Daily analysis of major pairs for June 26, 2015
June 26, 2015 7:20 amVideo
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EUR/USD: This
market is bearish in the near term, though the movement is developing some
equilibrium propensity. The price is likely to go further
south. The support line at 1.1150 was tested and it could be breached to the
downside.
USD/CHF: There is
a bullish signal on the USD/CHF chart and it would be valid as long as the support
level at 0.9250 is not breached to the downside. The resistance level at 0.9400
has been tested and it could be tested again. It could even be breached to the
upside.
GBP/USD: On the cable, a current short-term rally might proffer another short-selling
opportunity. Any movement below the accumulation territory at 1.5600 would
result in a clean Bearish Confirmation Pattern (especially as the market goes
further downwards). By then, the EMA 11 would have crossed the EMA 56 to the
downside, and the crossing is almost taking place. The RSI period 14 is already
below the level of 50. This expectation may be overturned in case the distribution
territory at 1.5850 is crossed to the upside.
USD/JPY: This pair is moving sideways. There
is one outcome: sideways and slow movements would be followed by strong
and fast movements, no matter how long the slow movements take. Strong and fast
movements would be followed by sideways and slow movements, no matter how long
the fast movements take. When the markets are moving slowly and sideways, trend-following
strategies do not provide great results, but scalpers and short-term traders
thrive. When the markets are moving fast and directionally, trend-following
strategies produce great results. On the USD/JPY, there would be a great
directional movement in July 2015 (and most probable in direction of bears).
EUR/JPY: The EUR/JPY pair is a bearish market, and since the bearish signal has been formed. The market has been moving sideways. However, there could be a significant movement today or next week. The fundamental economic data from the eurozone could have a great impact on the market.
The material has been provided by InstaForex Company – www.instaforex.com
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