Daily analysis of major pairs for September 29, 2017
September 29, 2017 7:49 am
EUR/USD: This pair lost 200 pips this week, went below the support line at 1.1750 and then went upwards to test the resistance line at 1.1800. The resistance line could even be breached to the upside, but as long as price does not go above the resistance line at 1.1900, the bearish bias cannot be jeopardized. Price could go southwards from here.
USD/CHF: There is a bullish bias on the USD/CHF pair. The resistance level at 0.9750 has been tested and it could be tested again. Once the resistance level is breached to the upside, other resistance levels at 0.9800 and 0.9850 could be tested.
GBP/USD: The protracted bearish correction which has been witnessed this week has resulted in a bearish signal on the GBP/USD pair. Price has gone down by 140 pips, and further downwards movement is expected as price goes towards the accumulation territories at 1.3350, 1.3300, and 1.3250 (which could be reached within the next several days).
USD/JPY: There is still some bullishness on the USD/JPY pair (as evidenced by the Bullish Confirmation Pattern in the market). The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. As long as the Greenback is strong versus the Yen, further continual bullishness would be anticipated.
EUR/JPY: Following the bearish run that was seen at the beginning of this week, the EUR/JPY pair has moved sideways so far. The sideways movement could continue for a few more days; then it would be followed by a rise in momentum, which could push price upwards or downwards.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
EUR/USD: This pair lost 200
pips this week, went below the support line at 1.1750 and then went upwards to
test the resistance line at 1.1800. The resistance line could even be breached
to the upside, but as long as price does not go above the resistance line at
1.1900, the bearish bias cannot be jeopardized. Price could go southwards from
here.
USD/CHF: There is a bullish bias on the USD/CHF pair. The
resistance level at 0.9750 has been tested and it could be tested again. Once
the resistance level is breached to the upside, other resistance levels at
0.9800 and 0.9850 could be tested.
GBP/USD: The
protracted bearish correction which has been witnessed this week has resulted
in a bearish signal on the GBP/USD pair. Price has gone down by 140 pips, and
further downwards movement is expected as price goes towards the accumulation
territories at 1.3350, 1.3300, and 1.3250 (which could be reached within the
next several days).
USD/JPY: There is still some bullishness on the
USD/JPY pair (as evidenced by the Bullish Confirmation Pattern in the market). The
EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. As
long as the Greenback is strong versus the Yen, further continual bullishness
would be anticipated.
EUR/JPY: Following the bearish run that was seen
at the beginning of this week, the EUR/JPY pair has moved sideways so far. The
sideways movement could continue for a few more days; then it would be followed
by a rise in momentum, which could push price upwards or downwards.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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