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10. Mai

Daily analysis of major pairs for May 10, 2018

Geschrieben von: mustaphaazezz

Getagged in: Forex , Basics

Daily analysis of USD/CHF for May 10, 2018




The situation on the market remains unchanged. The USD/CHF has been consolidating between the support level at 1.0000 (a great psychological level) and the resistance level at 1.0050. The consolidation has been going on for a few days but there would soon be a breakout in the market, which would most probably favor bulls. The outlook on the market continues to be bright.


The EMA 11 is above the EMA 56, and the Williams’ % Range period 20 is in the overbought region. There is a Bullish Confirmation Pattern in the market, which makes short trades illogical at the moment.



Daily analysis of USD/JPY for May 10, 2018



Arise in the bullish momentum was witnessed. This has given credence to the recent bullishness in the market, which gives credence to the recent bullish bias on the market. The supply level at 110.00 has already been tested and it would be breached to the upside, as another supply level at 110.50 is targeted.


Some fundamental figures are expected today and they will have impact on the market. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. There is a Bullish Confirmation Pattern in the market.


Daily analysis of EUR/JPY for May 10, 2018



The bullish effort that is already in place has continued – in the context of a downtrend. This still pales into insignificance when compared to the overall bearish bias, and it should ultimately give good short-selling opportunities. There is a huge Bearish Confirmation Pattern in the market, and price is expected to continue going southwards.



The EMA 11 is below the EMA 56, and the RSI period 14 is below the level 50 (not yet above it). The market is below the supply zone 130.50, and moving towards anther supply zone at 131.00. The targeted demand zone would be breached to the downside today or tomorrow. The bears are still on control.



Performed by Azeez Mustapha,

Analytical expert    

InstaForex Companies Group

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