Technical Analysis from www.Instaforex.com

[BudakFx]

USD/CHF:




In the face of ongoing strengthening in the greenback, the USD/CHF pair would continue its upward journey this week, reaching the resistance levels at 1.0100 and 1.0150. Therefore, any shallow pullbacks should be viewed as opportunities to go long. This week so far, the price has been moving only sideways.

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[BudakFx]

GBP/USD:





This week, the GBP/USD pair has moved by 160 pips upwards in the context of a downtrend. The price is above the accumulation territory at 1.5200 now, but this could not pose any threats to the extant bearish outlook unless the distribution territory of 1.5300 is also breached to the upside, which would really require a strong buying pressure.

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[BudakFx]

USD/JPY:





After testing the supply level of 123.50, the pair has weakened. However, it is possible that the price would continue going further upwards, especially as long as the demand level at 122.00 is not broken to the downside yet. Moreover, some fundamental figures are expected today and they could have a significant impact on the market.

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[BudakFx]

EUR/JPY:





The EUR/JPY pair traded a bit lower on Wednesday. The bias was bearish so far and the demand zone at 131.50 is about to be tested again (the demand zone was tested last week); it could even be breached to the downside. Generally, the market is consolidating.

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[BudakFx]

EUR/USD:





The market simply ranged for the most part of this week with neither significant bullish movement, nor serious bearish movement. There was a slightly bullish movement on Thursday, but the outlook on the market remains bearish. Unless the market goes up by 150 pips, it would still be assumed that the market is bearish.
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[Jeb]

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[BudakFx]

USD/CHF:






Despite the fact that the USD/CHF pair simply ranged for the most part of this week, the bullish bias in the market remains valid. The EMA 11 is above the EMA 56, but Williams' % Range period 20 is in the oversold area. This could mean that the current consolidation in the market, though slightly bearish, might result in a rally.

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[BudakFx]

GBP/USD:







The GBP/USD pair seems determined in its bullish correction in the context of a downtrend. The price is close to the distribution territory at 1.5250, and in case it moves further upwards by 150 pips, the recent bearish outlook could be rendered ineffectual. It would still be assumed that the market is bearish.

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[BudakFx]

USD/JPY:





After testing the supply level of 123.50, the price has eased a bit. Nevertheless, it is possible that the price would continue going further upwards, especially as long as the demand level at 122.00 is not broken to the downside.

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[BudakFx]

EUR/JPY:




In the most part of this week (in the past 4 trading days) this currency trading instrument has moved only sideways. There is no potential that today would be an exemption because the market has shrugged off most fundamental figures this week. However, there might be a rise next week.

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