InstaForex - Analytics

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Daily analysis of major pairs for June 4, 2015

EUR/USD: TThe EUR/USD pair has gone bullish as bulls continue to push the price further north. The resistance line at 1.1300 is the next target for bulls. If it gets breached to the upside, another resistance line at 1.1350 would be the next target. Certain fundamental figures are expected today and they would have an impact on the markets.

 

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USD/CHF: There is a sell signal on this pair which would be valid as long as CHF and EUR/USD are strong. The EMA 11 is below the EMA 56 and the Williams' % Range is very close to the oversold region. The best action to take here is to go short.

 

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GBP/USD: What is now happening on the cable should best be described as a rally in the context of a downtrend. Unless the distribution territory at 1.5450 is breached to the upside, the current price action would be seen as a rally in the context of an uptrend, and the price could dive again towards the accumulation territory at 1.5200.

 

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USD/JPY: The market is bullish. The Bullish Confirmation Pattern in the market remains intact irrespective of the current consolidation. This bullish outlook is valid (unless the demand level at 122.50 is breached to the downside) and the price may break out further upwards.

 

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EUR/JPY: This is a significantly strong market in which the strength is coupled with weakness in the yen and the stamina in the euro. The current sideways movement is seen as a pause in the northwards journey and the price may break further upwards.

 

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