EUR/USD: The southward outlook on the EUR/USD is currently in a serious jeopardy. The present rally in the chart may be a short-selling opportunity, as long as the price does not go further northward in a determined fashion. Should the price test the resistance line at 1.3900, the bearish outlook would be over.
USD/CHF: Yesterday, there was a serious challenge to the extant bullish bias in the market. As long as the market stays above the support level at 0.8800, it would be safe to assume that the price could go further upwards. With a renewed buying pressure, the market could eventually reach the resistance level at 0.8900.
GBP/USD: The market is consolidating right now in the downtrend. The Cable remains bearish, trading below the distribution territory at 1.6500. When the momentum thus returns to the market, it is more likely to be towards the downside. The price may reach the accumulation territory at 1.6450.
USD/JPY: The outlook on this pair at the beginning of the week is still the same. For the bullish outlook not to become valid this week, the price must stay above the demand level at 102.00. When the price is seen as trading below that demand level, it means it is time to seek short trades.
EUR/JPY: From last week up till now, the price has remained largely in an equilibrium zone. This is due to the fact that both the Euro and the Yen are strong: with neither gaining upper hand over the other. The price would either break above the supply level at 142.00 or below the demand level at 141.00, but the latter action is more likely.
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 March 25, 2014 . Thanks for your support on Daily analysis of major pairs for March 25, 2014
No comments:
Post a Comment