EUR/USD: This is
a bear market and the bearish movement is supposed to continue this week. From
the resistance line at 1.2550, the price dropped by more than 300 pips, closing
below the resistance line at 1.2250. The next target to be reached by the price
is the support line at 1.2200.
USD/CHF: This is
a bull market and the bullish movement is supposed to continue this week. From
the support level at 0.9550, the price rose by more than 280 pips, moving close
to the resistance line at 0.9850. That resistance level could be breached to
the upside, and the next target to be reached by the price is resistance level
GBP/USD: This is
a very volatile market. The volatility is caused by a struggle between the bull
and the bear, though bears have upper hands. With further strength in the
Greenback, the price could challenge the accumulation territory at 1.5550.
USD/JPY pair went upwards last week, following a bearish run that made it go below
the demand level at 116.00. The price was unable to stay below the demand level
at 116.00 – as it rose steeply above the demand level at 119.00. This market
could continue its upwards movement and as a result of that, price could reach
another supply level at 120.50.
EUR/JPY: This currency trading instrument closed at
146.16 on Friday, December 19, 2014, on a bearish note. The price ought to be
bullish like some other JPY pairs, but the weakness in the EUR is too much to
allow it. Only a movement above the supply zone at 147.50 could mean the end
of the bearish outlook.
The material has been provided by InstaForex Company – www.instaforex.com