EUR/USD: The EUR/USD pair opened with a large gap this week as did other EUR pairs. These gaps signify a high volatility this week, which has already started. The gaps have been filled. This means that most EUR pairs would go upwards this week. The EUR/USD went upwards on Monday.
pair had opened with a small gap and went downwards later on Monday. The pair
went downwards by over 120 pips. This could cause a threat to the recent
bullish outlook. A movement below the support level of 0.9200 could
result in a bearish bias.
GBP/USD: The outlook for this pair is bullish as it was not affected by the gaps occurred
at the beginning of the week. The bullish outlook would be valid as long
as the accumulation territory around 1.5650 is not broken to the downside. Once the
accumulation territory is breached to the downside, the outlook would become
bearish. This scenario is more likely this week. This would also affect other
currency trading instrument gapped down after the openning bell and the
price trended downwards. Amid bearish expectation for this month, the price is likely to continue trending further
like the EUR/USD pair, EUR/JPY gapped down when the market opened. The price dropped by 400 pips testing the demand zone at 134.00 and bounced
upwards by over 350 pips later. Further upward movements could result in a Bullish
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