Adsense

Sunday, September 14, 2014

Daily analysis of major pairs for September 15, 2014

The EUR/JPY continues to be strong as a result of the weakness in the Yen and further bullish determination in the Euro. The Bullish Confirmation Pattern in the market is very conspicuous and one supply zone after the other has been breached. Right now, the price is moving above the demand zone at 139.00, going towards the supply zone at 140.00.

EUR/USD:  This pair is still bearish in the long term, but bullish in the near term. The bulls have shown their determination to keep on making attempts for the price to go further upwards in spite of serious battering from the bears. A movement above the resistance line at 1.3050 would mean the end of the bullish outlook and the beginning of the bearish outlook. On the other hand, the price may become weak and go towards the support line at 1.2850. That is in the case when the bearish move is once again renewed.

USD/CHF: This currency trading instrument closed at 0.9332 (Friday, September 12, 2014); on a bullish note. There is an immediate support level at 0.9300, while the price is expected to go further north this week, testing the resistance level at 0.9400.


GBP/USD:  Just like its EUR/USD counterpart, the Cable is also showing some determination to go further upwards, although the long-term bias is bearish. Any movement above the distribution territory at 1.6300 would mean the beginning of a new bullish journey, but the price may fall back towards the accumulation territory at 1.6150.

USD/JPY:  This pair is strong and it is now above the demand level at 107.00. The first target for this week would be reached at the supply level of 107.50.

EUR/JPY:  The EUR/JPY continues to be strong as a result of the weakness in the Yen and further bullish determination in the Euro. The Bullish Confirmation Pattern in the market is very conspicuous and one supply zone after the other has been breached. Right now, the price is moving above the demand zone at 139.00, going towards the supply zone at 140.00. That is our target for this week. 

Performed by Azeez Mustapha,
Analytical expert
InstaForex Companies Group



No comments:

Post a Comment

The default minimum deposit amounts are: $100 for Micro accounts, $500 for Pro-Managed accounts, and $2,000 for Pro accounts However, an optional "suggested deposit amount" parameter may be used.