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    Daily analysis of major pairs for February 18, 2015

    EUR/USD: This pair has kept on making its bullish attempt (an event that is marred with determined machination from bears). In any case, the possibility of the price going further upwards is higher than the possibility of the price going downwards.

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    USD/CHF: The USD/CHF pair has been in a bullish trend for the near term. The upward movement has been slow and steady while the price remains volatile as a result of frequent challenges from bears. The possibility of large or shallow pullbacks is now high, which may occur this week or next week.

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    GBP/USD: The fact that this market has gone down so far this week does not make the recent bullish outlook on it an invalid thing. The EMA 11 is above the EMA 12 and the RSI period 14 is almost above the level 50. Unless the price breaches the accumulation territory at 1.5250 to the downside, it is rational to expect that the market may go up.

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    USD/JPY: Like most other JPY pairs, this currency trading instrument has also broken upwards, resulting in a Bullish Confirmation Pattern on the chart. This has led to a renewal of the recent bullish bias and the supply levels at 119.50 and 120.00 could be attained again.

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    EUR/JPY: The EUR/JPY pair has assumed another lease of a bullish bias as expected. The price rose from the demand zone at 134.00, closing above the demand zone at 136.00. This is an upward movement of 200 pips and the price could reach a supply zone at 137.00. It is now illogical to seek short trades here.

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    Uitgevoerd door, Analytische expert
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