The EURJPY was largely
bearish last week, and it would possibly breach the demand zone at 128.00 to
the downside this week.
EURUSD: This pair went upwards last week, testing the resistance
line at 1.3400 before bouncing downwards. The downward bounce is deemed a
correction in an uptrend, especially as long as the price is above the support
line at 1.3300. The price may go upwards again to test the aforementioned
resistance line.
USDCHF: This currency instrument
is in a bearish scenario (being also bearish for the most part of the last
week). The price has bounced upwards from the support level of 0.9200 – a
barrier that could not be breached significantly last week. However, the price
ought to be able to breach that barrier to the downside this week, for the
southward outlook to continue to be valid.
GBPUSD: The Cable trended
upwards by roughly 300 pips last week – before it retraced southward a bit. The
price closed at 1.5501 on Friday (August 9, 2013), resting exactly on the price
market territory at 1.5550. That price territory may be breached to the
downside, but not the next one, which is 1.5500.
USDJPY: This currency instrument moved largely downwards last week,
testing the demand zone at 96.00. The price is now trying to move downwards
towards that demand zone again, which would be retested and probably breached
to the downside, should the current selling pressure continue.
EURJPY: The EURJPY was
largely bearish last week, and it would possibly breach the demand zone at
128.00 to the downside this week. The demand zone at 128.00 is not a lofty
target, being expected to be breached to the downside as the price closes below
it.
Performed by Azeez
Mustapha,
Analytical expert
InstaForex Companies
Group
No comments:
Post a Comment