Daily analysis of major pairs for December 27, 2017

EUR/USD: The EUR/USD pair has been able to maintain its bullishness so far. Bulls are still intent on pushing price higher, and thus, the resistance lines at 1.1900 and 1.1950 could be reached this week. A strong movement that could take price beyond the resistance line at 1.1950 may not be possible this week.


USD/CHF: The USD/CHF pair is yet to make any meaningful movement this week. The market is not expected to make any significant movement this week (because volatility would thin out). Price is thus expected to oscillate between the resistance levels at 0.9950 and support level at 0.9800 within the next several trading days.


GBP/USD: This pair has not made any changes to the neutral bias on it. Price is thus expected to oscillate between the accumulation territory at 1.3250 and the distribution territory at 1.3500 within the next several trading days. However, a breakout will occur early January.


USD/JPY: There is a slight (negligible) downwards propensity in the market, which is not strong enough to override the current short-term bullish bias on the market. The bullishness in the market could be sustained until the end of this year (although it is unlikely that a strong movement would be witnessed).


EUR/JPY: This pair is currently testing the supply zone at 134.50, and it may eventually breach it to the upside, for the most probable direction in the market is upwards. The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. There is Bullish Confirmation Pattern in the market remain intact.


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