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    Daily analysis of major pairs for April 29, 2015

    EUR/USD: The EUR/USD pair has continued its upward journey moving further up by 110 pips on Tuesday. The bullish signal still has much room to run, and the resistance lines at 1.1000 and 1.1050 are the next targets. The euro is unlikely to lose its stamina in case it happens .

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    USD/CHF: This currency trading instrument remained volatile. The support level at 0.9500 has been tested several times recently and it may be tested again. The strong selling pressure is needed at this support level for a breach to the downside.

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    GBP/USD: The cable has been able to maintain its recent bullish bias until now. The price has moved upwards by 740 pips from the accumulation territory at 1.4600 closing above the accumulation territory at 1.5300. The next target for the bulls is at the distribution territories around 1.5350 and 1.5400, which may be attained today or tomorrow.

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    USD/JPY: This is the market where upswings and downswings are short-term in nature. However, a closer look reveals that bears have the upper hands at the moment and as a result of this, we might see a continuation of selling pressure.While bears may succeed in bringing the price to the demand level at 118.50, stronger weakness in the market would be required to breach that demand level to the downside.

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    EUR/JPY: This is the bullish market: the price is above the EMA 11, which is above the EMA 56. The RSI period 14 is above the level of 50. All this points to a Bullish Confirmation Pattern and courtesy of the strength in the euro, the price may eventually reach the supply zone at 131.50.

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    Uitgevoerd door, Analytische expert
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