13.09.201610:28 Forex Analysis & Reviews: Daily analysis of major pairs for September 13, 2016

Long-term review

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

EUR/USD: This pair did nothing significant yesterday. It is expected that the price would continue going upwards this week, therefore making the Friday pullback a good opportunity to go long at better prices. The outlook on EUR is bullish, so you might want to watch other EUR pairs (some of which has already started moving upwards).

USD/CHF: USD/CHF consolidated on Monday. The EUR/USD pair would go upwards this week, which would make USD/CHF trend downwards. The USD itself would be weak and the CHF would gather some stamina (please watch CHF pairs). This week, bears would target support levels at 0.9700 and 0.9650.

GBP/USD: The cable moved sideways on September 12, 2016 in the context of an uptrend. While the overall outlook is bearish, the near-term trend is bullish. This week, the bulls may target distribution territories at 1.3350, 1.3400, and 1.3450. As long as the price does not go below the accumulation territory at 1.3150, the near-term bullish outlook would be logical.

USD/JPY: The USD/JPY pair trended a bit lower on Monday, thus creating a short-term bearish signal in the market. The price may test demand levels at 101.50 and 100.00 this week going further southwards. The supply level at 103.00 would try to challenge bullish attempts along the way.

EUR/JPY: There is now a Bearish Confirmation Pattern in the EUR/JPY market (especially the 4-hour chart). There are demand zones at 114.00 and 113.50, which might be tested by bears. Further movement towards the south is possible today or tomorrow.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.