The GBP/USD fell by roughly 200 pips last week, threatening
the recent bullish outlook on the market. The bullish outlook would be valid
only as long as the accumulation territory at 1.5650 is not broken to the
downside. Once the accumulation territory is breached to the downside, the
outlook would become bearish – an event that is more likely this week. This
would also affect other GBP pairs.
EUR/USD: There is
already a bearish signal on this pair, though there is a formidable barrier to
the bears’ interest at the support line of 1.1150. A break of that support line
would enable the price to go further southwards more smoothly.
USD/CHF: This
market has the propensity to go upwards, which would become possible in case
the EUR/USD goes further downwards. There is a stubborn resistance level at
0.9400, which the bulls need to breach in order to maintain the existing
dominance.
GBP/USD: The
GBP/USD fell by roughly 200 pips last week, threatening the recent bullish
outlook on the market. The bullish outlook would be valid only as long as the
accumulation territory at 1.5650 is not broken to the downside. Once the
accumulation territory is breached to the downside, the outlook would become
bearish – an event that is more likely this week. This would also affect other
GBP pairs.
USD/JPY: This is
currently a persistent sideways market which has been going on for a few weeks.
There is bound to be a break above the supply level at 124.50 or below the
demand level at 122.50. On the USD/JPY,
there would be a great directional movement in July 2015 (and most probable in
direction of bears).
EUR/JPY: The
EUR/JPY is a bear market, and since the bearish signal has been formed, the
market has been going in a sideways movement. However, there could be a
significant movement today or next week. The fundamental events in the Eurozone
could cause a great impact in the market; plus the situation of the Euro would
be the greatest determinant of the movement on this cross.
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
What Super Traders Don’t Want You To Know: http://www.advfnbooks.com/books/supertraders/index.html
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