Daily analysis of major pairs for July 28, 2017
July 28, 2017 10:01 amVideo
Latest News
- Technical Analysis – EURUSD dives further near 1.0600 April 16, 2024
- XM 2024 Ramadan Promotion Winners April 16, 2024
- EUR/USD and GBP/USD: Technical analysis on April 16 April 16, 2024
- Key events on April 16: fundamental analysis for beginners April 16, 2024
- Overview of the GBP/USD pair. April 16th. The pound may rebound, but the flat is over, and there are no reasons for growth April 16, 2024
- Trading plan for GBP/USD on April 16. Simple tips for beginners April 16, 2024
- Trading plan for EUR/USD on April 16. Simple tips for beginners April 16, 2024
- Overview of the EUR/USD pair. April 16th. In plain text: The ECB will cut rates in June April 16, 2024
- Forecast for EUR/USD on April 16, 2024 April 16, 2024
- Forecast for GBP/USD on April 16, 2024 April 16, 2024
- Forecast for AUD/USD on April 16, 2024 April 16, 2024
- Outlook for GBP/USD on April 16. Pound awaits inflation data April 16, 2024
- Outlook for EUR/USD on April 16. Another boring Monday April 16, 2024
- The euro hardly has a chance to rise April 16, 2024
- Trading Signals for GOLD (XAU/USD) for April 15-17, 2024: buy above $2,328 (200 EMA – 5/8 Murray) April 15, 2024
- Video market update for April 15, 2024 April 15, 2024
- Trading Signals for GBP/USD for April 15-17, 2024: buy above 1.2450 (21 SMA – 0/8 Murray) April 15, 2024
- The dollar has not reached its potential April 15, 2024
- Analysis of GBP/USD. April 15th. Retail sales in the USA allow the dollar to continue rising April 15, 2024
- China’s Q1 GDP growth next on the Asian calendar – Preview April 15, 2024
EUR/USD: This is a bull market – as shown by the Bullish Confirmation Pattern on it. The price is currently around the resistance line at 1.1700, which is almost being breached the upside. After that, the next target would be the resistance line at 1.1750.
USD/CHF: Perpetual weakness in CHF has helped the USD/CHF to generate a clean bullish signal (most CHF pairs have also skyrocketed while the CHF/JPY plummeted). The price has gained about 250 pips this week, and it is slightly above the support level at 0.9700. The market would continue going upwards as long as CHF shows weakness. This is a classical example of when both the USD/CHF and EUR/USD go into a positive correlation; I.e, they both go upwards. The USD/CHF normally go into opposite directions. But this time around, the case is being influenced by exponential weakness in CHF.
GBP/USD: Just like the EUR/USD,
with which the Cable normally gets positively correlated, the bullishness on
the market has held out so far. The distribution territory at 1.3150 was tested
before the bearish retracement that is being experienced. It is expected that
price would go upwards again to test that distribution territory, and possibly
breach it to the upside.
USD/JPY: Bears have tried to
maintain the bearishness on this pair for this week. The EMA 11 is below the
EMA 56, and the RSI period 14 is below the level 50. The demand level at 111.00
has been tested repeatedly and it may be breached to the downside anytime soon.
Then another demand level at 110.50 would be aimed.
EUR/JPY: This currency trading instrument
has gone neither upwards nor downwards this week, although the major bias is
bullish. There is a demand zone at 129.00 and there is a supply zone at 130.50.
The market would need to move above the supply zone or below the demand zone,
in order to invalidate the current bullish bias or corroborate it.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
Related Posts: