The bullish trend on the USD/CHF is now very strong.
Interestingly, the market has tested the resistance level at 0.9050, and with
the continuation of the trend, the market may go towards the resistance level
at 0.9100.
EUR/USD: The bearish outlook on the EUR/USD is
currently very strong. On Friday, July 25, 2014, the price closed at 1.3428, in
a serious bearish tone. The price is currently trading below the resistance
line at 1.3450. The price may then go towards the support line at 1.3400.
USD/CHF: The
bullish trend on the USD/CHF is now very strong. Interestingly, the market has
tested the resistance level at 0.9050, and with the continuation of the trend,
the market may go towards the resistance level at 0.9100. This is the target
for this week, and it is prudent to seek long trades now.
GBP/USD: The Cable dropped
by up to 130 pips last week, as a result of the perceived weakness on it. The
clear Bearish Confirmation Pattern in the chart ensures that the probability of
the price going further downwards is great. The market may first test the
accumulation territory at 1.6950; it may then go towards the accumulation
territory at 1.6900.
USD/JPY: This is a bull
market, but the possibility of significant bullish movement would be limited,
and therefore, intraday traders and scalpers may want to take their profits at
the supply level of 102.00. This is a
level where the price could have a deep pullback, unless the buyers are
seriously willing to push the price past that supply level.
EUR/JPY: As it was mentioned on Friday, the supply zone
at 137.00 would challenge the latest rally in the context of a downtrend. The
demand zone at 136.50 could be retested: it could even be breached to the
downside, as the price goes towards the demand zone at 136.00
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
Learn from the Generals of the
Markets: http://www.amazon.co.uk/Learn-Generals-Market-Azeez-Mustapha/dp/1908756314
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