Daily analysis of major pairs for March 27, 2017

EUR/USD: The EUR/USD pair moved slightly upwards last week. It tested the resistance line at 1.0800 many times without being able to close above it on Friday. The price may eventually go above the resistance line at 1.0800. However, there may not be protracted bullish movement after that because there are high chances of EUR pairs getting weak this week.

USD/CHF: The USD/CHF pair moved
downwards last week, testing the support level at 0.9900 many times, without
being able to close below it on Friday. The price may eventually go below the
resistance level at 0.9900 but there may not be protracted bearish movement
after that (especially when the EUR/USD pair loses stamina). The price is already below
the great psychological level at 1.0000 and may face some challenges in going
above it, although expected weakness in CHF may help stabilize the market.

GBP/USD: Last week this
currency trading instrument went upwards reaching the distribution territory
at 1.2500. There is a lot of activity around that distribution territory which
would soon be breached to the upside, as the price goes towards the other
distribution territories at 1.2550 and 1.2600. The outlook on GBP pairs is
bullish this week and the GBP/USD pair is no exception.

USD/JPY: Last week the price dropped by 150 pips. The
USD/JPY pair has been trending downwards since March 10, 2017, having gone down more
than 430 pips since then. Now it is active around the demand level at
111.00. The other demand zones at 110.50 and 110.00 could be tested within the
next few trading days before there is reversal in the market.

EUR/JPY: There is a clear
Bearish Confirmation Pattern on this cross which moved downwards last week,
testing the demand zone at 119.50. Once the demand zone is breached to the
downside, the price would move towards another demand zones at 119.00 and 118.50.
However, the southwards movement may be far from holding out because there
could be a rally on other JPY pairs before the end of March. The EUR/JPY pair would
also be no exception.

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

Source:: Daily analysis of major pairs for March 27, 2017