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12. Jan
2018

Daily analysis of major pairs for January 12, 2018

Geschrieben von: mustaphaazezz

Getagged in: Forex , Basics

 

The USD/JPY continued to drop relentlessly yesterday. Since the beginning of this week, price has gone down by 215 pips, and now close to the demand level at 111.00. The demand level would soon be breached to the downside as price goes further southwards. Bears are the winners this week.

 

EUR/USD:  On Thursday, the northwards surge that came about in the market has helped restore the recent bullishness in the market. There is a Bullish Confirmation Pattern in the market, and further bullish movement is possible, which would take price towards the resistance lines at 1.2100 and 1.2050.

 

 

USD/CHF: On January 11, the southwards surge that came about in the market has helped restore the recent bearishness in the market. There is a Bearish Confirmation Pattern in the 4-hour chart (the EMA 11 is below the EMA 56, while the William’s % Range period 20 is in the oversold region), and further bearish movement is possible, which would take price towards the support level 0.9700.

 

GBP/USD:  This currency trading instrument has only gone flat so far this week. It is better to stay away from the market until there is a breakout in the market – for volatility is expected to rise within the next several trading days.

 

USD/JPY: The USD/JPY continued to drop relentlessly yesterday. Since the beginning of this week, price has gone down by 215 pips, and now close to the demand level at 111.00. The demand level would soon be breached to the downside as price goes further southwards. Bears are the winners this week.

 

EUR/JPY:  The cross experienced what can be rightly called a rally in the context of a downtrend (owing to some form of stamina in Euro). However, the rally would prove to be a nice opportunity to sell at slightly higher price, while the market is expected to continue going lower and lower.

 

Performed by Azeez Mustapha,

Analytical expert

www.instaforex.com    

InstaForex Companies Group

 

Traders’ Mindset: http://www.advfnbooks.com/books/insights/index.html  

 

               


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