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FX.co ★ Daily trading forecasts (April 26, 2013)

Daily trading forecasts (April 26, 2013)

EUR/USD: The EURUSD is yet to make some determined directional movement, though there is still some bearish possibility in the market. A significant move may no longer be possible this week, and should there be any movement, it could be towards the downside; which could push the price below the support line at 1.2950.

Daily trading forecasts (April 26, 2013)

USD/CHF: This currency instrument has been bullish and the price has moved upwards by over 150 pips. However, there is a great barrier to further bullish movement at 0.9500, and the price would need to break that barrier (which is a resistance level) to the upside before there could be more northward bias.

Daily trading forecasts (April 26, 2013)

GBP/USD: The recent ‘buy’ signal on the cable has proven to be valid. There is now some Bullish Confirmation Pattern on the chart (the market has moved upwards by more than 230 pips in this week). The next target in the price is now 1.5500 – which could still be reached in spite of the present decrease in the bullish momentum.

Daily trading forecasts (April 26, 2013)

USD/JPY: This pair has largely ranged in this week. There is currently no significant trend, though the overall bias is towards the north. It is either the price breaks the supply level at 100.00 to the upside or breaches the demand level at 98.00 to the downside. Until then, this market would be in a range.

Daily trading forecasts (April 26, 2013)

EUR/JPY: Except on Monday and Tuesday, this cross has not made any significant movement in this week. The price is thus in some serious equilibrium. The EMAs are giving an indication of bullish possibility, whereas the RSI period 14 gives an indication that the bears may be having upper hands. One may stay away from the market until there is a clearer signal.

Daily trading forecasts (April 26, 2013)

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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