09.04.201513:23 Forex Analysis & Reviews: Daily analysis of major pairs for April 9, 2015

EUR/USD: The weakness in the EUR/USD pair is clear now. The price has gone below the resistance line at 1.0800, going towards the support line at 1.0700. This is the first target for sellers. The second target for sellers is at the support line at 1.0650, which may be attained today or tomorrow.

USD/CHF:There is a bullish signal for USD/CHF now, which is likely to make the price go towards the resistance levels at 0.9750 and 0.9800. There are also support levels at 0.9650 and 0.9600, which would pose some challenge to any attempted pullbacks along the way. Some fundamental figures are still expected and they will have some impact on the markets.

GBP/USD: the cable looks dicey. It would be OK to stay away from this market until the price crosses above the distribution territory at 1.4950, leading to a clean Bullish Confirmation Pattern, or until the price crosses below the accumulation territory at 1.4750, leading to a clean Bearish Confirmation Pattern. It should be noted that the price must close above the distribution territory or below the accumulation territory before the bias can be confirmed.

USD/JPY: we can observe a struggle between bull and bear – just in the context of the uptrend. It can be said that the present bias is bullish; the only thing that can make it turn bearish is an event in which the price closes below the demand level at 119.00, which is a huge barrier to the bear's interest.

EUR/JPY: This market became bearish. The EMA 11 is already below the EMA 56, while the price is below both of the EMAs. The RSI period 14 is below the level of 50. This is Bearish Confirmation Pattern (owing to the weakness in the Euro itself). The price is likely to reach the demand zones at 129.00 and 128.50.