The EUR/USD has finally
succeeded in going bullish. This has left a Bullish Confirmation Pattern in the
chart, and the price is much more likely to go further upwards towards the
resistance line at 1.2900.
EUR/USD: The situation on
the Greenback was the major determinant of the overall market directions last
week. The EUR/USD has finally succeeded in going bullish. This has left a
Bullish Confirmation Pattern in the chart, and the price is much more likely to
go further upwards towards the resistance line at 1.2900.
USD/CHF: Since the USD has become weak, the outlook on the USD/CHF
has been bearish. The price is more likely to test the support level at 0.9350
this week, for this is the weekly target. However, attention should be paid to
the high volatility in the market (and in the Forex market generally). The high
volatility is usually characterized by large upswings and downswings, and
therefore, this should be considered when trading.
GBP/USD: The Cable is also
making genuine bullish attempts, which can render the recent bearish scenario
completely invalid. The price is already going up, and the overall bias would
turn bullish immediately the price crosses the distribution territory at 1.6200
to the upside.
USD/JPY: This pair closed at 106.89 on Friday, October 17, 2014.
The price trended downwards last week, but the bull is now making some effort
to push the price upwards. Nevertheless, the dominant bias remains bearish
until the supply level at 107.50 is breached to the upside.
EUR/JPY: This cross is also
making some serious effort to go upwards in the context of an overall
downtrend. From the demand zone at 134.50, the price has gone upwards; and a
movement above the supply zone at 137.00 would mean the end of the bearish
outlook.
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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