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17. Mai
2018

Daily analysis of major pairs for May 17, 2018

Geschrieben von: mustaphaazezz

Getagged in: Forex

Daily analysis of USD/CHF for May 17, 2018

 

USD/CHF

 

The USD/CHF has been consolidation for about 2 weeks – in the context of an uptrend. A movement to the upside would strengthen the bullish bias, while a movement to the downside will render it invalid. Further consolidation will enforce a neutral bias on the market. The remaining part of the week will determine what will happen.

 

A rise in volatility is expected today or tomorrow. There is a Bullish Confirmation Pattern in the 4-hour chart. Price may rise again, possibly reaching the resistance level at 1.0050 and breaching it to the upside. 

 

 

Daily analysis of USD/JPY for May 17, 2018

 

USD/JPY

This is a bullish market, and price is supposed to go further and further upwards (it has gained 150 pips so far this week), and it may reach the supply levels at 111.00 and 111.50, possibly going further than that.

 

The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. There is currently a Bullish Confirmation Pattern in the market, which has become stronger as a result of the surge in the bullish movement. For this rally to be sustained, there is a need for continuous buying pressure in the market.

 

Daily analysis of EUR/JPY for May 17, 2018

 

EUR/JPY

There are mixed signals in the market. The EMA 11 is slightly below the EMA 56, and the RSI period 14 is slightly above the level 50. It may be prudent to stay away from this market until there would be a directional movement in it. There are no many fundamental factors expected today in the market, and so, major impacts are not expected.

 

The situation on the EUR/JPY is a kind of tricky right now. Price plummeted on Monday and Tuesday and Wednesday, to test the demand zone at 129.50. After that, a rally effort was made, which made price rose by 110 pips, thereby frustrating the bears. Investors may want to wait until there is a directional movement in the market.

 

 

Performed by Azeez Mustapha,

Analytical expert

www.instaforex.com    

InstaForex Companies Group

 


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