Tag: usd

Daily analysis of major pairs for December 27, 2016

EUR/USD went down on Monday and Tuesday, and then began to move upwards slowly
from Wednesday. Overall, the bias is bearish, which means that the current
bullish attempt is an opportunity to go short at better prices. The support
lines at 1.0400 and 1.0350 could still be reached.


USD/CHF: The USD/CHF merely
moved sideways on Monday – and the bias on the market remains bullish. The
price action and the indicators in the 4-hour chart reveal that when momentum
returns to the market, it would most probably favor the bulls. The targets for
the week remain at the resistance levels at 1.0300 and 1.0350.


GBP/USD: This pair came down 200
pips this week. Now below the distribution territory at 1.2300. There is a
Bearish Confirmation Pattern in the chart and the accumulation territories at
1.2250, 1.2200 and 1.1150 before the end of this month. Long trades are not
recommended in this market at this period.


USD/JPY: This market has become flat
since last week and there is no directional movement in the near term. Right
now, it is OK to stay away from the market because there are mixed signals in
it – the EMAs 11 and 56 are giving a bullish indication while the RSI period 14
is giving a bearish indication. Soon, the indicators would begin to give
signals in the same direction.


EUR/JPY: There
is a possibility of a bullish movement on the EUR/JPY cross. In spite of the
recent flat movement, the overall outlook on the market is bullish, which would
hold as long as price does not go below the demand zone at 120.50, which would
require a strong bearish pressure anyway.


The material has been provided by InstaForex Company – www.instaforex.com

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