24.11.201510:26 Forex Analysis & Reviews: Daily analysis of major pairs for November 24, 2015

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EUR/USD: This EUR/USD pair did not make any significant movement on Monday, though the bias remains bearish. It is possible that the price would continue moving southwards; there is also a possibility that the price will rise sharply.

USD/CHF: This pair also did not move upwards very much on Monday, though the bias is bullish. The price now lays siege at the resistance level of 1.0200, which must be broken to the upside so that the bullish bias could continue. On the other hand, the support levels are found at 1.0150 and 1.0100.

GBP/USD: The cable traded lower on Monday – something that started on Friday. Since then, the price has come down by at least 170 pips, moving closer to the accumulation territory of 1.5100. The next target for bears is easy to be seen: the aforementioned accumulation territory, which would be breached to the downside for the bearish journey to continue.

USD/JPY: The USD/JPY pair is still behaving exactly as it did last week. It just went up and down in a shallow manner, though the bullish bias remains valid. This week, there is a probability that the pair could continue moving upwards owing to the expected loss of stamina in the yen.

EUR/JPY: This cross still shows a strong willingness to continue trending downwards in conjunction with the extant bias in the market. The Bearish Confirmation Pattern looks very strong in the chart, and the weakness in the market should continue as long as the euro is weak versus the yen.

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