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Daily analysis of major pairs for March 24, 2015

EUR/USD: This pair moved upwards by 150 pips on Monday, hitting the resistance line at 1.0950 before a shallow pullback. The resistance line would be overcome soon as the market targets another resistance line at 1.1000, which may also be breached easily as the market continues to be strong.

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USD/CHF: As it was expected, the USD/CHF pair continues to go further downwards, as opposed to the bullish movement in the EUR/USD pair. Now, we are watching the support levels at 0.9600 and 0.9550, which may be attained this week as long as this pair is weak.

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GBP/USD: The bullish movement on the cable is shallow compared with the EUR/USD pair. Although, there is a great threat to the recent Bearish Confirmation Pattern in the market. It is not going to be invalidated until the price crosses the distribution territories at 1.5000 and 1.5050 to the upside.

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USD/JPY: This market has continued to show more and more weakness; slowly and gradually. The demand levels at 119.50 and 119.00 may be tested soon but they may do a good job in halting further bearish development. The outlook for this pair is bullish for this week. The price could rally anytime, provided that it is still above the aforementioned demand levels. Should they breach the demand levels to the downside, the bullish expectation could be rendered illogical.

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EUR/JPY: This currency trading instrument has been able to hold onto its bullishness, owing to the recent strength in the euro. This perpetual bullishness, which has been taking place since last week, has succeeded in affecting a clean bullish outlook on the market. This may just be the beginning of a serious bullish journey.

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Uitgevoerd door, Analytische expert
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