empty
 
 
03.09.2014 02:21 AM
Daily analysis of major pairs for September 3, 2014

EUR/USD: Surprisingly, the EUR/USD pair did not go downwards like its GBP/USD counterpart. After all, when the former was trending downwards, the latter was adamant. But the bias on the EUR/USD is bearish and it may eventually yield to gravity and move towards the support line at 1.3100.

This image is no longer relevant

USD/CHF: So far this week, this market has been going upwards. It was able to breach the price level at 0.9200 before retracing downwards a little. There is a support level at 0.9150, which would act as an impediment to any further bearish retracement. Meanwhile, it is expected that the price would go further upwards, testing the resistance level at 0.9200 again.

This image is no longer relevant

GBP/USD: The Forex markets are now trending strongly. For example, the Cable has been caught in a bearish continuation movement. The price fell by roughly 140 pips yesterday, going below the distribution territory at 1.6500. The next target would be the accumulation at 1.6450.

This image is no longer relevant

USD/JPY: The Bullish Confirmation Pattern in this market is now particularly strong. The price is trading above the demand level at 105.00: it may go upwards towards the supply level at 105.50. Our target for this week has been reached, but the market has the potential to go further upwards towards the aforementioned supply level.

This image is no longer relevant

EUR/JPY: The weakness in the JPY (which is very weak right now), has caused this cross to form a ‘buy’ signal since yesterday. The price has now crossed the EMAs 56 and 11 to the upside, while the RSI period 14 has crossed the level 50 to the upside. The market has tested the supply level at 138.00, and it may breach it to the upside.

This image is no longer relevant
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback