Daily analysis of major pairs for December 30, 2013

EUR/USD: Last
week, this pair shot upwards significantly and then pulled back. This pullback
is supposed to be short-term: not going below the support line at 1.3700, for
the Bullish Confirmation Pattern in the chart is still a valid thing. It is
likely that the price would test the resistance line at 1.3900 this or
next week.

USD/CHF:  Last week, this pair shot downwards significantly
and then rallied. This rally is supposed to be short-term: not going above the
resistance level at 0.8950, for the Bearish Confirmation Pattern in the chart is
still a valid thing. It is likely that the price would test the support level
at 0.8800 this week or next week. 

GBP/USD: This
currency trading instrument trended significantly higher last week, closing at
1.6480. The price was able to test the distribution territory at 1.6550 before
it experienced the current pullback (which is a great chance to go long when
things are on sale within an uptrend). The price would not go below
the distribution territory at 1.6400, before turning upwards, for the bullish
bias in the market remains extant. It is forecasted that the price could touch
the distribution territory of 1.6550 again.

USD/JPY: At last,
the USDJPY succeeded in trading above the market level at 105.00. The bias is
bullish and the price is expected to trade further upwards this week. The next
target is at the supply level of 105.50.

EUR/JPY: This cross is bullish, though the market closed as
things went temporary on sale as a result of a short-term weakness of the Euro,
which is also the reason behind the bearish correction on the EUR/USD itself.
The price would, however, go up again.  The material has been provided by InstaForex Company – www.instaforex.com