InstaForex - Analytics

    InstaForex

    739.75 6.25/10
    62% of positive reviews
    Real

    Daily analysis of major pairs for April 1, 2016 2016-04-01

    EUR/USD: This currency trading instrument has trended upward by 250 pips, testing the resistance line at 1.4000. The price would continue moving upwards, owing to the Bullish Confirmation Pattern in the market, which could take the price further upwards by another 100 pips. The next target for the price could thus be the resistance line at 1.4100.

    1.png

    Show full picture

    USD/CHF: Normally, the USD/CHF pair went in the opposite direction of the EUR/USD pair. The former dropped by 200 pips, now threatening to test the support level at 0.9550. The EMA 11 is below the EMA 56, while the price is in the oversold region. It is assumed that the price would journey further downwards.

    2.png

    Show full picture

    GBP/USD: The Cable went upwards this week – though the price is currently consolidating. There is a Bullish Confirmation Pattern on the 4-hour chart. The EMA 11 is above the EMA 56 while the RSI period 14 is above the level 50. In spite of the present consolidation, the price would most probably go upwards when a breakout happens. A particular impediment to the bulls' interest is located at the distribution territory of 1.4450.

    3.png

    Show full picture

    USD/JPY: There is a clean Bearish Confirmation Pattern on the USD/JPY 4-hour chart. The price nearly tested the demand level at 112.00, before the current sideways movement in the market. That demand level could be broken to the downside as the price moves further south, targeting another demand level at 111.00.

    4.png

    Show full picture

    EUR/JPY: The EUR/JPY pair has gone upwards so far this week. The price has moved upwards by 150 pips and it is now above the demand zone at 128.00. The next target for bulls is at the supply zone of 129.00, which would be attained today or next week.

    5.png

    Show full picture

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree