Posted by fxmars.com
EURUSD:
During the last week, the price was moving in bearish direction and on Thursday it reached the 1.35100 support, which matches with the purple bullish line from July 2012. The interesting is that the other two bottoms, which lie on the purple bullish line, are from July 2012 and July 2013. Currently, it is July 2014 and the price attempts a third bottom on the purple bullish line and at the same time, the price is testing the support at 1.35100. This gives additional strength to the level and it is likely to believe that an increase in the price might occur. At the same time, the stochastic oscillator is in the area for an oversold market and the two lines are just crossing in bullish direction. For this reason, we believe that a bullish bounce and a new bullish increase would be the typical scenario in this case.
USDJPY:
The price reached again the 101.197 support on Thursday and it bounced in bullish direction on Friday. We remind that his is a strong support, which has stood the pressure of the price for about 8 times. We also remind that sometimes, the price breaks the 101.197 support and decreases to the next support at 100.756. In this manner we mention, that the stochastic oscillator’s behavior is not very bullish and such decrease might occur. On the other hand, if a bullish increase occurs, the price would eventually meet as a resistance the purple bearish line from January 2 and eventually the 102.770 resistance.
GBPUSD:
During its last consolidation after creating a high at 1.71849, the price reached as a support the lower level of the blue bullish corridor from the end of September 2013. Currently, the price demonstrates a decrease of its bearish intensity after meeting the corridor as a support, which creates the idea of an eventual bullish movement. But, if we take a closer look, we notice that there is an obvious divergence between the bottoms of the chart of the Cable and the stochastic oscillator, which speaks of the opposite scenario. Furthermore, the two lines of the stochastic are acting pretty strange lately and there isn’t any bullish signal from it. If the price increases, it would eventually meet the 1.71849 level as a resistance again. A break in the lower level of the blue bullish corridor might drop the price to 1.68377.
EURUSD:
During the last week, the price was moving in bearish direction and on Thursday it reached the 1.35100 support, which matches with the purple bullish line from July 2012. The interesting is that the other two bottoms, which lie on the purple bullish line, are from July 2012 and July 2013. Currently, it is July 2014 and the price attempts a third bottom on the purple bullish line and at the same time, the price is testing the support at 1.35100. This gives additional strength to the level and it is likely to believe that an increase in the price might occur. At the same time, the stochastic oscillator is in the area for an oversold market and the two lines are just crossing in bullish direction. For this reason, we believe that a bullish bounce and a new bullish increase would be the typical scenario in this case.
USDJPY:
The price reached again the 101.197 support on Thursday and it bounced in bullish direction on Friday. We remind that his is a strong support, which has stood the pressure of the price for about 8 times. We also remind that sometimes, the price breaks the 101.197 support and decreases to the next support at 100.756. In this manner we mention, that the stochastic oscillator’s behavior is not very bullish and such decrease might occur. On the other hand, if a bullish increase occurs, the price would eventually meet as a resistance the purple bearish line from January 2 and eventually the 102.770 resistance.
GBPUSD:
During its last consolidation after creating a high at 1.71849, the price reached as a support the lower level of the blue bullish corridor from the end of September 2013. Currently, the price demonstrates a decrease of its bearish intensity after meeting the corridor as a support, which creates the idea of an eventual bullish movement. But, if we take a closer look, we notice that there is an obvious divergence between the bottoms of the chart of the Cable and the stochastic oscillator, which speaks of the opposite scenario. Furthermore, the two lines of the stochastic are acting pretty strange lately and there isn’t any bullish signal from it. If the price increases, it would eventually meet the 1.71849 level as a resistance again. A break in the lower level of the blue bullish corridor might drop the price to 1.68377.
