06.12.201711:09 Forex Analysis & Reviews: Daily analysis of major pairs for December 6, 2017

EUR/USD: A "sell" signal has subtly been generated on the EUR/USD pair; owing to the perpetual bearish movement that has been witnessed since the beginning of this week. The EMA 11 has almost crossed the EMA 56 to the downside and the Williams' % Range period 20 is around the oversold region. The "sell" signal would become more conspicuous as price journeys further south.

USD/CHF: The USD/CHF pair has just generated a short-term bullish signal, which would eventually lead to a Bullish Confirmation Pattern in the 4-hour chart, once the supply level at 0.9900 is breached to the upside. When the target is achieved, price could reach another supply level at 0.99950.

GBP/USD: The situation here remains unchanged. The Cable has fluctuated southwards since the beginning of this week, and that is about to create a threat to the recent bullish effort in the market. A movement below the accumulation territory at 1.3300 would render the bullish effort invalid, while a movement to the upside (from here), would strengthen it.

USD/JPY: Since the beginning of this week, after the supply level at 113.00 has been tested, the USD/JPY price has begun to consolidate. Since the bearish outlook on the market is still valid, it is expected that price would continue going downwards, towards the demand levels at 112.50, 112.00 and 111.50 (when volatility returns to the market).

EUR/JPY: Since the start of this week, the bearish correction in a context of an uptrend has been going on (on this cross). The Bullish Confirmation Pattern in the 4-hour is now under threat, and should price drop by only 100 pips from here. The signal in the market would turn bearish. The demand zone at 132.00 is a major deciding factor.