empty
 
 
19.01.2018 01:07 AM
Daily analysis of major pairs for January 19, 2018

EUR/USD: This pair has consolidated so far this week, and it is possible that it would remain as such until the end of this week. A movement to the upside or to the downside is possible, but the price would need to break the resistance line at 1.2200 or the support line at 1.2150. The overall direction, is, however, bearish.

This image is no longer relevant

USD/CHF: The USD/CHF is moving gradually lower, in the context of a downtrend. Price is now under the supply level at 0.9600, going towards the demand level at 0.9550. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 has just sauntered into the oversold region.

This image is no longer relevant

GBP/USD: There is a strong bullish movement on the GBP/USD. Since last week Thursday, the market has gained about 390 pips, and that seems to be just a start, for bulls are intent on pushing the price further northwards. The next targets are the distribution territories at 1.3950 and, ultimately, 1.4000.

This image is no longer relevant

USD/JPY: In the short-term term, this trading instrument is choppy, but the bias on the market is bearish overall. The demand levels at 110.50 and 110.00 could still be tested before the end of this week. Should the selling pressure on the market increase, the aforementioned targets could even be exceeded.

This image is no longer relevant

EUR/JPY: This market has been rough and choppy this week, but the price keeps trudging upwards. Since there is a Bullish Confirmation Pattern in the 4-hour chart, the market may be able to reach the supply zones at 136.50 and 137.00 before the end today, or early next week.

This image is no longer relevant

Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback