EUR/USD: There
is now a clean Bearish Confirmation Pattern in this market. Price has gone down
almost 200 pips since August 26, 2016, and it is supposed to continue going
further downwards, reaching the support lines at 1.1100 and 1.1050 today or
tomorrow. Any rallies that are seen here should be taken as opportunity to go
short.
USD/CHF: There is now a clean
Bullish Confirmation Pattern in this market. Price has moved upwards by over 240
pips since August 22, 2016; and it is supposed to continue going upwards,
reaching the resistance levels at 0.9900 and 0.9950. Price is now above the
support level at 0.9850.
GBP/USD: The Cable has recently
gathered some stamina, which has brought about a new bullish signal in the
market. It would be remembered that the recent bias on the market is bullish in
the short term and bearish in the long term. Price has gone upwards 140 pips
today, now above the accumulation territory at 1.3200 and testing the
distribution territory at 1.3250. Further northward movement is possible.
USD/JPY: The USD/JPY cross has
continued the bullish journey it started on August 26, 2016. Since then, price
has gone upwards 330 pips, now testing the supply level at 103.50. The next
target for bulls are located at the supply levels of 104.00 and 104.50. Unless
there is a significant stamina in the JPY, those targets would be attained this
week or next.
EUR/JPY: The EUR/JPY cross has
continued the bullish journey it started last Friday. Since then, price has
gone upwards 220 pips, now above the demand zone at 115.00. The next target for
bulls are located at the supply zones at 116.00, 116.50 and 117.00. These
targets remain rational until there is a considerable amount of stamina JPY.
The material has been provided by InstaForex Company – www.instaforex.com
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