InstaForex - Analytics

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Daily analysis of major pairs for June 29, 2015

EUR/USD: There is already a bearish signal on this pair, though there is a formidable barrier to the bears' interest at the support of 1.1150. A breakout of that support line would enable the price to go further southwards more smoothly.

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USD/CHF: This market has the propensity to go upwards, which would become possible in case EUR/USD goes further downwards. There is a stubborn resistance level at 0.9400, which bulls need to breach in order to maintain the existing dominance.

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GBP/USD: The GBP/USD pair fell by 200 pips last week, threatening the recent bullish outlook on the market. The bullish outlook would be valid as long as the accumulation territory at 1.5650 is not broken to the downside. Once the accumulation territory is breached to the downside, the outlook would become bearish. This would also affect other GBP pairs.

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USD/JPY: The pair is moving sideways. That is likely to go on for a few weeks. There is a bound to make a break above the supply level at 124.50 or below the demand level at 122.50. On the USD/JPY pair, there would be a great directional movement in July 2015 (and most probable in direction of bears).

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EUR/JPY: The EUR/JPY pair is moving in a bearish trend. Since the bearish signal has been formed, the market is moving sideways. However, there could be a significant movement today or next week. The fundamental events in the Eurozone could have a serious impact on the market; plus the situation around the euro would determin further derection on this cross.

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