EUR/USD: There has been a pullback on the EUR/USD, and the price is currently trading below the resistance level at 1.3700. The bullish outlook is not yet completely over, except the price trades below the support level at 1.3650. Some fundamental figures will also be released today, and they will have some impact on the market.
USD/CHF: There has been a rally on the USD/CHF and the price is currently trading above the support level at 0.8850. The bearish outlook is not yet completely over, except the price trades above the resistance level at 0.8950. There are some fundamental events taking place today. They will have impact on USD as well as this pair.
GBP/USD: This market continues to stay in an equilibrium phase, with no significant movement in favor of the bear or the bull. However, there would soon be a breakout this week or next week. Where would the price go when this happens? The RSI period 14 is neutral, but the EMAs 11 and 56 show some confirmation of the bullish outlook. Therefore, it is more probable that the price would break out to the upside in due course.
USD/JPY: This pair continues to move in a tight range. Unless you’re a scalper, you may want to stay away from this market until there is a clear directional breakout and protracted movement in that direction. Then, new orders may be sought. Right now, this market is not attractive to swing traders.
EUR/JPY: The cross is consolidating to the downside; being a threat to the bulls. But in reality, the price needs to close below the demand zone at 139.50 before a bearish signal could be established. Otherwise, the market would go up.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on market trends you may visit via Daily analysis of major pairs for February 27, 2014 . Thanks for your support on Daily analysis of major pairs for February 27, 2014
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