empty
 
 
13.07.2017 04:36 AM
Daily analysis of major pairs for July 13, 2017

EUR/USD: The EUR/USD moved further upwards yesterday, now above the support line at 1.1400, and going towards the resistance line at 1.1450. There is a Bullish Confirmation Pattern in the 4-hour chart, and the price would continue to move upwards, going above the resistance line at 1.1450.

This image is no longer relevant

USD/CHF: Right now, the market is moving in a zigzag mode, and it is better to stay away from it until there is a directional movement. A continuous zigzag movement would make the market look unattractive, while a movement above the resistance level at 0.9750 would help generate a bullish signal. A movement below the support level at 0.9550 would lead to a clear bearish signal. A healthy volatility is needed in this market, to achieve this.

This image is no longer relevant

GBP/USD: The GBP/USD is bearish in the shorter-term, and price has not done anything significant this week. The market is in a sideways movement, and should this continue, the bias could turn neutral very soon. However, a rise in momentum is anticipated before the end of this week.

This image is no longer relevant

USD/JPY: The USD/JPY has undergone some meaningful bearish correction in the last few days. This has posed some threat to the recent bullish bias, and as soon as the price goes below the demand level at 112.50, a bearish signal would form. On the other hand, a movement to the upside would help restore the bullishness in the market.

This image is no longer relevant

EUR/JPY: Just like the USD/JPY, this cross pair has also undergone some sale in the context of an uptrend. The RSI period 14 has generated a bearish signal, but the EMAs 11 and 56 are yet to follow suit. When the EMA 11 crosses the EMA 56 to the downside, a bullish signal would be formed.

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 $1000 more!
    In June we raffle $1000 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