EUR/USD: The situation on this pair is nearly similar to that of EUR/JPY. From the beginning of this week, the market moved upward by roughly 300 pips, reaching the resistance line at 1.1400. From that line, the market has begun another phase of bearish movement in conjunction with the overall bias – which is bearish.
USD/CHF: As it is expected, this special pair has moved upwards this week – in a slow and gradual manner. The price has moved upwards by more than 400 pips, topping at 0.9161 before the current minor retracement. The top at 0.9161 is expected to be breached upwards this week or next week, allowing further bullish movement in the market.
GBP/USD: It is getting clear that the price on this currency trading instrument may not be able to go above the distribution territory at 1.5200. The probability of this trading instrument becoming weaker this week or next week is very high; plus a movement below the accumulation territory at 1.5050 would confirm just that.
USD/JPY: This pair continues to be characterized by short-term upswings and downswings. Right now, the price is below the EMA 11 and the RSI period 14 is below the level of 50, leading to a weak Bearish Confirmation Pattern on the chart. The next short-term downswing could take the price towards the demand level at 117.00.
EUR/JPY: The EUR/JPY pair has become weak in the near-term. From the beginning of this week, the market moved upward by roughly 400 pips, reaching the supply zone at 134.00. From that zone, the market has begun another phase of bearish movement in conjunction with the overall bias which is bearish.
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 29, 2015 . Thanks for your support.
No comments:
Post a Comment