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The GBPUSD is trending upwards towards the distribution territory at 1.5400, which may be easily breached to the upside.
EURUSD: This pair is in a bullish mode: even in the face of the latest equilibrium phase in the market. The Williams’ % Range is moving into the overbought region, which means that the buying pressure is strong on this pair. The price may eventually move toward the resistance line at 1.3300 and breach it to the upside.
USDCHF: Likewise, the USDCHF is in a bearish mode, irrespective of the latest sideways determination on it. The fact that the Williams’ % Range period 20 is going toward the oversold territory means that the bears hold sway right now. The support level at 0.9250 may be breached eventually, to the downside.
GBPUSD: The GBPUSD is trending upwards towards the distribution territory at 1.5400, which may be easily breached to the upside. Since the price is nigh that distribution territory, the chances of breaking it to the upside are very high, especially given the current Bullish Confirmation Pattern on the chart.
USDJPY: The bias here is towards the south, though it must be stated that the market has been tumultuous recently. Yes, handling the tumult/volatility is easy: one would simply need to trade in the direction of the overall bias, selling any rallies in the price. Now, there is a rally to be sold at the supply level of 98.50, using a pending order.
EURJPY: The outlook on the USDJPY is valid on this cross as well. The price has come down since the beginning of the week, but it is a kind of rallying right now, giving a good shorting opportunity in the present context of a downtrend. The market zone at130.50 is a good shorting opportunity.
Source: www.instaforex.com
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