InstaForex - Analytics

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Daily analysis of major pairs for June 16, 2015

EUR/USD: The EUR/USD pair has potential to move further upwards, reaching the resistance line at 1.1350. With more buying pressure, another resistance line at 1.1400 could also be reached. However, any movement below the support line at 1.1150 would pose the serious threat to the extant bullish outlook.

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USD/CHF: This pair continues to be volatile as struggles between bull and bear continue. As it was mentioned last week, the support level at 0.9250 should be breached to the downside. So, the existing bearish bias would become stronger. Otherwise, there would be a risk of a significant upward movement.

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GBP/USD: This pair has potential to move further upwards, reaching the distribution territory around1.5650. With more buying pressure, another distribution territory at 1.5700 could also be reached. However, any movement below accumulation territory at 1.5400 would pose the serious threat to the extant bullish outlook.

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USD/JPY: In spite of the struggles, thetrend in the USD/JPY pair is still bearish in the short-term. The only factor that can render the bearish trend useless is an event in which the price goes above the supply level at 125.00; otherwise the bearish outlook would be valid for most part of this week.

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EUR/JPY: The consolidation phase that started here last week has continued until now. Bulls are making attempts, which could become more conspicuous when the supply zone at 140.50 is crossed to the upside. This expectation may not materialize if EUR becomes realy weak.

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