On Friday (June 6, 2014), the
USDCHF closed at 0.8934. The price has
already assumed a bearish stance, which may continue this week. The next target
to be reached is at the support level of 0.8900.
EUR/USD: This market was
volatile last week. Now it looks as though the price is poised to go
northwards, but this is cannot be confirmed until the price goes above the
resistance line at 1.3700. Should this happen, it would result in a Bullish
Confirmation Pattern in the chart.
USD/CHF: On Friday (June 6, 2014), the USDCHF closed at
0.8934. The price has already assumed a
bearish stance, which may continue this week. The next target to be reached is
at the support level of 0.8900. The
bullish target at the resistance level of 0.9000 has already been hit, and now
is the time for correction. The correction has now resulted in a confirmed
bearish bias.
GBP/USD: Here, it would be
recommended that long trades be sought. Even, pullbacks could be bought; which gives
higher probability of profits. Why? The price action is bullish in nature and
as long as the price is able to stay above the accumulation territory at
1.6750, the bullish outlook is logical.
USD/JPY: The bullish outlook
is also logical on the USD/JPY, the price retraced southward last week, but it
is now making another bullish attempt. Closing on Friday at an interesting
market level of 102.49, the price may go further upwards from there.
EUR/JPY: This market is
bullish, but it needs to cross the supply zone at 140.00 to the upside, for the
bullish bias to become more formidable. A failure to close above the supply
level this week may make the price go down from its current position.
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
Learn from the Generals of the Markets:
No comments:
Post a Comment