EUR/USD: The currency
pair faced resistance at the level of 1.0950. There is a stromg possibility that the price
could fall lower reaching the support line at 1.0850. An ultimate
target is seen at the support line of 1.0800, and unless USD loses its strength in, it would be attained. Moreover, fundamental data is due today and it can have a significant impact on the market.
USD/CHF: As we had expected, the USD/CHF failed to resume its northward journey. The price is above the support level at 0.9600 now, and it could continue going further north, reaching the resistance level at 0.9650.
GBP/USD: the cable is moving in a clean
bullish bias despite the current market consolidation. Bulls are still making attempts to drive the price
further upwards. A break above the distribution territory at 1.5650 would
result in a stronger Bullish Confirmation Pattern in the chart; since the
distribution territory has been a major impediment to bulls’ interests (the
price was unable to break it upwards last week).
USD/JPY: yesterday’s drop in the price proved to be temporary. It was a wonderful opportunity to
buy long in this market. The supply level at 124.50 might thus be reached in no
EUR/JPY: On the 4-hour chart, the EMA 11 is
below the EMA 56, but the RSI period 14 is above the level of 50. It is therefore
better to stay away from this market until there is a clear signal.
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