Daily analysis of USD/CHF for April 8, 2018
USD/CHF
The pair remains bullish in the short-term (and its
fate is largely subject to whatever happens to EURUSD). Price went upwards last
week, almost reaching the resistance level at 0.9650, and then getting
corrected lower. The short-term bullishness will be rendered ineffectual only
when price goes below the support level at 0.9500.
On the other hand, a movement above the resistance
level at 0.9700 will result in a stronger bullish bias on the market. There is
a Bullish Confirmation Pattern in the 4-hour chart, and thus, price is expected
to go further upwards, irrespective of temporary pullbacks along the way.
Daily analysis of USD/JPY for April 8, 2018
USD/JPY
The USD/JPY is bearish in the long-term, and bullish
in the short-term. In the short-term, price gained 180 pips from the low of
last week, reaching the supply level at 107.50. Then there was a slight bearish
correction in the market, which would eventually turn out to be an opportunity
to buy long at better prices. A rally is very likely this week, which would
push price upwards by 200 pips.
This movement would be strong enough to override the
long-term bearishness in the market. There is a Bullish Confirmation Pattern in
the 4-hour chart, and thus, price is expected to go further upwards, reaching
other supply levels at 107.50 and 108.00.
Daily analysis of EUR/JPY for April 8, 2018
EUR/JPY
This cross is bearish in the long-term, and rather neutral in the
short-term. Another reality is that the market condition is currently choppy,
but that might come to an end when a rally occurs in the market. There is a
strong likelihood of a rally here, owing to a bullish expectation on JPY pairs
for this week.
The supply zones at 131.50, 132.00 and 132.50 could be reached when a
bullish movement begins. There is now a Bullish Confirmation Pattern in the
market, and that would become more important as price goes further northwards.
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