Daily analysis of major pairs for September 22, 2017

EUR/USD: This market went upwards on Monday and Tuesday, to nosedive on Wednesday, and then went upwards on Thursday. These short-term swings still emphasis the recent neutrality on the market and it would be OK to wait until there will be a protractedly directional movement, which would most probably be in favor of bears.


USD/CHF: The USD/CHF pair has been making some bullish attempts this year and there is a slight bullishness in the market. The EMA 11 is above the EMA 56, and the Williams' % Range period 20 is not too far from the overbought region. While there may be temporary pauses along the way, the overall movement in the market is supposed to be bullish.


GBP/USD: The Cable has consolidated so far this week, neither going above the distribution territory at 1.3650, nor going below the accumulation territory at 1.3450. Price needs to go above or below any of the aforementioned accumulation/distribution territories so that a directional movement can occur. The most likely direction is to the upside.


USD/JPY: Just like EUR/JPY, USD/JPY is also bullish. There is a Bullish Confirmation Pattern in the chart and price could continue going upwards, reaching the supply levels at 112.50, 113.00 and 113.50 within the next few trading days. Recently, there has been a slight bearish correction, which might be a good opportunity to buy at a better price.


EUR/JPY: The EUR/JPY pair is currently a bull market. This week, price has gone upwards by 180 pips, having gained 430 pips since September 11, 2017. Further bullish movement is anticipated as price targets the supply zones at 134.50, 135.00 and 135.50.


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