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The EURUSD fell by roughly 170 pips last week, closing at 1.3222. There would be some short-lived bullish attempts this week, but the general outlook remains bearish.
EURUSD: The EURUSD fell by roughly 170 pips last week, closing at 1.3222. There would be some short-lived bullish attempts this week, but the general outlook remains bearish. There is a resistance line at 1.3300, and whereas the price may reach the support line of 1.3100.
USDCHF: This pair is a bull market which has been able to reject any serious bearish attempts on it. Last week was closed in a range movement, and this week could see the price being pushed upwards towards the resistance levels at 0.9350 and 0.9400 respectively. Would this pair ever see parity again?
GBPUSD: There is still a Bearish Confirmation Pattern on the Cable and this fact could continue serving as an aid to bears’ interest. The price action could rightly be called a ranging one, and when a breakout does occur, it is more likely to be towards the downside, going towards the accumulation territory of 1.5400.
USDJPY: This currency instrument – though a difficult market – has now produced a kind of clear signal. It shows a northward possibility, perhaps towards the supply level at 99.00, before any serious retracement. Long position could be opened with small sizes and tight stops.
EURJPY: There is a bearish outlook here, and the price would probably keep on going downwards this week. The simple fact is that the EUR is weak and the USD is strong. Therefore the price could go further southward, reaching some demand zones of 129.00 and 128.50 successively.
Source: www.instaforex.com
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