19.09.201409:30 Forex Analysis & Reviews: Daily analysis of major pairs for September 19, 2014

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD: The bearish bias on this pair is still valid and rallies have always proffered good short-selling opportunities. The current shallow rally in the market is also seen as another opportunity to go short when the price rallies in the context of a downtrend. As long as the price is below the resistance line at 1.3000, there is a probability that the market may move downwards.

USD/CHF: This market is in a bullish mode and the buyers have always made attempts to drive the price higher in spite of serious challenges from bears. With more strength in the USD, the price may reach the resistance level at 0.9450. More challenges from the bears may cause the price to pull back towards the support level at 0.9300.

GBP/USD: Unlike its EUR/USD counterpart, the Cable has succeeded in shrugging off the bears’ attacks. The EMA 11 is above the EMA 56 (while the price is above both of them). The RSI period 14 is above the level 50. This means a Bullish Confirmation Pattern in the chart. Short trades are no longer logical here.

USD/JPY: The USD/JPY pair has been able to go further northward. The bullish bias is very significant and the price may easily test the supply level at 109.00, breaking it to the upside. However, the market looks very overbought and as a result of this, there may be a serious pullback along the way.

EUR/JPY: The Euro itself is not that strong; it is the great weakness in the Yen that has caused this pair to trend upwards significantly. The market is now very overbought and therefore, a pullback is imminent. While the market can go towards the supply zone at 150.00, the possibility of a pullback may bring it down towards the demand zone at 139.50.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.