InstaForex - Analytics

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    Daily analysis of major pairs for November 20, 2015

    EUR/USD: From Monday till Wednesday, the EUR/USD pair simply consolidated to the downside. But yesterday, the pair made a faint bullish effort, which is almost negligible because the dominant bias is bearish. The faint bullish effort could result in another opportunity to take advantage of the ongoing bearish bias.

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    USD/CHF: The USD/CHF pair remains a bull market because there is still a Bullish Confirmation Pattern in the chart. The EMA 11 is above the EMA 56, though the Williams' % Range period 20 is in the oversold area. That could just mean another opportunity to go long at a better price.

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    GBP/USD: There is an indication that the cable is determined to start going upwards, owing to the current price action in the market. The distribution territory at 1.5300 was temporarily breached yesterday, but the price could not close above it. That distribution territory has been battered, and it could be breached to the upside today or next week.

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    USD/JPY: This pair is still in a bullish mode, in spite of the current bearish retracement in the chart. Eventually, the price would go further upwards, testing the supply level of 123.50 and 124.00. There are demand levels of 122.50 and 122.00.

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    EUR/JPY: This currency trading instrument has been in a bearish mode for some time, though the price is in a vivid equilibrium phase. The bearish outlook is, nevertheless, valid. As long as the euro continues to be weak, this cross would not find it easy to rally significantly. Another condition for a bullish reversal is a serious weakness in the yen.

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