Daily analysis of major pairs for December 15, 2017
December 15, 2017 8:22 am
EUR/USD: The EUR/USD pair rose upwards on Wednesday and came down on Thursday. That action has put some emphasis on the bearish bias, which would not be overridden, until the resistance line at 1.1900 is breached to the upside (and that will require a heavy buying pressure).
USD/CHF: The USD/CHF pair generated a short-term “sell” signal this week, which is supposed to propel price further southwards. The market has lost about 80 pips this week, and it may reach the support levels at 0.9800 and 0.9750. Right now, consolidation is in progress, but it would soon translate into volatility.
GBP/USD: The “sell” signal that was generated earlier has been rendered ineffectual by the bullish effort that was witnessed yesterday (which has also resulted in some bullishness). A rise above the distribution territory at 1.3500 would result in a bullish bias, while a drop below the accumulation territory at 1.3250 would result in a bearish bias.
USD/JPY: On the USD/JPY pair, the relentless bearish effort that has been witnessed this week has resulted in a Bearish Confirmation Pattern in the 4-hour chart. Price has gone downwards by 130 pips, and it is now below the supply level at 112.50, going towards the demand level at 112.00. There is another target at the demand level of 111.50.
EUR/JPY: This cross has gone downwards gradually this week – shedding 150 pips. The EMA 11 is below the EMA 56 and the RSI period 14 is below the level 50. There is a bearish Confirmation Pattern in the chart and price is expected to go further southwards, reaching the demand zones at 132.00 and 131.00.
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: The EUR/USD pair rose upwards on
Wednesday and came down on Thursday. That action has put some emphasis on the
bearish bias, which would not be overridden, until the resistance line at
1.1900 is breached to the upside (and that will require a heavy buying
pressure).
USD/CHF: The USD/CHF pair generated a short-term
“sell” signal this week, which is supposed to propel price further southwards.
The market has lost about 80 pips this week, and it may reach the support
levels at 0.9800 and 0.9750. Right now, consolidation is in progress, but it would soon
translate into volatility.
GBP/USD: The
“sell” signal that was generated earlier has been rendered ineffectual by the
bullish effort that was witnessed yesterday (which has also resulted in some
bullishness). A rise above the distribution territory at 1.3500 would result in
a bullish bias, while a drop below the accumulation territory at 1.3250 would
result in a bearish bias.
USD/JPY: On
the USD/JPY pair, the relentless bearish effort that has been witnessed this week
has resulted in a Bearish Confirmation Pattern in the 4-hour chart. Price has
gone downwards by 130 pips, and it is now below the supply level at 112.50,
going towards the demand level at 112.00. There is another target at the demand
level of 111.50.
EUR/JPY: This cross has gone downwards gradually this
week – shedding 150 pips. The EMA 11 is below the EMA 56 and the RSI period 14
is below the level 50. There is a bearish Confirmation Pattern in the chart and
price is expected to go further southwards, reaching the demand zones at 132.00
and 131.00.
The material has been provided by InstaForex Company – www.instaforex.com
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