The EUR/USD is now one of the
weakest of the popular pairs and crosses. Since January 2, 2015, the price has
fallen by roughly 900 pips. There was a massive drop in the market last week,
enabling the price to drop below the support line at 1.1150. Although the price
bounced upwards after that, the support line would be breached soon.
EUR/USD: The EUR/USD is now one of the weakest of the popular pairs
and crosses. Since January 2, 2015, the price has fallen by roughly 900 pips.
There was a massive drop in the market last week, enabling the price to drop
below the support line at 1.1150. Although the price bounced upwards after
that, the support line would be breached soon.
USD/CHF: The outlook on this special market remains unchanged. The
bias on this currently abnormal market is bearish but it is expected that the
bullish correction would continue gradually in spite of occasional large
bearish corrections. The USD/CHF would, therefore, move upwards by at least,
500 pips this week. The upwards movement
would, however, be slow and gradual.
GBP/USD: One nice thing about the Cable is that it is now going in
a clean positive correlation with the EUR/USD. The two pairs tend to go in
positive correlation with each other – an established habit. The Cable and the
EUR/USD are both dropping, but the drop in the latter is more significant than
the drop in the former. On the Cable, further drop is expected this week.
USD/JPY: The situation on the USD/JPY is a kind of dicey right now;
but it is more probable that the pair would go further south, as a result of
perceived strength in the JPY. This market can reach the demand level at 117.00
soon.
EUR/JPY: This is one of the
weakest among the JPY pairs – largely because of the strong weakness in the EUR
itself. On Friday, January 23, 2015, the price closed on a bearish note. More
southerly movement is expected 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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