Daily analysis of major pairs for January 13, 2015
January 13, 2015 7:30 am
EUR/USD: This pair has not moved significantly this week. The long-term bias is bearish but it now appears that the bearish pressure in the market is thinning out. While the price may test the resistance lines at 1.1800 and 1.1750 respectively, there could be a serious short-term rally after that.
USD/CHF: This currency trading instrument has not assumed a serious directional bias this week, although the long-term bias is bullish. It is probable that the resistance levels at 1.0200 and 1.0250 might be tested successively. In fact, the resistance levels may serve as impediment to further rallies, because the price may nosedive from there, testing the support level at 1.0050.
GBP/USD: The Cable is making effort to go bullish but the overall outlook is bearish. Since the price touched the accumulation territory at 1.5050, the market has moved upwards by more than 120 pips, now moving close to the distribution territory at 1.5200. It is only a movement above the distribution territory at 1.5300 that can threaten the extant bearish bias.
USD/JPY: In spite of the high volatility on the USD/JPY pair, the influence of bears can still be seen. The price is now under the supply level at 118.50, and there is a possibility that the price may test the demand level at 117.50; even if there is going to be a rally after that.
EUR/JPY: This cross has continued its southward attempt in a slow and steady manner. The price is very close to the demand zone at 139.50, which could be tested (it could even be breached to the upside).
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: This
pair has not moved significantly this week. The long-term bias is bearish but
it now appears that the bearish pressure in the market is thinning out. While
the price may test the resistance lines at 1.1800 and 1.1750 respectively,
there could be a serious short-term rally after that.
USD/CHF: This
currency trading instrument has not assumed a serious directional bias this
week, although the long-term bias is bullish. It is probable that the
resistance levels at 1.0200 and 1.0250 might be tested successively. In fact,
the resistance levels may serve as impediment to further rallies, because the price
may nosedive from there, testing the support level at 1.0050.
GBP/USD: The
Cable is making effort to go bullish but the overall outlook is bearish. Since
the price touched the accumulation territory at 1.5050, the market has moved upwards
by more than 120 pips, now moving close to the distribution territory at 1.5200.
It is only a movement above the distribution territory at 1.5300 that can threaten
the extant bearish bias.
USD/JPY: In spite
of the high volatility on the USD/JPY pair, the influence of bears can still be
seen. The price is now under the supply level at 118.50, and there is a
possibility that the price may test the demand level at 117.50; even if there
is going to be a rally after that.
EUR/JPY: This cross has continued its southward attempt
in a slow and steady manner. The price is very close to the demand zone at
139.50, which could be tested (it could even be breached to the upside).
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