InstaForex - Analytics

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Daily analysis of major pairs for June 9, 2015

EUR/USD: The EUR/USD pair moved upwards by 200 pips on Monday, closing above the support line at 1.1250. Further bullish movement is possible and the next bullish targets are located at the resistance lines of 1.1400 and 1.1450.

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USD/CHF: The USD/CHF pair moved downwards by 150 pips on Monday, closing below the resistance level at 0.9300. Further bearish movement is possible and the next targets are located at the support levels of 0.9250 and 0.9200.

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GBP/USD: In a negative correlation attempt with EUR/USD, the cable has made some weak upwards efforts (though the general market outlook remains bearish). Only a movement above the distribution territory at 1.5450 would lead to a new bullish signal; otherwise sell short.

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USD/JPY: This pair has been coming down gradually, starting from this week. This can be coased by a bearish correction in a context of an uptrend. It might happen that the price would go upwards from here, for the uptrend cannot be invalidated as long as the price is above the demand level of 123.00.

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EUR/JPY: Once again, we see the euro at work (as other EUR pairs are also making a rally). In the next several days, what happens to the euro would dominate the cross. There is a Bullish Confirmation Pattern in this market. Thus, a further northward movement is possible.

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