The USD/CHF tested the
resistance level at 1.0200 vigorously, but it was unable to break it to the
upside. There is now a slight dip in the market, but with further strength in
the USD, the resistance level could be breached to the upside. On the other
hand, there is a possibility that the price may test the support lines at
1.0100 and 1.0050 this week.
EUR/USD: This pair trended downwards last week, going below the
support line at 1.1800, but unable to close below that line. There is now a
slight upwards bounce in the market, which could be the beginning of a
medium-term buying pressure in the market. The resistance line at 1.1950 could
be challenged.
USD/CHF: The USD/CHF tested the resistance level at 1.0200
vigorously, but it was unable to break it to the upside. There is now a slight
dip in the market, but with further strength in the USD, the resistance level
could be breached to the upside. On the other hand, there is a possibility that
the price may test the support lines at 1.0100 and 1.0050 this week.
GBP/USD: The GBP/USD trended further downwards by roughly 250 pips
last week, challenging the accumulation territory at 1.5050. More downwards
movement was halted at this point, and the price bounced upwards, going above
the accumulation territory at 1.5150. The accumulation territory at 1.5050 can
now defend the market against a movement that could go below it.
USD/JPY: This currency trading instrument closed at 118.45 on
Friday, January 9, 2015, on a bearish note. The market has been volatile
recently - moving in swings. The demand level at 118.00 could be breached to
the upside before the bulls come in to push the price upwards.
EUR/JPY: This cross moved
further downwards last week; which led to a stronger Bearish Confirmation
Pattern in the market. The cross moved downwards by around 350 pips last week
and it could move further downwards this week.
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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