EUR/USD: The EUR/USD pair made some bullish attempt on Monday and Tuesday. Price has gained more than 170 pips, which has resulted in a clean Bullish Confirmation Pattern in the market. The next targets for bulls are located at the resistance lines at 1.1100 and 1.1150, which would be reached before the end of this week.
USD/CHF: A bearish signal has been finally generated on USD/CHF. Price has come down by 150 pips this week, testing the support level at 0.9850, and the support level would soon be breached to the downside, as price goes towards another support level at 0.9800.
GBP/USD: The GBP/USD pair has continued to move sideways this week. The sideways movement is expected to end this week or next, as price goes above the distribution territory at 1.3000 to form a bullish bias; or the price may go below the accumulation territory at 1.2800, to form a bearish bias. A strong directional movement would be needed to make either of this happen.
USD/JPY: This currency trading instrument has been able to retain its bullishness in spite of its short-term sideways movement (though things are going precarious). A movement above the supply level at 114.00 would result in a stronger bullish outlook, while a movement below the demand level at 112.00 would result in bearish outlook.
EUR/JPY: There is a Bullish Confirmation Pattern on the EUR/JPY cross. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. Price has gone further upwards this week, now above the demand zone at 125.00, going towards the supply zone at 126.00. The aforementioned supply zone may even be breached to the upside.
No comments:
Post a Comment