The EUR/USD is weak and therefore, it is expected that the
USD/CHF would be strong. The outlook for the latter is bullish and the outlook
for the former is bearish. As said in earlier forecasts, this market would
continue its slow and gradual upward movement this week, though this may not be
without occasional, but short-term bearish corrections.
EUR/USD: The
effort of the bulls in this market has invariably been rendered useless by the
bears. The resistance line at 1.1500 was challenged but it was not overcome.
The bears are currently trying to push the price south; which may enable the
price to reach the support line at 1.1300 - an important level in its own
right. Only a break above the resistance line at 1.1500 could render the
bearish outlook invalid.
USD/CHF: The
EUR/USD is weak and therefore, it is expected that the USD/CHF would be strong.
The outlook for the latter is bullish and the outlook for the former is
bearish. As said in earlier forecasts, this market would continue its slow and
gradual upward movement this week, though this may not be without occasional,
but short-term bearish corrections.
GBP/USD: The bias
on the Cable has become bullish in the near-term. The market moved upwards by 350
pips last week, from the accumulation territory at 1.5000, which has become a
formidable barrier to the bears’ machination. The distribution territory at
1.5350 was tested last week and it could be tested again.
USD/JPY: This
popular market trended upwards significantly on Friday. Prior to this day, the
market was consolidating between the demand level at 117.00 and the supply
level at 119.00. A break above the supply level at 119.00 shows a new lease of
bullish bias.
EUR/JPY: On Friday, February 6, 2015, this currency
trading instrument closed at 134.81, on a bullish note. The outlook for most
JPY pairs is bullish, and this instrument could be going upwards this week. A
close above the supply zone at 136.00 would result in an unambiguous Bullish Confirmation
Pattern.
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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