empty
 
 
17.07.2015 08:48 AM
Daily analysis of major pairs for July 17, 2015

EUR/USD: This market has gone below the resistance line at 1.0900. Going below that resistance means that bears have lots of energy at the moment, so long trades are not recommended now. Unless the USD loses stamina, the support line at 1.0850 could be easily tested and breached to the downside.

This image is no longer relevant

USD/CHF: Since this currency trading instrument has to go in an opposite direction to the EUR/USD pair, it has succeeded in going above the support level at 0.9550. The next target to be reached is the resistance level at 0.9600; unless the USD loses stamina.

This image is no longer relevant

GBP/USD: The cable has made some attempt to go further upwards this week, but there is a form of opposition at the distribution territory of 1.5650. It looks as though the price is in opposition to bears. With more buying pressure, that distribution territory could be breached to the upside.

This image is no longer relevant

USD/JPY: This pair has gone above the demand level at 124.00, going towards the supply level at 124.50. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level of 50. The Bullish Confirmation Pattern in the chart is now very strong and further bullish movement is possible.

This image is no longer relevant

EUR/JPY: The EUR/JPY cross has started trending downwards owing to the weakness in EUR. A southward breakout of the recent short-term equilibrium phase means that the price could go further south. The demand zone at 134.50 could be breached to the downside.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback