Daily analysis of major pairs for September 29, 2016
September 29, 2016 4:46 am
EUR/USD: The EUR/USD did not do anything significantly on Wednesday. A movement below the support line at 1.1150 would result in the end of the short-term bullishness of the market. A movement above the resistance line at 1.1300 would result in a clean Bullish Confirmation Pattern in the market.
USD/CHF: Here, the EMA 11 is below the EMA 56 and the Williams’ % Range period 20 is not too far from the oversold territory. Any upwards slopes in the Williams’ % Range period 20 is an indication of another short-selling opportunity in the market. The support levels at 0.9650 and 0.9600 might be tested this week or next. The USD/CHF would rally only when the EUR/USD experiences exponential fall.
GBP/USD: The Cable is a bear market, and any rallies that are seen here can be taken as opportunities to sell short when price gains in the context of a downtrend. There would need to be a protracted bullish movement of at least, 1000 pips, before the current bearish outlook can be overridden. This would require an extraordinary amount of buying pressure, otherwise, the current bearish bias would continue.
USD/JPY: The USD/JPY is consolidating right now, but a breakout would soon occur, which would most probably be in favor of bears, owing to the bearish outlook on the market. There is a Bearish Confirmation Pattern in the 4-hour chart and any rallies that are seen here should be taken as opportunities to sell short.
EUR/JPY: This currency trading instrument is in an equilibrium phase in the short-term. A breakout would soon occur, which would most probably be in favor of bears, owing to the bearish outlook on the market. Some fundamental figures are expected today and they would have impact on the markets.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
EUR/USD: The
EUR/USD did not do anything significantly on Wednesday. A movement below the
support line at 1.1150 would result in the end of the short-term bullishness of
the market. A movement above the resistance line at 1.1300 would result in a
clean Bullish Confirmation Pattern in the market.
USD/CHF: Here, the EMA 11 is
below the EMA 56 and the Williams’ % Range period 20 is not too far from the oversold
territory. Any upwards slopes in the Williams’ % Range period 20 is an
indication of another short-selling opportunity in the market. The support
levels at 0.9650 and 0.9600 might be tested this week or next. The USD/CHF
would rally only when the EUR/USD experiences exponential fall.
GBP/USD: The Cable is a bear
market, and any rallies that are seen here can be taken as opportunities to
sell short when price gains in the context of a downtrend. There would need to
be a protracted bullish movement of at least, 1000 pips, before the current
bearish outlook can be overridden. This would require an extraordinary amount
of buying pressure, otherwise, the current bearish bias would continue.
USD/JPY: The USD/JPY is
consolidating right now, but a breakout would soon occur, which would most
probably be in favor of bears, owing to the bearish outlook on the market.
There is a Bearish Confirmation Pattern in the 4-hour chart and any rallies
that are seen here should be taken as opportunities to sell short.
EUR/JPY: This
currency trading instrument is in an equilibrium phase in the short-term. A
breakout would soon occur, which would most probably be in favor of bears,
owing to the bearish outlook on the market. Some fundamental figures are
expected today and they would have impact on the markets.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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