The EUR/JPY continues to be strong as a result of the
weakness in the Yen and further bullish determination in the Euro. The Bullish
Confirmation Pattern in the market is very conspicuous and one supply zone
after the other has been breached. Right now, the price is moving above the
demand zone at 139.00, going towards the supply zone at 140.00.
EUR/USD: This pair is still bearish in the long term,
but bullish in the near term. The bulls have shown their determination to keep
on making attempts for the price to go further upwards in spite of serious
battering from the bears. A movement above the resistance line at 1.3050 would
mean the end of the bullish outlook and the beginning of the bearish outlook.
On the other hand, the price may become weak and go towards the support line at
1.2850. That is in the case when the bearish move is once again renewed.
USD/CHF: This currency trading instrument closed at 0.9332 (Friday,
September 12, 2014); on a bullish note. There is an immediate support level at
0.9300, while the price is expected to go further north this week, testing the
resistance level at 0.9400.
GBP/USD: Just like its EUR/USD counterpart, the Cable
is also showing some determination to go further upwards, although the
long-term bias is bearish. Any movement above the distribution territory at
1.6300 would mean the beginning of a new bullish journey, but the price may
fall back towards the accumulation territory at 1.6150.
USD/JPY: This pair is strong and it is now above the
demand level at 107.00. The first target for this week would be reached at the
supply level of 107.50.
EUR/JPY: The EUR/JPY continues to be strong as a result
of the weakness in the Yen and further bullish determination in the Euro. The
Bullish Confirmation Pattern in the market is very conspicuous and one supply
zone after the other has been breached. Right now, the price is moving above
the demand zone at 139.00, going towards the supply zone at 140.00. That is our
target for this week.
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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