EUR/USD: The EUR/USD plummeted last week, forming a strong Bullish Confirmation Pattern in the 4-hour chart. On November 7, price merely consolidated in the context of an uptrend. Unless USD gathers lots of stamina this week, further bullish movement is possible.
USD/CHF: The USD/CHF plummeted last week, forming a strong Bearish Confirmation Pattern in the 4-hour chart. On November 7, price merely consolidated in the context of a downtrend. Unless USD gathers lots of stamina this week, further bearish movement is possible.
GBP/USD: There is already a bullish signal in this market, as made evident by a Bullish Confirmation Pattern in the 4-hour chart. Price has been corrected downwards a bit, on Monday; but there cannot be a threat to the current bullish outlook as long as price has not broken the accumulation territory 1.2200 to the downside.
USD/JPY: The USD/JPY opened this week with a gap-up; a harbinger of strong volatility in the market. Gaps were also witnessed on some other majors, which means strong movements would be seen this week. The USD/JPY is currently above the demand level at 104.50, and bulls may test the supply levels at 105.00.
EUR/JPY: The gap-up that has happened on this currency cross has resulted in a bullish signal in the market. Last week showed some hesitation – that has been ended by the gap-up. There is a potential for the market to reach the supply zones at 115.50, 116.00 and 116.50. The supply zone at 115.50 has been tested and it might be tested again.
From www.instaforex.com http://ift.tt/2fut93y
No comments:
Post a Comment