EUR/USD: The EUR/USD pair is still trending downwards.
On Friday, September 19, 2014, the price closed at 1.2829, on a bearish note.
It is possible that the price would test the support line at 1.2800 very
soon. This week, there is also the risk
of a significant rally in a case of a sudden weakness in the USD.
pair is still trending upwards, significantly on a bullish note. The price is
now trading above the support level at 0.9400 and with more stamina in the
market, the price could reach the resistance level at 0.9450. Meanwhile, the
risk of pullback may cause the price to test the support level at 0.9300.
GBP/USD: This currency trading instrument generated a
bullish signal last week, but a sudden weakness in the market has caused the
price to drop, testing the accumulation territory at 1.6300. The market ought
to rally from here so that the bullish outlook would continue to remain valid;
otherwise the bullish outlook would become useless as the market trades below
the accumulation territory at 1.6250.
USD/JPY: The USD/JPY has been in one of its strongest
rallies in recent times. The market is currently going above the demand level
at 108.50, making attempts to test the support level at 109.00. Nevertheless,
there is a great risk of a serious pullback, which may take the price towards
the demand levels at 108.00.
EUR/JPY: This cross is also strong in the long-term,
but weak in the near-term. The price ought to go upwards from here; otherwise a
movement below the demand zone at 139.00 would pose a large threat to the
extant bullish scenario.
The material has been provided by InstaForex Company – www.instaforex.com