EUR/USD: This is a trendless market, albeit things look choppy right now. Price swings are observed between the resistance line at 1.1250 and the support line at 1.1100. The price needs to go above the resistance line or below the support line before there could be a directional movement.
USD/CHF: This pair moved further upwards yesterday, giving more credence to the current Bullish Confirmation Pattern in the market. Today or tomorrow, bulls may be able to target the resistance levels at 0.9850 and 0.9900, although it is unlikely that they will manage to push the price above the resistance level at 0.9900. They would meet a fierce opposition at that level.
GBP/USD: Following the flash crash on the Cable (and of course, other GBP pairs), the price has threatened to trend further downwards, and while it may really continue declining, the expectation for this week is bullish. This means the Cable might still go a kind of upwards, though that would not be significant enough to override the long-term bearish bias on the market.
USD/JPY: This pair trended upwards on Monday, following the bearish correction that was witnessed last Friday. The bias is bullish and price is supposed to continue going upwards, reaching the supply levels at 104.00 and 104.50 this week.
EUR/JPY: This pair moved sideways on October 10, 2016. The outlook on the market is now bearish, and the price is supposed to go upwards again and thus end the present correction. The outlook on JPY pairs is bullish for this week, and the EUR/JPY cross could be seen going upwards again, as bulls target the supply zones at 103.50, 104.00 and 104.50.
From www.instaforex.com http://ift.tt/2dXZ4IJ
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