Daily analysis of major pairs for September 15, 2017

EUR/USD: Unlike what its GBP/USD counterpart is doing, the EUR/USD pair is not an attractive market at the present. It would be OK to wait until price either goes above the resistance line at 1.2050; or when it goes below the support line at 1.1850 (which would require a strong buying or selling pressure).

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USD/CHF: This pair has been experiencing some correction since yesterday – after a bullish signal has been generated. As long as price does not go below the support level at 0.9500, the bullish signal cannot be invalidated. It is possible for price to journey upwards from here.

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GBP/USD: The GBP/USD pair has gained more than 460 pips this week, resulting in a huge Bullish Confirmation Pattern in the market. Price is currently above the accumulation territory at 1.3550, going towards the distribution territory at 1.3600. The distribution territory would be easily exceeded as price goes further upwards.

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USD/JPY: Since this currency trading instrument jumped upward at the beginning of this week, this pair has been caught in a perpetual bullish movement. Price has gained over 320 pips, and it is currently above the demand level at 111.00, going towards the supply level at 111.50 (which might even be exceeded).

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EUR/JPY: The EUR/JPY pair has gone upwards this week, enabling a bullish bias on the market. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. There is a huge Bullish Confirmation Pattern in the market and a further upwards movement is anticipated, which would make price break more and more supply levels.

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