Daily analysis of major pairs for January 10, 2014
January 10, 2014 8:30 am
EUR/USD: В On this pair, the outlook that was seen yesterday remains unchanged. In the market, the current surge (upturn) in the price simply means that it is rising in the context of a downtrend. The downtrend is still a valid thing, and the price is not expected to go above the resistance line of 1.3650.
USD/CHF: В On the USD/CHF, the outlook that was seen yesterday remains unchanged. In the market, the current weakness (downturn) in the price simply means that it is falling in the context of an uptrend. The uptrend is still a valid thing, and the price is not expected to go below the support level of 0.9050.
GBP/USD: В Here too, there have not been any significant changes in the market since the forecast for yesterday was made. Although the price is currently moving sideways, it is within the bullish bias and it is hoped that when a breakout does occur, it would be in favor of the bulls. It is still realistic that the price will test (or even breach) the distribution territory of 1.6500.
USD/JPY: On the USD/JPY, the price level of 105.00 remains under siege, with the bulls’ determination not waning. That level may eventually be overcome, and the price will move towards the supply level at 105.50. This is realistic because the bullish bias is still extant.
EUR/JPY: В Although this market has not moved that much since the beginning of this week, the price action clearly shows that the bulls are highly determined to keep up threatening the recent bearish signal, which has almost been rendered invalid, for the RSI period 14 has already crossed the level 50 to the upside. It would eventually be rendered invalid.В В
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EUR/USD: В On this pair, the outlook that was seen yesterday
remains unchanged. In the market, the current surge (upturn) in the price
simply means that it is rising in the context of a downtrend. The downtrend is
still a valid thing, and the price is not expected to go above the resistance
line of 1.3650.
USD/CHF: В On the USD/CHF, the outlook that was seen
yesterday remains unchanged. In the market, the current weakness (downturn) in
the price simply means that it is falling in the context of an uptrend. The
uptrend is still a valid thing, and the price is not expected to go below the
support level of 0.9050.
GBP/USD: В Here too, there have not been any significant changes
in the market since the forecast for yesterday was made. Although the price is
currently moving sideways, it is within the bullish bias and it is hoped that
when a breakout does occur, it would be in favor of the bulls. It is still
realistic that the price will test (or even breach) the distribution territory
of 1.6500.
USD/JPY: On the
USD/JPY, the price level of 105.00 remains under siege, with the bulls’
determination not waning. That level may eventually be overcome, and the price
will move towards the supply level at 105.50. This is realistic because the bullish
bias is still extant.
EUR/JPY: В Although this market has not moved that much
since the beginning of this week, the price action clearly shows that the bulls
are highly determined to keep up threatening the recent bearish signal, which has
almost been rendered invalid, for the RSI period 14 has already crossed the
level 50 to the upside. It would eventually be rendered invalid.В В
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