Daily analysis of major pairs for June 29, 2017

EUR/USD: The EUR is the real market leader at present, and the strength in it has influenced most EUR pairs positively. The EUR/USD has skyrocketed and this seems to be the beginning. There is a possibility that price may gain additional 200 pips before the end of this week, as it is going further northwards.

1498739392_1.png

USD/CHF: As it is often mentioned, whatever happens to EUR/USD will have an opposite effect on USD/CHF. The market has dropped precipitously as a result of the rise of EUR/USD. Further southwards movement is anticipated today and tomorrow. Some fundamental figures are expected today and they could have impact on the market.

2.png

GBP/USD: Just as it was anticipated, the Cable has gone vividly upwards, gaining about 250 pips this week, and forming a Bullish Confirmation Pattern in the market. Price is currently above the accumulation territory at 1.2950, going towards the distribution territory at 1.3000, which is the ultimate target for this week.

3.png

USD/JPY: Unlike certain JPY pairs which have gone significantly upwards, this pair is simply in a bullish bias, but there is nothing significant about it. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. As other JPY pairs (like the GBP/JPY, the CHF/JPY, etc.) remain significantly bullish, USD/JPY also may be forced to rally conspicuously.

4.png

EUR/JPY: As it was forecast, the EUR/JPY pair has gone seriously northwards, gaining about 350 pips this week, and forming a Bullish Confirmation Pattern in the market. The market is currently testing the supply zone at 128.00, and it is almost breaching it to the upside, after which the supply zone at 128.50 would be targeted.

5.png

The material has been provided by InstaForex Company - www.instaforex.com