empty
 
 
19.07.2017 06:47 AM
Daily analysis of major pairs for July 19, 2017

EUR/USD: The EUR/USD has moved upwards seriously this week. Any short-term bearish corrections in the market may be followed by more bullish attempts. The outlook on the EUR/USD is bullish for this week, and the next target is located at the resistance line at 1.1600, which may be exceeded.

This image is no longer relevant

USD/CHF: The USD/CHF has gone seriously downwards this week, moving below the resistance level at 0.9550. A short-term upwards bounce may help price reach the resistance level at 0.9600 (which may reject the bounce). It is expected that the market would fall further today and tomorrow.

This image is no longer relevant

GBP/USD: The GBP/USD is currently being corrected, but the bullish bias on it has remained intact (unless the price drops by 200 pips from here). Further bearish attempts could be contained at the accumulation territory at 1.2950. It is possible to see the GBP/USD go upwards by over 200 pips from here, putting more emphasis on the recent bullish bias.

This image is no longer relevant

USD/JPY: There is a Bearish Confirmation Pattern in the USD/JPY 4-hour chart. Owing to the weakness of USD, the EMA 11 has crossed the EMA 56 to the downside. About 230 pips have been given up since last week, and it is expected that the market would continue to go more and more bearish, reaching the demand levels at 112.00, 111.50 and 111.00.

This image is no longer relevant

EUR/JPY: This is a flat market. The cross has not done anything significant so far this week, and it may be OK to stay away until there is a directional movement. There is a supply zone at 130.50 and there is a demand zone at 128.00. Either of this must be breached to the upside or the downside before there can be a directional bias.

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