Daily analysis of major pairs for March 28, 2017

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EUR/USD: The EUR/USD opened
this week with a minor gap-up. Price went upwards in conjunction with the
extant bullish outlook, testing the resistance line at 1.0900. The next targets
for bulls are located at 1.0950 and 1.1000.

USD/CHF: The USD/CHF went
downwards yesterday. The downwards movement happened in solidarity with the
bearish bias on the market. Price went down by 80 pips, after going briefly below
the support level at 0.9850. The support level would be tested and breached
once again as price goes toward another support level at 0.9800.

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GBP/USD: On March 27, 2017, this currency trading instrument has already reached the price territories at 1.2550 and 1.2600 (which were the initial targets for the week). There is a strong Bullish Confirmation Pattern in the market, and given the bullish outlook on this instrument, as well as on other GBP pairs, the further bullish movement is possible.

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USD/JPY: Just as it was forecasted, the demand level at 110.50 was tested on Monday. The next target is the demand level at 110.00, which could be tested within the next few trading days before there is a reversal in the market. Yes, it is possible for JPY pairs to reverse and go upwards significantly before the end of the month.

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EUR/JPY: There is a clear
Bearish Confirmation Pattern on this cross, though price made a faint bullish attempt
yesterday. 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
would also be no exception.

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

Source:: Daily analysis of major pairs for March 28, 2017

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