empty
 
 
31.03.2015 08:27 AM
Daily analysis of major pairs for March 31, 2015

EUR/USD: The EUR/USD pair has nearly forfeited all the bullish gains it got last week. The current near-term weakness in the market has put the extant bullish bias in jeopardy. There is a good possibility that things will go completely bearish if the price goes below the support lines at 1.0750 and 1.0700.

This image is no longer relevant

USD/CHF: This currency trading instrument continues to make its efforts to go upwards with some visible results. A movement above the resistance levels at 0.9800 and 0.9850 would mean the end of the current bearish bias and the beginning of a good bullish bias.

This image is no longer relevant

GBP/USD: The cable moved only sideways throughout last week, but the price started consolidating to the downside trying the accumulation territory at 1.4800. Currently, a long trade does not look as the best thing for this market, unless the price reaches the distribution territory around 1.5050, which seems a far cry now.

This image is no longer relevant

USD/JPY: The bullish effort is paying off. The price has gone above the demand level at 120.00. Now, there is a Bullish Confirmation Pattern in the market. The next targets for bulls are located at the supply levels at 120.50 and 121.00. Those are the target for this week, because the bullish expectations are strong.

This image is no longer relevant

EUR/JPY: We would recommend to stay away from this cross until there is a vivid trending movement. The current situation on the market is a kind of dicey and one would need to wait to see where the coming momentum will take the price. Nevertheless, a movement to the upside is very likely.

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