The USD/CHF has been able to
stay above the support level at 0.9150. In fact, the price is now trading
upwards, going towards the resistance level at 0.9200. That is the target for
this week.
EUR/USD: With the clean
Bearish Confirmation Pattern in the market, this pair has the potential to move
further southward. One reason for this is the palpable weakness in the Euro.
The price may go further south, testing the support line at 1.3100. The outlook
for this week is generally bearish.
USD/CHF: The USD/CHF has been able to stay above the support level
at 0.9150. In fact, the price is now trading upwards, going towards the
resistance level at 0.9200. That is the target for this week.
GBP/USD: The GBP/USD is still caught in
its consolidation to the upside. The GBP is not as weak as the EUR and
therefore, the Cable seems poised for an exponential breakout that may favor
buyers. This can result in a long-term uptrend and it would materialize as soon
as the price crosses the distribution territory at 1.6650 to the upside.
USD/JPY: This pair is also trending upwards and it may
reach the supply level at 104.50 this week. On Friday, August 29, 2014, the
price closed at 104.08. This close was slightly above the demand level at
104.00, and the price may go further downwards from there. The market is presently
strong.
EUR/JPY: There is no
question about it: the bearish signal that was generated last week on this
cross is still valid. The validity holds in spite of the visible volatility in
the market. The price may go more bearish and test the demand zones at 136.50
and 136.00 respectively.
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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