EUR/USD: The EUR/USD pair has only consolidated
so far this week. There is still a Bullish Confirmation Pattern in the market
(and there cannot be an overthrow of the bias until the support line at 1.1750
is breached to the downside). In case price turns upwards again from here, that
would be a great opportunity to buy at a better price.
USD/CHF: The pair has rallied by more than 60
pips this week, and price has moved above the support level at 0.9850. This has
become a threat to the recent bearish outlook on the market. Once price goes
above the resistance level at 0.9900 (the next target), it would lead to a
Bullish Confirmation Pattern in the market.
Cable has become clearly bullish as its recent bullish attempt has paid off.
The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. The
next targets for bulls are located at 1.3500 and 1.3550. Some fundamental
figures are expected today, and they would have impact on the market.
USD/JPY: Since testing the demand level at
111.00, this currency trading instrument has gone upwards by more than 150
pips. Such bullish movement was significant enough to become a threat to the
recent bearish bias on the market. Once the supply level at 113.00 is overcome,
the bias on the market would become bullish.
EUR/JPY: The EUR/JPY pair has now started going
upwards, and it has generated a “buy” signal. Price is above the demand zone at
133.00, going upwards towards the supply zone at 133.50 (the first target).
Other targets are located at the supply zones 134.00 and 134.50.
The material has been provided by InstaForex Company – www.instaforex.com