The EUR/USD has been making commendable effort to go upward
in the context of a downward bias. This effort has enabled the price to close
above the support line at 1.1350 and a movement above the resistance line at
1.1500 would result in a clean Bullish Confirmation Pattern in the market. The
outlook on the EUR/USD for this week is bullish.
EUR/USD: The
EUR/USD has been making commendable effort to go upward in the context of a
downward bias. This effort has enabled the price to close above the support
line at 1.1350 and a movement above the resistance line at 1.1500 would result
in a clean Bullish Confirmation Pattern in the market. The outlook on the
EUR/USD for this week is bullish.
USD/CHF: Although
the outlook on this pair is bullish and the price is supposed to be going
upwards, there is now a high probability that there could be some short-term or
protracted pullbacks in the market. One thing is sure, the possible pullbacks
would not be permanent and the price could continue its upward journey after
that (even if it would be a consolidation to the upside).
GBP/USD: This
currency trading instrument trended upwards last week, testing the distribution
territory at 1.5400. That distribution territory is currently being battered
and it would be breached to the upside as the price continues its northward
journey.
USD/JPY: This pair rose by 200 pips last week and later
fell by another 200 pips. From the demand level at 118.50, the price almost
reached the supply level at 120.50, after which the gains made by the bulls
were forfeited. The bullish bias on the pair, however, still remains logical.
EUR/JPY: This cross closed at 135.34 on Friday,
February 13, 2015. The cross is trying to go further upwards and a movement
above the supply zone at 136.50 would result in the invalidation of the recent
bearish outlook plus a new ‘buy’s signal.
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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