribution
territory of 1.5650. It looks as though the price is in opposition to bears. With more buying pressure, that distribution
territory could be breached to the upside.
USD/JPY: This pair has gone above the demand level at
124.00, going towards the supply level at 124.50. The EMA 11 is above the EMA
56 and the RSI period 14 is above the level of 50. The Bullish Confirmation
Pattern in the chart is now very strong and further bullish movement is
EUR/JPY: The EUR/JPY cross has started trending downwards owing to the weakness in EUR. A southward breakout of the recent short-term equilibrium phase means that the price could go further south. The demand zone at 134.50 could be breached to the downside.
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