EUR/USD: This currency trading instrument has not assumed any significant direction this week. However, the more probable scenario is that the price would go upwards when momentum does return to the market.The first target is at the resistance line of 1.1450.
USD/CHF: The USD/CHF pair is also trading in an equilibrium phase as the price gallivants around the resistance level at 0.9500. The outlook is bullish in the near term: the EMA 11 is above the EMA 56 and the Williams’ % Range period 20 is poised to move into the overbought region, in case the buying pressure continues. On the other hand, any development of serious buying pressure in the EUR/USD pair would cause USD/CHF to tumble.
GBP/USD: In this market, the distribution territory at 1.5450 has already been challenged more than once. While the price may go as far as another distribution territory at 1.5500, the GBP is more likely to see a limited bullish movement this week. A pullback is possible anytime this week.
USD/JPY: The USD/JPY market remains dicey as bulls and bears engage in a tight struggle. There is a supply level at 120.00 and a demand level at 118.00. Eventually, the price would close above the supply level at 120.00 or close below the demand level at 118.00. Really, a close above that supply zone is more likely.
EUR/JPY: This market is currently in an equilibrium phase and it would be OK to wait until there is a break below the demand zone at 134.00 or a break above the supply zone at 136.50. The latter action is more likely, because bulls are ready to fight against any southward plunge in the near term.
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 February 25, 2015 . Thanks for your support.
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