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14.04.201401:05 Forex Analysis & Reviews: Daily analysis of major pairs for April 14, 2014

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 currency trading instrument closed at 1.3884 on Friday, April 11, 2014. It closed on a bullish note, which means that the price was bullish last week. This bias is also expected to continue this week. The resistance line at 1.3900 is currently under siege, but the chances that the price would breach it to the upside are very high.

Exchange Rates 14.04.2014 analysis

USD/CHF: The USD/CHF is weak and it is currently challenging the support level at 0.8750. Once the support level has been overcome, the price would go to the next target at 0.8700. The bearish outlook in the chart ensures that the selling pressure may continue as the pair weakens further.

Exchange Rates 14.04.2014 analysis

GBP/USD:  The Cable was bullish last week, though it gave up some of its gains. From the distribution territory at 1.6800, the bullish force in the market was rejected and it was corrected downwards by up to 70 pips. The price is now below the distribution territory at 1.6750, but it may challenge that territory again, break it to the upside, and end up closing above it.

Exchange Rates 14.04.2014 analysis

USD/JPY:  The USD/JPY tanked after testing the supply level at 104.00 and having dropped by over 250 pips, testing the demand level at 101.50. It seems that further dip is being halted but the price may breach the demand level to the downside.

Exchange Rates 14.04.2014 analysis

EUR/JPY: This is also a bear market, though the weakness is not as strong as that of the USD/JPY. It may be possible that the price would go upwards, but it would be sensible to think the outlook remains bearish as long as the price stays below the supply zone at 141.50.  

Exchange Rates 14.04.2014 analysis
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