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    Daily analysis of major pairs for April 16, 2015

    EUR/USD: The EUR/USD is making visible attempts to go north, putting the extant bearish outlook in jeopardy. A movement above the resistance line at 1.0750 would mean the end of the extant bearish outlook and the beginning of a new bullish outlook. But before that happens, long trades are not totally sensible to the market.

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    USD/CHF: The USD/CHF pair has been moving south since yesterday, going below the resistance level at 0.9700. The support level at 0.9650 is currently being battered and there is a high possibility that it could be breached to the downside. Moreover, some fundamental figures, which would affect the USD, are expected today and they may have an impact on this market.

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    GBP/USD: In this week so far, the cable has moved upwards by at least 240 pips. Isn't that significant? Yes, it is significant enough to threaten the recent bearish bias. The recent bearish bias would be invalidated completely when the price breaches the distribution territory at 1.4900 to the upside. Though, the ultimate target for bulls might be the distribution territory at 1.5000.

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    USD/JPY: The weakness in this currency trading instrument is clear. The price is below the EMA 56 and the RSI period 14 is below the level of 50. There is a clear Bearish Confirmation Pattern in the market now, which would become particularly strong when the demand level at 119.00 is breached to the downside.

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    EUR/JPY: There is a serious battle between bulls and bears, but it cannot be said that bulls are likely to win, unless the supply level at 129.00 is breached to the upside. This is not something that would happen quickly.

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    Uitgevoerd door, Analytische expert
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