EUR/USD: The bullish outlook on this pair is still extant, plus the resistance line at 1.3950 would easily be tested, even breached to the upside. The support line at 1.3800 is a long-term barrier to any pullbacks along the way. The bullish outlook is valid as long as the price remains above that support line. Our target at 1.4000 remains unchanged, the price could reach that resistance line this week.
USD/CHF: The bearish scenario on the USD/CHF remains valid, and the support level at 0.8700 can be easily tested. The southward journey in the chart has invariably been tardy; thus it is unlikely that the price would move that significantly this week. However, there is a possibility that the aforementioned support level can be breached to the downside.
GBP/USD: This market remains an equilibrium market and there could be a breakout this week or next week. When there is a breakout, it could lead to a serious directional move. The market is currently not attractive to swing traders, but intraday traders and scalpers can play. The trick is to sell in the distribution territory at 1.6700 and buy in the accumulation territory at 1.6600.
USD/JPY: This currency trading instrument is bearish, and would remain so as long as the price is under the supply level at 102.00. The demand level at 101.50 is the short-term target, while the demand level at 101.00 is the medium-term target.
EUR/JPY: The ‘sell’ signal on this cross is valid: the current rally proffers an opportunity to go short in the market. The demand zone at 141.00 is the target for this week, though the price could go lower than that.
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 18, 2014 . Thanks for your support on Daily analysis of major pairs for March 18, 2014
No comments:
Post a Comment