EUR/USD: The EUR/USD has assumed
a bullish movement, which started on Wednesday. There is now a bullish bias in
the market, and price could go further upwards, irrespective of the current
bearish correction in the market, which is supposed to be transitory.
USD/CHF: The USD/CHF has finally
generated a “sell” signal in the 4-hour chart. There is now a clean Bearish Confirmation
Pattern in the chart, and price is expected to journey further south today or
next week, reaching the support levels at 0.9800 and 0.9750. The resistance
level at 0.9800 has been tested and it would be retested again.
GBP/USD: This currency trading instrument has started
to consolidate again. The price movement is flat and this is supposed to
continue till next week (though there could be some near-term directional
movement today). A significant movement is expected next week.
USD/JPY: A closer look on the
USD/JPY reveals there is a hidden weakness in the market. The EMA 11 is below
the EMA 56 and the RSI period 14 is below the level 50. This shows the
possibility of a southward movement, which could happen anytime. Some
fundamental figures are expected today and they could have impact on the
EUR/JPY: Bulls are making some
effort to push up the price in this market, and this is visible by the price
action in the chart. While bulls might be able to push price upwards towards
the supply zones at 117.00 and 117.50, coming fundamental figures might aid
them or scuttle their plan.
The material has been provided by InstaForex Company – www.instaforex.com