The conditions on the
market are favorable to trend-followers, especially in the face of new signals
and directional movements that are currently happening. For instance, the
USDCHF has assumed a strong southward bias and the price could reach the
support level of 0.9000 this week.
EURUSD: The EURUSD has assumed a strong northward bias and the
price could reach the resistance line of 1.3700 this week. This is possible
because the EMA 11 has crossed the EMA 56 to the upside while the Williams’ %
Range gallivants in the overbought territory, showing the strength of the
bulls.
USDCHF: The conditions on the market are favorable to
trend-followers, especially in the face of new signals and directional
movements that are currently happening. For instance, the USDCHF has assumed a
strong southward bias and the price could reach the support level of 0.9000
this week
GBPUSD: On this pair, we have a Bullish Confirmation Pattern. The
market moved upward by over 110 pips last week, closing at 1.6224. There is
still much room for the price to go north, only that there could be some
pullbacks along the way, which ought not to take the price below the
accumulation territory of 1.6100 in worst cases.
USDJPY: Here too, the market is bullish. Yes, this is a bull market
and the price would eventually test the supply level of 102.00, even possibly
overcoming it. The great psychological demand level of 100.00 would act as a
long-term barrier to the bears’ effort, for the price may not break that area
to the downside in spite of the corrections that may happen in the course of
this bullish journey.
EURJPY: This cross trended
significantly upwards last week, moving upwards by more than 200 pips before
closing at 137.29 on Friday. Since the bullish signal was generated a few weeks
ago, the market has moved upwards by more than 610 pips. A great ride indeed!
Performed by Azeez
Mustapha,
Analytical expert
InstaForex Companies
Group
Eye-opening trading lessons: http://www.harriman-house.com/experttraders
No comments:
Post a Comment