20.09.201711:50 Forex Analysis & Reviews: Daily analysis of major pairs for September 20, 2017

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: A bullish signal has just been generated on the EUR/USD pair. Price made some bullish attempt and it is now above the support line at 1.2000, going towards the resistance line at 1.2050 (which is the first target). The second target is the resistance line at 1.2100.

USD/CHF: This pair is still consolidating. For a directional movement to start, price would either need to go below the supply line at 0.9500 (staying below it); or price would go above the resistance level at 0.9700, causing a bullish signal to be generated. A movement below the support level at 0.9500 would strengthen the overall bearish outlook.

GBP/USD: Although it has consolidated so far this week, there is still a Bullish Confirmation Pattern in the GBP/USD 4-hour chart. When a breakout does occur, it would be in favor of bulls as price is expected to go towards the distribution territories at 1.3550, 1.3600, and 1.3650, which would all be reached before the end of the week.

USD/JPY: There has been a slight bearish correction on this currency trading instrument, and that could be the beginning of the expected bearishness in the market (which could happen before the end of this week). The EMA 11 is above the EMA 56 and the RSI period remains above the level 50. This situation would change once price nosedives by 200 pips, swiftly or little by little.

EUR/JPY: This currency trading instrument went upwards by another 160 pips this week, and further upwards movement is possible. However, price is expected to be corrected soon downwards before the end of the week; something that would be somewhat difficult to achieve as long EUR has some stamina in it.

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.