EUR/USD is still experiencing a short-term rally in the context of a
downtrend. Unless the resistance lines
at 1.0700 and 1.0800 are overcome and breached to the upside, the short-term
rally would be seen as another opportunity to go short targeting the support
lines at 1.0550 and 1.0500.
USD/CHF has been moving sideways since last week, and unlike the EUR/USD which
bounced upwards, it has not pulled back this week. The outlook on the market remains
bullish. Now, there is a possibility that the market would try the resistance
level at 1.0150.
currency trading instrument is also bearish and the shallow stamina could be
seen as a chance to look for shorting opportunities with the expectation
that the price would dive towards the accumulation territories at 1.4700 and
1.4600. In fact the price has started going down.
USD/JPY has been moving sideways since last week and there would soon be a
breakout which would potentially favor the bulls. The rationale behind this expectation
is corroborated by the fact that the price is above the EMA 56 while the RSI
period 14 is above the level of 50. This upward breakout is expected to happen
this week or early next week.
EUR/JPY is consolidating to the upside and in the context of a downtrend. The
Bearish Confirmation Pattern on the chart is still a valid thing and unless the
supply zones at 130.00 and 140.00 are overcome, the upside consolidation would
bring nice shorting opportunities.
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