empty
 
 
10.10.2017 05:30 AM
Daily analysis of major pairs for October 10, 2017

EUR/USD: On Monday, the EUR/USD went upwards in the context of a downtrend. Unless price goes above the resistance line at 1.1850 (which would require a strong buying pressure), the upwards movement would create a good opportunity to go short at a better price. The support lines at 1.1750 and 1.1700 could thus be tested again.

This image is no longer relevant

USD/CHF: The USD/CHF, on October 9, has moved further sideways, while the bias remains bullish. This pair has been bullish for the past few weeks, but the further sideways movement could result in a neutral bias. So in order for a neutral bias not to form, there is a need for a directional movement.

This image is no longer relevant

GBP/USD: The GBP/USD went upwards yesterday in a context of a downtrend. Price could test the distribution territories at 1.3200 and 1.3250, but it would turn southwards to reach the accumulation territories at 1.3100 and 1.3050, which has been previously tested.

This image is no longer relevant

USD/JPY: There is an ongoing equilibrium phase in the market. A movement above the supply level at 114.00 would affirm the long-term bullish bias, while a movement below the demand level at 111.00 would result in bearish bias. One of these two conditions would be met this week since it is expected that momentum would soon go out of balance.

This image is no longer relevant

EUR/JPY: This cross is bullish in the long-term, and now, neutral in the short-term. Price did practically nothing yesterday, but a closer look at the market reveals that bulls are subtly gaining upper hands, and they may push price upwards this week, as it goes towards the supply zone at 133.00, 133.50 and 134.00.

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 October 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