FX.co ★ Daily trading forecasts for February 25, 2013

EUR/USD: The bias on this pair is bearish. Last week, the market plunged by almost 200 pips and closed at 1.3190. This week, the market could reach the support line at 1.3100.

USD/CHF: The trend on this instrument is bullish: it rose by roughly 90 pips and closed at 0.9295 last Friday. The signal in the chart looks pretty new. The outlook for this week is bullish, and the price could reach the resistance level at 0.9400.

GBP/USD: For now, no long trades here: it has always been advised that only short trades should be sought on this pair. The major outlook remains bearish as the price closed at 1.5161 on Friday. It will not be difficult for the price to reach the accumulation territory at 1.5100.

USD/JPY: The condition on this instrument is ever tricky. Any bearish signal that came out in the past had usually proven to be bogus as the price rose up and trended upwards. The bearish possibility that was indicated on Friday has quickly been rendered useless as the price reverted back above the EMA 56, and the RSI went above the 50 level. One would do well to look for a possible long trade soon.

EUR/JPY: Unlike the situation on the USD/JPY, the EUR/JPY cross still has a valid bearish outlook, because the indicators in the chart support that, and because the current short-term rally could just be that, ‘a rally in the context of a downtrend.’ And this would proffer a wonderful opportunity to sell at a higher price.

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