On Friday, June 20, 2014, the
EUR/JPY cross closed at 138.81on a bullish note. The bullish signal is valid
and the movement above the demand level at 138.50 supports the possibility of
the price going higher.
EUR/USD: This pair was able
to generate a ‘buy’ signal last week. But there is now a dip in the price. The
dip gives another opportunity to open a long trade because the price may bounce
upwards from that point. In fact, the price has been making some bullish
attempt and it is not too late to join.
USD/CHF: The USD/CHF was able to generate a ‘sell’ signal last
week. But there is now a rally in the price. The rally gives another
opportunity to open a short trade because the price may plunge from that point.
In fact, the price has been making some bearish attempt and it is not too late
to join.
GBP/USD: The Cable has been
bullish within the past several trading days. From the accumulation territory
at 1.6700, the price shot upwards by 350 pips, breaking the formidable
distribution territory at 1.7000 to the upside and testing another distribution
territory at 1.7050. There is now a shallow southward retracement – which is
normal – for the price may go up again.
USD/JPY: This currency
trading instrument has generated another bullish signal, but the target is not
a long-term one. One may go long and exit as soon as the price hits the supply
level at 102.50.
EUR/JPY: On Friday, June 20,
2014, the EUR/JPY cross closed at 138.81on a bullish note. The bullish signal
is valid and the movement above the demand level at 138.50 supports the
possibility of the price going higher.
The first target is the supply zone at 139.00, after which the price may
go upwards towards another supply zone at 139.50.
Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group
Learn
from the Generals of the Markets: http://www.amazon.co.uk/Learn-Generals-Market-Azeez-Mustapha/dp/1908756314
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