EUR/USD: The EUR/USD pair slid further downwards on Thursday, in solidarity with the ongoing bearish bias. The price closed below the resistance line at 1.1400, having rendered the effort of bulls useless. There is a clear possibility that the price may go further downwards, increasing the probability of the EUR reaching parity with the USD.
USD/CHF: The outlook on this special market remains unchanged. The outlook on this current abnormal market is bearish but the bullish correction is expected to continue gradually in spite of occasional large bearish corrections. Therefore, the USD/CHF pair would move upwards by at least, 500 pips this week. Some fundamental figures are expected today and they would have some impact on the markets.
GBP/USD: One nice thing about the Cable is that it is now going in a clean positive correlation with the EUR/USD pair. The two pairs tend to go in positive correlation with each other – an established habit. On Thursday, the price dived towards the accumulation territory at 1.5000 and it may go further downwards from here.
USD/JPY: Unlike certain JPY pairs, this currency trading instrument is trying to harness some stamina. It is sensed that the reason behind this is the stamina in the Greenback itself. It is no longer wise to seek short trades here, for the price is above the EMA 56 and the RSI period 14 is above the level 50, showing that the bias has turned bullish.
EUR/JPY: This is a weak market as a result of the palpable weakness in the EUR. There is a very strong Bearish Confirmation Pattern on the chart and the price may fall further from here.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on daily market trends and news you may visit via Daily analysis of major pairs for January 23, 2015 . Thanks for your support.
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