Daily analysis of major pairs for February 27, 2017
February 27, 2017 9:56 am
EUR/USD: The EUR/USD pair is in a short-term downtrend, though the price made some weak bullish attempts on Thursday and Friday. The outlook on the market is bearish, and so, the recent bullish attempt happened in the context of a downtrend, which is a good opportunity to go short at better prices.
USD/CHF: The USD/CHF pair, which is in a short-term uptrend, pulled back on Friday. The pullback could end up being a good opportunity to buy long at a better price. The market could still reach the support levels at 1.0100 and 1.0150 within the next several trading days.
GBP/USD: The bias on the Cable is essentially flat. The market has consolidated for about three weeks, oscillating between the accumulation territory at 1.2300 and the distribution territory at 1.2600. The price must go above that distribution territory or below the accumulation territory before the current neutral bias can be considered as over. There is going to be an end to the neutrality before the end of March.
USD/JPY: This pair moved sideways last week and then trended downwards on Thursday and Friday which has generated a “sell” signal in the market. The outlook is neutral in the medium term and bearish in the short term. The price is supposed to trend further downwards, but that does not rule out a possibility of a strong bullish breakout (which may also occur on other JPY pairs).
EUR/JPY: The EUR/JPY pair dived by over 180 pips last week, closing below the supply zone at 118.50 on Friday. There is a clean Bullish Confirmation Pattern in the 4-hour chart, and further dive is possible this week, which may take price towards the demand zones at 118.00, 117.50, and 116.50.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
EUR/USD: The EUR/USD pair is in a
short-term downtrend, though the price made some weak bullish attempts on Thursday
and Friday. The outlook on the market is bearish, and so, the recent bullish
attempt happened in the context of a downtrend, which is a good opportunity to
go short at better prices.
USD/CHF: The USD/CHF pair, which is
in a short-term uptrend, pulled back on Friday. The pullback could end up being a
good opportunity to buy long at a better price. The market could still reach
the support levels at 1.0100 and 1.0150 within the next several trading days.
GBP/USD: The bias on the Cable
is essentially flat. The market has consolidated for about three weeks,
oscillating between the accumulation territory at 1.2300 and the distribution
territory at 1.2600. The price must go above that distribution territory or below
the accumulation territory before the current neutral bias can be considered as
over. There is going to be an end to the neutrality before the end of March.
USD/JPY: This pair moved
sideways last week and then trended downwards on Thursday and Friday which
has generated a “sell” signal in the market. The outlook is neutral in the
medium term and bearish in the short term. The price is supposed to trend further
downwards, but that does not rule out a possibility of a strong bullish
breakout (which may also occur on other JPY pairs).
EUR/JPY: The EUR/JPY pair dived by
over 180 pips last week, closing below the supply zone at 118.50 on Friday.
There is a clean Bullish Confirmation Pattern in the 4-hour chart, and further
dive is possible this week, which may take price towards the demand zones at
118.00, 117.50, and 116.50.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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