EURUSD: It seems this pair may not be able to go above the
resistance line of 1.3800, especially in the face of a current lease of
strength in the USD. However this view may not be valid as long as the price is
able to stay above the support line of 1.3700, otherwise, one would need to
switch to the side of the bears.
USDCHF: It seems this pair
may not be able to go below the support level of 1.8850, especially in the face
of a current lease of strength in the USD. However this view may not be valid
as long as the price is able to stay below the resistance level of 1.8950,
otherwise, one would need to switch to the side of the bulls.
GBPUSD: The protracted
bearish correction on the GBPUSD has finally become a bearish signal. From the
distribution territory of 1.6450, the price has dropped by over 150 pips. The
EMA 11 has crossed the EMA 56 to the downside, and the RSI period 14 has
crossed the level 50 to the downside. It is high time one switched one’s
position to the side of the bears.
USDJPY: The USDJPY is a bull market – irrespective of the bearish
threats that are present on it. As long as the price is able to stay above the
demand level of 102.00, the bullish bias can still be mentioned of as being
valid.
EURJPY: This cross is also a bull market – irrespective of the
bearish threats that are present on it. As long as the price is able to stay above
the demand zone of 140.00, the bullish bias can still be mentioned of as being
valid. Should the price go below that demand zone, then one would need to
switch to the side of the bears.
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
Eye-opening trading lessons: http://www.harriman-house.com/experttraders
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