EUR/USD: Since Monday, this pair has gone sideways in a perpetual manner. It must be noted that the bullish bias is still valid and the price could go further upwards when momentum returns to the market. The Williams’ % Range continues to go downwards, which gives a good indication to go long.
USD/CHF: From the beginning of this week, this pair has been trudging upwards in a perpetual manner. It must be noted that the bearish bias is still valid and the price could resume its downward journey when momentum returns to the market. The Williams’ % Range continues to go upward, which gives a good indication to go short. The indication to go short would be strong, especially if the price is unable to breach the EMA 56 to the upside.
GBP/USD: The Cable remains in a bull market, and it is currently trying to recover the loss it sustained when it pulled back significantly last week. For this to be possible, the price would go need to go above the distribution territories at 1.6600 and 1.6650 consecutively, and this would result in a very strong northward bias.
USD/JPY: After testing the demand level at 102.00, the USD/JPY has bounced upwards by over 130 pips. This is a threat to the recent bearish signal in the chart, and should the price break the supply level at 103.50 to the upside, the bearish signal would become invalid completely.
EUR/JPY: This cross is also going in the way of most JPY pairs – upwards retracement after an exponential fall in the price. The RSI period 14 is above the level 50, and the price is challenging the EMA 56. Should the price break it to the upside, the recent bearish signal would be over.
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 29, 2014 . Thanks for your support on Daily analysis of major pairs for January 29, 2014
No comments:
Post a Comment