The USD/CHF is weak and it is
currently challenging the support level at 0.8750. Once the support level has
been overcome, the price would go to the next target at 0.8700.
EUR/USD: This currency trading instrument closed at 1.3884 on
Friday, April 11, 2014. It closed on a bullish note, which means that the price
was bullish last week. This bias is also expected to continue this week. The
resistance line at 1.3900 is currently under siege, but the chances that the
price would breach it to the upside are very high.
USD/CHF: The USD/CHF is weak and it is currently challenging the
support level at 0.8750. Once the support level has been overcome, the price
would go to the next target at 0.8700. The bearish outlook in the chart ensures
that the selling pressure may continue as the pair weakens further.
GBP/USD: The Cable was
bullish last week, though it gave up some of its gains. From the distribution
territory at 1.6800, the bullish force in the market was rejected and it was
corrected downwards by up to 70 pips. The price is now below the distribution
territory at 1.6750, but it may challenge that territory again, break it to the
upside, and end up closing above it.
USD/JPY: The USD/JPY tanked after testing the supply
level at 104.00 and having dropped by over 250 pips, testing the demand level
at 101.50. It seems that further dip is being halted but the price may breach
the demand level to the downside.
EUR/JPY: This is also a bear market, though the weakness is not as
strong as that of the USD/JPY. It may be possible that the price would go
upwards, but it would be sensible to think the outlook remains bearish as long
as the price stays below the supply zone at 141.50.
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
Eye-opening trading lessons: http://www.harriman-house.com/experttraders
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