EUR/USD: This
pair did nothing significant yesterday. It is expected that the price would
continue going upwards this week, therefore making the Friday pullback a
good opportunity to go long at better prices. The outlook on EUR is bullish, so
you might want to watch other EUR pairs (some of which has already started
moving upwards).
USD/CHF: USD/CHF consolidated on Monday. The EUR/USD pair would go upwards this week, which would make USD/CHF trend downwards. The USD itself would be weak and the CHF would
gather some stamina (please watch CHF pairs). This week, bears would target support levels at 0.9700 and 0.9650.
GBP/USD: The cable moved
sideways on September 12, 2016 in the context of an uptrend. While the
overall outlook is bearish, the near-term trend is bullish. This week, the
bulls may target distribution territories at 1.3350, 1.3400, and 1.3450. As
long as the price does not go below the accumulation territory at 1.3150, the
near-term bullish outlook would be logical.
USD/JPY: The USD/JPY pair trended a bit lower on Monday, thus creating a short-term bearish signal in the market. The price may test demand levels at 101.50 and 100.00 this week going further southwards. The supply level at 103.00 would try to challenge bullish attempts
along the way.
EUR/JPY: There is now a Bearish
Confirmation Pattern in the EUR/JPY market (especially the 4-hour chart). There
are demand zones at 114.00 and 113.50, which might be tested by bears. Further
movement towards the south is possible today or tomorrow.
The material has been provided by InstaForex Company – www.instaforex.com
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