EUR/USD: This pair has been so weak that long trades do not make any sense at the moment. A possibility of EUR reaching parity with USD is very strong now. If the CAD, the CHF, and the AUD could reach parity with USD, why can't EUR reach parity with it? Bulls and bears are fighting a serious battle around the great support line at 1.0500, and we may see the price testing another support lines at 1.0400 and 1.0300. The outlook for the EUR/USD pair is bearish indeed.
USD/CHF: The USD/CHF pair would continue its upward journey for as long as the EUR/USD pair is weak. The price is between the support level at 1.0000 and the resistance level at 1.0100 now. A breach above the resistance level at 1.0100 is very likely.
GBP/USD: The Cable is a weak market right now. The market moved downwards by more than 300 pips last week, closing below the distribution territory around 1.4750. Accumulation territories around 1.4700 and 1.4650 are potential targets for bears now. While those accumulation territories may be tested, it is unlikely that the price would breach them to the downside this week.
USD/JPY: This currency trading instrument is bullish in outlook, though there was no significant northward movement last week. On Friday, March 13, 2015, the price closed at 121.39; on a bullish note. There is a strong probability that the instrument may rally this or the next week.
EUR/JPY: This is a bear market and it would continue to be weak as long as EUR does not have any strength. Only an exponential stamina of EUR could reverse the trend; or a significant weakness in JPY itself.
The material has been provided by InstaForex Company - www.instaforex.com
