empty
 
 
26.02.2014 09:07 AM
Daily analysis of major pairs for February 26, 2014

EUR/USD: There is still a Bullish Confirmation Pattern in the chart. The price is trading under the resistance line at 1.3750, and above the support line at 1.3700. The EUR/USD is currently consolidating, but a breakout in the direction of the dominant bias is soon expected.

This image is no longer relevant

USD/CHF: The USD/CHF remains in the bear market in spite of the slow and tardy movement of it. The price is trading under the resistance level at 0.8900 and above the support level at 0.8850. The pair is currently consolidating, but a breakout in the direction of the dominant bias is soon expected. At least, it should test the support level at 0.8850 very soon.

This image is no longer relevant

GBP/USD: Hitherto, the GBP/USD has been able to maintain its bullish bias because it has been able to maintain its stance above the accumulation territory at 1.6600. The bullish territory cannot be violated unless the price breaches this accumulation territory to the downside. A rally is possible from here.

This image is no longer relevant

USD/JPY: This currency trading instrument has been consolidating for about 3 weeks in a row – without a protracted trend confirmation pattern in the chart. Intraday strategies are recommended here, or better, scalping strategies. However, momentum would soon return to the market.

This image is no longer relevant

EUR/JPY: Here, we would continue to watch the supply levels at 141.50 and 142.00, for they are the immediate targets when there is a breakout in the market. The overall bias is bullish and it is highly probable that the price would go upwards when a breakout does happen.

This image is no longer relevant
Summary
Urgency
Analytic
InstaForex Analyst
Start trade
Gagnez sur les variations du cours des cryptomonnaies avec InstaForex.
Téléchargez MetaTrader 4 et ouvrez votre première transaction.
  • 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