Daily analysis of major pairs for September 8, 2016
September 8, 2016 5:08 am
EUR/USD: A bullish signal has already appeared on EUR/USD. Price has gone up by more than 90 pips this week and it is now moving sideways. The resistance level at 1.1250 is currently being besieged, having been tested several times. It would soon be breached to the upside. Further upwards movement is expected, which may take price towards the resistance at 1.1300 and 1.1350.
USD/CHF: A bearish signal has already appeared on the USD/CHF. Price has gone down by 120 pips this week and it is currently consolidating. Further downwards movement is expected, which may take price towards the support levels at 0.9650 and 0.9600.
GBP/USD: Although there has been a pullback in the market, the bullish bias is intact. This kind of bearish retracement is what can offer another opportunity for latecomers to join the bullish trend, for the market would resume its uptrend. The next targets for bulls are located at the distribution territories at 1.3400, 1.3450, and 1.3600. The distribution territory at 1.3400 was previously attained.
USD/JPY: There is a now a Bearish Confirmation Pattern on USD/JPY. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. Price might reach the demand levels at 101.00 and 100.50. After all, the long-term bias on JPY pairs is bearish.
EUR/JPY: There is now a “sell” signal on the EUR/JPY cross, owing to the Bearish Confirmation Pattern in the market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50. Bears are aiming to reach the demand zones at 114.00 and 113.50.
The material has been provided by InstaForex Company – www.instaforex.com Source: Instaforex.com
EUR/USD: A
bullish signal has already appeared on EUR/USD. Price has gone up by more
than 90 pips this week and it is now moving sideways. The resistance level at
1.1250 is currently being besieged, having been tested several times. It would
soon be breached to the upside. Further upwards movement is expected, which may
take price towards the resistance at 1.1300 and 1.1350.
USD/CHF: A bearish signal has
already appeared on the USD/CHF. Price has gone down by 120 pips this week and
it is currently consolidating. Further downwards movement is expected, which
may take price towards the support levels at 0.9650 and 0.9600.
GBP/USD: Although there has been
a pullback in the market, the bullish bias is intact. This kind of bearish
retracement is what can offer another opportunity for latecomers to join the
bullish trend, for the market would resume its uptrend. The next targets for
bulls are located at the distribution territories at 1.3400, 1.3450, and 1.3600.
The distribution territory at 1.3400 was previously attained.
USD/JPY: There is a now a Bearish
Confirmation Pattern on USD/JPY. The EMA 11 is below the EMA 56 and the RSI
period 14 is below the level 50. Price might reach the demand levels at 101.00
and 100.50. After all, the long-term bias on JPY pairs is bearish.
EUR/JPY: There is now a “sell”
signal on the EUR/JPY cross, owing to the Bearish Confirmation Pattern in the
market. The EMA 11 is below the EMA 56, and the RSI period 14 is below the
level 50. Bears are aiming to reach the demand zones at 114.00 and 113.50.
The material has been provided by InstaForex Company – www.instaforex.com
Source: Instaforex.com
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