After some hesitation, the USD/CHF was able to go upwards,
breaking the support level at 0.9500 to the upside. With further northward
movement, the pair may reach the resistance level at 0.9550. That is the first
target for the week.
EUR/USD: This currency trading instrument closed at
1.2683 on Friday, September 26, 2014; on a bearish note. The price is now below
the resistance line at 1.2700, making attempt to reach the support line at
1.2650. This trading instrument would continue its weakness as long as the USD
is strong. That is the initial target for the week.
USD/CHF: After
some hesitation, the USD/CHF was able to go upwards, breaking the support level
at 0.9500 to the upside. It may be thought that the pair could experience a
large pullback whenever the USD becomes weak suddenly; but the fact is that the
market would continue going upwards as long as the EUR/USD is weak. With
further northward movement, the pair may reach the resistance level at 0.9550.
That is the first target for the week.
GBP/USD: The perpetual weakness in the GBP, coupled
with the perceived strength in the USD, has enabled this market to go bearish.
This has led to the Bearish Confirmation Pattern in the chart and it is no longer
sensible to seek long trades at this time. More weakness may enable the price
to reach the accumulation territory at 1.6150 this week.
USD/JPY: This is a bull market – a result of the
stamina in the Greenback. The Greenback is, in fact, one of the strongest
currencies among the majors right now. The supply level at 109.50 has already
been tested, and the price may later break it to the upside, closing above it.
On the other hand, the risk of a pullback still exists.
EUR/JPY: The reality in this market is that it is weak:
the bearish bias has been confirmed and there is a possibility that the market
may continue to be weak, reaching the demand zone at 138.00.
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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