EUR/USD: This pair is weak, though the weakness is limited. The support line is at 1.0650 and resistance is at 1.0900. The resistance line or support line will be breached when a serious momentum returns to the market. The journey to the downside is more likely.
USD/CHF: This USD/CHF pair is still weak, though the weakness is limited. There is a support level at 0.9550 and resistance level at 0.9850. The resistance level or support level is going to be breached when a serious momentum returns to the market. The journey to the upside is more likely.
GBP/USD: It is better to go short in this market instead of going long. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level of 50. This is a sell signal in spite of the visible bullish effort in the market. A movement below the accumulation territory around 1.4750 will strengthen the 'sell' signal, while a movement above the distribution territory around 1.4950 is likely to render the signal useless.
USD/JPY: The situation on this pair requires some tact. Bulls are trying to push the price upwards, but bears are fighting against that. A close below the demand level at 119.00 would mean strengthened bearish outlook. The opposite is true when there is a breach of the supply level at 121.00 to the upside.
EUR/JPY: This cross has gone bearish – for there is a Bearish Confirmation Pattern in the chart. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level of 50. Further weakening is expected for this cross, which may make the price test the demand zone at 128.00.
The material has been provided by InstaForex Company - www.instaforex.com
