Author Topic: Daily analysis of major pairs for January 30, 2018  (Read 610 times)

Offline Instaforex Analyst

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Daily analysis of major pairs for January 30, 2018
« on: January 30, 2018, 07:53:23 AM »
A short-term ?sell? signal has been generated on the EUR/JPY. This cross, which consolidated last week, has started coming down on Monday. Price is now below the supply zone at 134.50, going towards the demand zone at 134.00 (the first target). Price may also reach the demand zone at 135.50 today or tomorrow.


EUR/USD: What is happening in the market can now be termed a sale in the context of a downtrend. Price merely came down by 40 pips on January 29, and that may end up being a good opportunity to buy long at better prices. It is expected that price could turn upwards from here; otherwise, a threat to the extant bullish signal may appear when price goes further southwards.

USD/CHF: The USD/CHF did nothing significant on Monday. Since the outlook on USD is bearish for this week and for February; and since the outlook on CHF is bright (bullish) for February, it is expected that USDCHF would remain under bearish pressures.

GBP/USD: The GBP/USD has continued the bearish correction that started last Friday, but that has not yet rendered the bullish outlook on the market invalid. While price may go upwards again to test the distribution territories at 1.4200 and 1.4250, there would soon be a serious pullback, which may signal a start of a bearish journey. The outlook on GBP pairs is bearish for this week and for February.

USD/JPY: This is a bear market ? with a Bearish Confirmation Pattern in the chart. This month, from a high of 113.40, the market has gone south by 500 pips. The demand level at 108.50 was tested last week, and price may test it again. As long as the USD is weak, price would continue to go southwards.

EUR/JPY:  A short-term ?sell? signal has been generated on the EUR/JPY. This cross, which consolidated last week, has started coming down on Monday. Price is now below the supply zone at 134.50, going towards the demand zone at 134.00 (the first target). Price may also reach the demand zone at 135.50 today or tomorrow.

Performed by Azeez Mustapha,
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Daily analysis of major pairs for January 30, 2018
« on: January 30, 2018, 07:53:23 AM »

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