Daily analysis of major pairs for December 25, 2013

EUR/USD: EUR/USD
has been able to maintain its bearish bias, though the volatility in the market
is currently low. It is expected that the pair would go towards the support
line of 1.3650 again when some strong movement occurs. On a longer term basis,
the price would overcome the aforementioned support line and overcome it to the
downside.

USD/CHF: USD/CHF has been able to maintain its
bullish bias, though the volatility in the market is currently low. It is
expected that the pair would go towards the resistance level of 0.9000 again
when some strong movement occurs. On a longer term basis, the price would
overcome the aforementioned resistance level and overcome it to the upside.

GBP/USD:  There is now a kind of clear signal on the
Cable. The signal is bullish (the RSI period 14 is above the level 50 and
the EMA 11 is now above the EMA 56). The price is currently showing some
bullish determination and it may eventually go towards the distribution territory
of 1.6400.

USD/JPY: This is
also a bullish market, there is a Bullish Confirmation Pattern in the
chart. The supply level of 104.50, which was tested a few times last week,
stands another chance of being tested again. With the increase in the buying
pressure, the currency instrument may even overcome this supply level.

EUR/JPY: This
cross is in the bull market, having been moving protractedly upwards in recently. The ultimate accomplishment now is the probability of the price breaching
a new high of 143.00 to the upside.  

The material has been provided by InstaForex Company – www.instaforex.com