EUR/USD pair is weak now, going below the resistance line at 1.1000. Further
weakness in the price could cause the support line at 1.0900 and 1.0850 to be
tested this week. On the other hand, there are resistance lines at 1.1050 and
pair is gaining strength at the moment as a result of stamina in USD. The pair moved upwards by 300 pips last week and it is threatening to breach the
resistance level at 0.9450: it would
break it to the upside. In case this occurs, the next bulls’ target would
be the resistance level at 0.9550.
GBP/USD: The cable is weak now, generating a “sell” signal. The accumulation territory at 1.5450 could be breached to the downside as the price trends further downwards towards another accumulation territory at 1.5400. A new bearish signal would be valid as long as the distribution territory at 1.5700 is not breached to the upside.
USD/JPY pair consolidated on Monday – in the context of an uptrend. There is a
Bullish Confirmation Pattern in the market and the probability that the market
will go further upwards is greater than the probability that the market will go southwards.
cross, which consolidated last week while trending downwards, is still weak. On
Monday, the price trended further downwards, just going below the supply zone
at 133.50. The next target is the demand zone at 133.00, which would be
breached to the downside. The cross would rally providing that the euro
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