empty
 
 
30.03.2015 01:27 AM
Daily analysis of major pairs for March 30, 2015

EUR/USD: On Friday, March 27, 2015, this pair closed at 1.0887 on a slight bullish note. The bias is still bullish while there are support lines at 1.0750 and 1.0700. Moreover, there are resistance lines at 1.1000 and 1.1050. There must be a break above the resistance lines or below the support lines for the trend to continue in favor or against bulls.

This image is no longer relevant

USD/CHF: In spite of some visible effort of bulls to push the price upwards, the market is still bearish. The only thing that can render bearish outlook useless is an event that causes the price to go above the resistance level at 0.9800 first, and then 0.9850 later. If the current weakness in USD continue, the price could retest the support line at 0.9500, which was tried last week.

This image is no longer relevant

GBP/USD: The cable moved only sideways throughout last week, with neither bulls nor bears gaining the upper hand. As long as bulls and bears have equal stamina, the sideways movement can continue until a rise in momentum, which could cause an imbalance on the market. The imbalance is likely to favor bulls.

This image is no longer relevant

USD/JPY: This is a weak currency trading instrument. There is a clean Bearish Confirmation Pattern on the market and the demand level at 118.50 could be tested. On the other hand, some weakness in the yen is expected this week or next week, which may cause this instrument to rally eventually.

This image is no longer relevant

EUR/JPY: The situation on this cross is dicey and one needs to wait to know the next price action before taking a position. The bullish gain that was realized last week has nearly been forfeited, but a possible rally might cause the recent bullish outlook to become more significant.

This image is no longer relevant

Summary
Urgency
Analytic
InstaForex Analyst
Start trade
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 $6000 more!
    In December we raffle $6000 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
  • 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