InstaForex - Analytics

    InstaForex

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    Daily analysis of major pairs for July 15, 2015

    EUR/USD: the EUR/USD pair is moving in a very dicey way now, though the outlook is bearish. For the outlook to continue to be logical, the price needs to get to the support line at 1.0950; otherwise there is a possibility of a rally.

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    USD/CHF: This pair still finds it difficult to breach the resistance level at 0.9500 to the upside, though the overall bias remains bullish. A failure to breach the resistance level at 0.9500 to the upside, or better, the failure of the price to close above that resistance level would result in a massive sell-off.

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    GBP/USD: The northward movement that happened here on Tuesday has led to a Bullish Confirmation Pattern in the market. The EMA 11 is now above the EMA 56 and the RSI period 14 is above the level of 50. The price may keep on going north, reaching the distribution territory of 1.5700.

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    USD/JPY: The 'buy' signal for the USD/JPY pair is still valid, though the price finds it difficult to breach the supply level at 123.50 to the upside. In case the supply level is breached, the next target may be the supply level at 124.00. Should this fail to happen, there is a possibility of a bearish correction.

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    EUR/JPY: Would the price go upwards or downwards? Only time would tell. It would be great to stay away from the cross until a clear directional bias is confirmed.

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