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    Daily analysis of major pairs for May 8, 2015

    EUR/USD: This is a bullish market, though the present price action is a threat to the bullish scenario. As long as the price stays above the support line at 1.1050, the bullish outlook is likely to be rational. Thus, dips on the market could be amounted to opportunities to buy long.


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    USD/CHF: This week, this currency trading instrument went down by 200 pips and moved upwards by 150 pips. The outlook remains bearish and as long as EUR/USD is strong, this instrument would be weak. This present rally should be considered as an opportunity to sell short at a better price.


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    GBP/USD: The GBP/USD pair rallied massively yesterday, including most GBP pairs. From the accumulation territory around 1.5250, the price moved upwards, testing the distribution territory at 1.5500. This is a movement of 300 pips. From the distribution territory at 1.5500, the price has been corrected lower, but the overall bias remains bullish. While the distribution territory may be tested again, any movement below the accumulation territory at 1.5150 would cause a threat to the extant bullish bias.


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    USD/JPY: the signal that is on this pair is a buy" signal. The price is above the EMA 56 and the RSI period 14 is above the level of 50. There is a probability of further northward attempts.


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    EUR/JPY: This is also a bulishl market and the cross should be strong as long as the euro is strong. The Bullish Confirmation Pattern in the market would be valid as long as the price is unable to break the demand zones at 133.00 and 132.50 to the downside.


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    Uitgevoerd door, Analytische expert
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