10.07.201507:34 Forex Analysis & Reviews: Daily analysis of major pairs for July 10, 2015

EUR/USD: After testing the resistance level of 0.9500 several times, the USD/CHF pair turned out to be unable to break it to the upside. For the bullish trend to continue in the market, the resistance level must be broken to the upside. Otherwise, there is a possibility of downward reversal.

USD/CHF: After testing the resistance level at 0.9500, the USD/CHF pair was unable to break it to the upside. For the bullish trend to continue in the market, the resistance level must be broken to the upside. Otherwise, there is a possibility of downward reversal.

GBP/USD: The market is bearish – with a Bearish Confirmation Pattern in the chart. The accumulation territory at 1.5350, which was previously battered, has come under siege again. If it gets broken to the downside, the next target for bears will be the accumulation territory at 1.5300.

USD/JPY: This currency trading instrument trended seriously southward this week testing the demand level of 120.50. There has been an upward bounce of about 100 pips since the demand level was tested, but unless the supply level at 123.50 is overcome, a short-selling opportunity would be seen there.

EUR/JPY: The bias is currently bearish. The EMA 11 is below the EMA 56, and the RSI period 14 is below the level of 50. Further downward movement is expected in the market, which would take the price towards the demand zone at 133.00. However, the adamant demand zone at 133.50 should be breached first.