EUR/USD: The EUR/USD pair went upwards significantly on Thursday, moving towards the resistance line at 1.1450. It is possible that the pair would continue moving upwards, breaking the resistance line at 1.1500 to the upside. It closed above this level today.
the direction opposite to the EUR/USD pair, USD/CHF broke downwards from its
equilibrium phase. This could be a beginning of a strong downtrend, especially
when the support level at 0.9500 is broken to the downside. Currentl,y the
support level at 0.9600 is being tested.
GBP/USD: The Bullish Confirmation Pattern on this
currency trading instrument is still valid. From the accumulation territory at
1.5350, the price went upwards, ramming into the distribution territory at
1.5600. The aforementioned distribution territory could be broken to the
upside, especially with continuation of the current buying pressure.
USD/JPY: This pair moved slightly southwards on Thursday,
but it cannot be said that the current equilibrium phase is over, for this
might be a false breakout. Only a movement below the demand level at 119.00
would show that the trend has really become bearish. There is a supply level at
EUR/JPY: In spite of the threats
from bears, this cross was able to move further upwards, crossing above the
demand zone of 137.00. The EMA 11 is above the EMA 56 and the RSI period 14 is
above the level of 50. This means that the bullish pressure is now formidable –
something that may push the price further northwards.
The material has been provided by InstaForex Company – www.instaforex.com