Author Topic: Daily analysis of major pairs for April 4, 2017  (Read 240 times)

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Daily analysis of major pairs for April 4, 2017
« on: April 04, 2017, 12:12:43 PM »
The EUR/JPY has dropped by over 100 pips this week. Since March 13, 2017, price has gone down 500 pips, now below the supply zone at 118.00. There is a Bearish Confirmation Pattern in the chart, and further bearish movement is anticipated, especially in the face of a bearish outlook on JPY pairs.

EUR/USD: There is a bearish bias on the EUR/USD, and price could move further and further southwards, testing the support lines at 1.0600 and 1.0550. The outlook on EUR pairs is bearish for April, and dips would be witnessed in most cases.

USD/CHF: The USD/CHF still maintains its bullishness, despite some hidden consolidation in the market. Price is still above the important support line at 1.0000, going towards the resistance line at 1.0050 and 1.0100, which would be the targets for this week. The bullishness in the market would be logical as long as price is above the support line at 1.0000.

GBP/USD: In spite of what happened here last week, the Cable remains bullish. Price would rise further upwards, testing the distribution territory at 1.2600 (which was also tested last week). GBP pairs would trend upwards and downwards strongly this month; though certain movement would be downwards.

USD/JPY: There is a bearish signal on the USD/JPY, brought about by the bearish movement that occurred on Monday. Price is below the supply level at 111.00, and very close to the demand level at 110.50. The next target for bears are located at the demand levels at 110.00 and 109.50, which would be attained before the end of this week.

EUR/JPY: The EUR/JPY has dropped by over 100 pips this week. Since March 13, 2017, price has gone down 500 pips, now below the supply zone at 118.00. There is a Bearish Confirmation Pattern in the chart, and further bearish movement is anticipated, especially in the face of the bearish outlook on JPY pairs.

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Daily analysis of major pairs for April 4, 2017
« on: April 04, 2017, 12:12:43 PM »

 

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