Daily analysis of major pairs for January 15, 2014
January 15, 2014 8:45 am
EUR/USD: On this pair, we are watching the resistance lines at 1.3700 and 1.3750 as barriers to any possible rallies. We are also watching the supports line at 1.3600 and 1.3550 as possible barriers to bearish runs. Generally, the market is in a kind of equilibrium phase, but the bulls still seem to be gaining upper hands.
USD/CHF: В On this pair, we are watching the resistance levels at 0.9100 and 0.9150 as barriers to any possible rallies. We are also watching the support levels at 0.9000 and 0.8950 as possible barriers to bearish runs. Generally, the market is already in a bullish phase, and the price could reach the resistance level at 0.9100.
GBP/USD: В This market has really become volatile and there is a serious struggle between the bulls and the bears, while it appears that the bulls could lose out. There is still a bearish indication in the chart, though weak. Unless the Cable gets a new lease of stamina, the target for this week remains at the accumulation territory at 1.6300. It should, however, be noted that the accumulation territory at 1.6350 would need to be broken first.
USD/JPY: From the demand level at 103.50, the USD/JPY rose upwards by more than 150 pips, resulting in a bullish bias. It is better to seek long trades now.
EUR/JPY: The EUR/JPY has quickly recovered the losses it sustained this week. The recent bearish plunge was rejected at the demand zone of 140.50. From there, the market rallied by over 190 pips. Any price movement above the supply zone at 143.00 would mean things have gone bullish, although it is doubtful whether the bulls could drive the price further higher for a long time.В В
The material has been provided by InstaForex Company – www.instaforex.com
EUR/USD: On this pair, we are watching the resistance
lines at 1.3700 and 1.3750 as barriers to any possible rallies. We are also
watching the supports line at 1.3600 and 1.3550 as possible barriers to bearish
runs. Generally, the market is in a kind of equilibrium phase, but the bulls
still seem to be gaining upper hands.
USD/CHF: В On this pair, we are watching the resistance
levels at 0.9100 and 0.9150 as barriers to any possible rallies. We are also watching
the support levels at 0.9000 and 0.8950 as possible barriers to bearish runs.
Generally, the market is already in a bullish phase, and the price could reach
the resistance level at 0.9100.
GBP/USD: В This market has really become volatile and
there is a serious struggle between the bulls and the bears, while it appears
that the bulls could lose out. There is still a bearish indication in the
chart, though weak. Unless the Cable gets a new lease of stamina, the target
for this week remains at the accumulation territory at 1.6300. It should,
however, be noted that the accumulation territory at 1.6350 would need to be broken
first.
USD/JPY: From the
demand level at 103.50, the USD/JPY rose upwards by more than 150 pips,
resulting in a bullish bias. It is better to seek long trades now.
EUR/JPY: The
EUR/JPY has quickly recovered the losses it sustained this week. The recent
bearish plunge was rejected at the demand zone of 140.50. From there, the
market rallied by over 190 pips. Any price movement above the supply zone at
143.00 would mean things have gone bullish, although it is doubtful whether the
bulls could drive the price further higher for a long time.В В
Related Posts: