19.01.201601:47 Forex Analysis & Reviews: Daily analysis of major pairs for January 19, 2016

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EUR/USD: The condition affecting the EUR/USD pair is quite similar to the condition affecting the USD/CHF. So these two pairs must be watched closely. Just like the latter, the bias is likely to be neutral in the near term.

USD/CHF: The bias is neutral in the near-term because the pair has not made any strong directional movement. There are short-term upswings and downswings in the market, but a predictable directional movement is anticipated this week or next week, which would most probably favor bears.

GBP/USD: This currency trading instrument traded lower on Monday still showing a serious determination to a further trend downwards. In this market, long trades should not be opened; plus any rallies seen here should become selling opportunities unless a rally pushes the price upwards by at least 300 pips. This is the only situation that can threaten the bearish bias.

USD/JPY: USD/JPY was moving sideways on Monday. Our outlook on the market is still bearish (just as the case is on most other JPY pairs). The price is likely to continue trending further downwards this week reaching the demand levels of 116.00 and 115.50.

EUR/JPY: The EUR/JPY pair moved simply sideways on Monday. The bias is bearish in the near term and we may see a breakout to the upside or the downside today owing to the expected fundamental figures, which might have impact on the markets. The events affecting the euro would surely effect this cross.

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