EUR/USD: There
is a bearish signal on EUR/USD, which has come into place since last
Friday. Bears might be able to target the support lines at 1.1150, 1.1100 and
1.1050 this week. In this market, any short-term rallies that occur should be
taken as opportunities to go short.
USD/CHF: There is a bullish
signal on USD/CHF, which has come into place since last Friday. Bulls might
be able to target the resistance levels at 0.9800, 0.9850 and 0.9900 this week.
In this market, any bearish retracements that occur should be taken as
opportunities to go long.
GBP/USD: Price has gone down
since last week, posing a threat to the recent bullish outlook in the market. A
movement below the accumulation territory at 1.2950 would result in a Bearish
Confirmation Pattern in the market, while a movement above the distribution
territory at 1.3300 would strengthen the recent bullish bias.
USD/JPY: This pair has been
making bullish attempts since August 26, 2016; an action that has resulted in a
“buy” signal in the near term. While the major bias on daily and weekly charts
is bearish, there is a possibility that price might test the supply levels at
102.50, 103.50 and 104.00; even if there is going to be a pullback following
that.
EUR/JPY: This cross has been
making bullish attempts since the last day of last week; an action that has
resulted in a “buy” signal in the near term. While the major bias on daily and
weekly charts is bearish, there is a possibility that price might test the
supply zones at 115.0, 115.50 and 116.00; even if there is going to be a
pullback following that.
The material has been provided by InstaForex Company – www.instaforex.com
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