EUR/USD:EUR/USDhas been able to maintain its bearish bias, though the volatility in the marketis currently low. It is expected that the pair would go towards the supportline of 1.3650 again when some strong movement occurs. On a longer term basis,the price would overcome the aforementioned support line and overcome it to thedownside.
USD/CHF:USD/CHF has been able to maintain itsbullish bias, though the volatility in the market is currently low. It isexpected that the pair would go towards the resistance level of 0.9000 againwhen some strong movement occurs. On a longer term basis, the price wouldovercome the aforementioned resistance level and overcome it to the upside.
GBP/USD: There is now a kind of clear signal on theCable. The signal is bullish (the RSI period 14 is above the level 50 andthe EMA 11 is now above the EMA 56). The price is currently showing somebullish determination and it may eventually go towards the distribution territoryof 1.6400.
USD/JPY: This isalso a bullish market, there is a Bullish Confirmation Pattern in thechart. The supply level of 104.50, which was tested a few times last week,stands another chance of being tested again. With the increase in the buyingpressure, the currency instrument may even overcome this supply level.
EUR/JPY: Thiscross is in the bull market, having been moving protractedly upwards in recently. The ultimate accomplishment now is the probability of the price breachinga new high of 143.00 to the upside.
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Performed by Azeez Mustapha, Analytical expert InstaForex Group © 2007-2013 |
Daily analysis of major pairs for December 25, 2013
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