EUR/USD: The levels at 1.3550 and 1.3500 are now being watched on the EUR/USD, for those levels remain our targets for this week. The market is bearish and it should keep on going downwards after the price leaves the current consolidation phase. The fundamental figures affecting the USD would surely have impact on the levels.
USD/CHF: The levels at 0.9150 and 0.9200 are now being watched on the USD/CHF, for those levels remain our targets for this week. The market is bullish and it should keep on going upwards after the price leaves the current consolidation phase. The fundamental figures affecting the USD would surely have impact on the levels.
GBP/USD: This market continues to go upwards. It must be noted that the GBP looks stronger than the USD while the EUR looks weaker than it. Eventually, the price may reach the distribution territory at 1.6600. One thing is valid: the Cable and the EUR/USD would soon go into a positive correlation. This means either the former would eventually go bearish or the latter would eventually go bullish.
USD/JPY: Both the bulls and the bears are whipsawed. This is because the market does not go in a vivid direction (although the propensity is towards the north). Long trades would still make some sense and the target is at the demand level of 105.00.
EUR/JPY: The condition here has not changed. In spite of the upswings and downswings of the price, the bearish outlook on EUR/JPY remains valid. Short-term rallies have been limited in the market and the bears are determined. The demand zone at 141.00 is to be broken to the downside so that the bearish run can continue.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on market trends you may visit via Daily analysis of major pairs for January 23, 2014 . Thanks for your support on Daily analysis of major pairs for January 23, 2014
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