InstaForex - Analytics

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Daily analysis of major pairs for September 3, 2015

EUR/USD: The EUR/USD pair has been moving sideways this week, but there could be a breakout today owing to some fundamental data which is due to be released. This data could have some impact on the market, sending either EUR/USD above the resistance line at 1.1350 or below the support line at 1.1150.

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USD/CHF: This pair has gone upwards by about 90 pips this week. Now, bulls are making some effort to push the price to the upside; and the price is close to the resistance level of 0.9700. With more buying pressure, the resistance level of 0.9700 could be breached to the upside as bulls push the price further northwards.

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GBP/USD: This pair is very weak now. There is a Bearish Confirmation Pattern in the chart: the EMA 11 is below the EMA 56 while the RSI period 14 is below the level of 50. We expected the GBP/USD pair to reach lower highs and lower lows in the days to come. The accumulation territory around 1.5300 has been tested, but the price is yet to stay below it.

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USD/JPY: There is less momentum in this market at present. There pair could gain momentum on the background of today's releases. There is a dependable hope of a significant upwards or downwards movement this week - though the current outlook remains bearish.

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EUR/JPY: As it was mentioned yesterday, the pair made a breakout that favored bears. Yesterday, the cross could not close below the demand zone at 135.00, and there is a lot of activity around that zone. With further stamina in the jen, there would be a movement below the demand zone.

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