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447

Daily analysis of major pairs for November 6, 2017

Last week the EUR/JPY rallied in the context of a downtrend, moving from the demand zone at 131.50 to test the supply zone at 133.00 and then coming downwards on Friday. Price closed at 132.40 (below the supply zone at 132.50). Owing to a bearish outlook on EUR pairs this week, the market is supposed to go further southwards.

EUR/USD: This pair moved sideways from Monday to Thursday and then went further downwards on Friday, while the dominant bias remains bearish. This week, the support lines at 1.1600 (which has almost been tested), 1.1550 and 1.1500 would be tested this week, owing to a strong bearish bias on EUR pairs for the week.

USD/CHF: The USD/CHF did not move seriously last week, but it was able to maintain its bullishness. Price managed to close above the psychological area at 1.0000 on Friday, poised to move higher from there. The targets for this week are located at the resistance levels of 1.0050, 1.0100 and 1.0150. The resistance level at 1.0150 would require a very strong buying pressure to be breached to the upside.

GBP/USD: This currency trading instrument went upwards from Monday to Wednesday last week, testing the distribution territory at 1.3300. More bullish journey was rejected at that distribution territory as price plummeted from there, losing 250 pips, and testing the accumulation territory at 1.3050. The outlook on GBP pairs is bearish for this week, and so, more southwards movement is expected. A weak EURUSD would also help drag the GBP/USD further downwards.

USD/JPY: This market went downwards on October 30, went upwards on October 31, and consolidated for the rest of the week. This week, it is more likely for price to go higher than to go lower; first because the outlook on USD pairs is bullish for this week, and also because of an existing Bullish Confirmation Pattern in the market. The supply levels at 114.50 and 115.00 would, at least, be reached.

EUR/JPY: Last week the EUR/JPY rallied in the context of a downtrend, moving from the demand zone at 131.50 to test the supply zone at 133.00 and then coming downwards on Friday. Price closed at 132.40 (below the supply zone at 132.50). Owing to a bearish outlook on EUR pairs this week, the market is supposed to go further southwards.

Source: www.instaforex.com

448

Daily analysis of major pairs for November 7, 2017

A bullish signal has been generated on the USD/JPY pairs. Price is currently making bullish effort; and having gone above the demand level at 114.00, it is targeting the supply level at 114.500. Another target for the week is the supply level at 115.00.

EUR/USD: The EUR/USD is moving downwards gradually, while the overall bias on the market is bearish. Price is now below the resistance line at 1.1600, going towards the support line at 1.1550. USD is supposed to be strong this week, and that is what would put some bearish pressure on the EUR/USD pair.

USD/CHF: The USD/CHF did not move seriously on Monday, but it was able to maintain its bullishness. The targets for this week are located at the resistance levels of 1.0050, 1.0100 and 1.0150. The resistance level at 1.0150 would require a very strong buying pressure to be breached to the upside.

GBP/USD: The Cable is a kind of maniacal market right now, with large upswings and downswings. The short-term bias on the market is neither clearly bearish nor clearly bullish. A directional bias is expected to form soon, after price goes perpetually in one direction. Until then, one would do well to stay out of the market.

USD/JPY: A bullish signal has been generated on the USD/JPY pairs. Price is currently making bullish effort; and having gone above the demand level at 114.00, it is targeting the supply level at 114.500. Another target for the week is the supply level at 115.00.

EUR/JPY: There is a Bearish Confirmation Pattern on this cross, and rallies ought to be construed as opportunities to sell short. The demand zone at 132.00 has been tested and it would be tested again (it would be breached to the downside as price goes further south). Owing to a bearish outlook on EUR pairs this week, the market is supposed to go further southwards.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

449

Daily analysis of major pairs for November 13, 2017

The USD/JPY pair is bullish in the long-term, but bearish in the short-term. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/USD: The bias on the EUR/USD is bearish, but price has been making some faint bullish effort (especially on Friday). The outlook on the market is bullish for this week (and so it is for some EUR pairs), and therefore, price may go upwards to form a Bullish Confirmation Pattern in the 4-hour chart.

USD/CHF: The USD/CHF is bullish in the long-term, but bearish in the short-term. Further bearish movement is expected this week, but it may not be significant because USD would maintain some stamina. The support levels at 0.9900, 0.9850 and 0.9800 would be tested before the end of the week.

GBP/USD: The outlook on the GBP/USD is currently neutral. A directional bias is expected this week, when price either goes above the distribution territory at 1.3300, or it goes below the accumulation territory at 1.3050 (either of these would require a strong buying or selling pressure). The most likely direction on the GBP/USD is to the upside; whereas GBP may rally against some other currencies like AUD and NZD.

USD/JPY: This pair is bullish in the long-term, but bearish in the short-term. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/JPY: This cross is neutral both in the long-term and the short-term. There is an expectation of a strong directional bias this week, which would most probably be in favor of bulls. Price may rise from the current area in the chart, to reach the supply zones at 132.50 (which was tested on Friday), 133.00 and 134.50.

Source: www.instaforex.com

450

Daily analysis of major pairs for November 14, 2017

There is a promising “buy” signal on the EUR/USD. Since the low of last week (1.1553), price has gone upwards by 120 pips; now above the support line at 1.1650. The next target is the resistance line at 1.1700, which would be reached very soon. The resistance line is supposed to be exceeded after it is tested.

EUR/USD: There is a promising “buy” signal on the EUR/USD. Since the low of last week (1.1553), price has gone upwards by 120 pips; now above the support line at 1.1650. The next target is the resistance line at 1.1700, which would be reached very soon. The resistance line is supposed to be exceeded after it is tested.

USD/CHF: The USD/CHF is bullish in the long-term, but bearish in the short-term. Price consolidated on Monday, and may rise upwards (as volatility increases), but it may not be significant because USD would maintain some stamina. The support levels at 0.9900, 0.9850 and 0.9800 would be tested before the end of the week.

GBP/USD: There has not been any vivid changes on the Cable. A directional bias is expected this week, when price either goes above the distribution territory at 1.3300, or it goes below the accumulation territory at 1.3050 (either of these would require a strong buying or selling pressure).

USD/JPY: This pair did nothing special on November 13. Price may make some attempts to go upwards this week, owing to a bullish outlook on USD. There are demand levels at 113.00 and 112.50. On the other hand, there are supply levels at 114.00 and 114.50.

EUR/JPY: There is some short-term bullishness on the EUR/JPY at the present – owing to the perceived bullish effort on EUR. There is a Bullish Confirmation Pattern in the 4-hour chart, as price promises to go further upwards (by at least, 150 pips). The next targets are the supply zones at 113.00 and 113.50.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

451

I just can’t buy EUR/USD until it looks a whole lot more bullish. But I am long EUR/JPY and USD/CHF. I would like to be long USD/JPY but it needs to break out from this 2017 range: its the equivalent of a “killing zone” for trend-followers.

452

Daily analysis of major pairs for November 20, 2017

The USD/JPY became clearly bearish last week, with further bearish movement on Friday. This has resulted in a Bearish Confirmation Pattern in the market, and the demand level at 111.50 could be tested. However, there would be a rally before the end of this week, which may threaten the bearish bias.

EUR/USD: This pair went upwards last week, gaining 200 pips and testing the resistance line at 1.1850. Price has retraced a bit, but it could go upwards again to test that resistance line (possibly breaching it to the upside). There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way.

USD/CHF: This currency trading instrument dropped this week. It tried to go upwards on Thursday, but it came down again on Friday, thus emphasizing the bearish bias on the market. This week, further bearish movements may enable price to reach the support levels at 0.9850 and 0.9800.

GBP/USD: The Cable is essentially neutral and that has been going on for about 4 weeks. For the neutrality to end, price would need to go above the distribution territory at 1.3300; or go below the accumulation territory at 1.3050. As long as price hovers between the two aforementioned boundaries, the bias on the market would remain neutral.

USD/JPY: The USD/JPY became clearly bearish last week, with further bearish movement on Friday. This has resulted in a Bearish Confirmation Pattern in the market, and the demand level at 111.50 could be tested. However, there would be a rally before the end of this week, which may threaten the bearish bias.

EUR/JPY: This cross went upwards last week, moving briefly above the supply zone at 133.50. Had price been able to stay above the supply zone, things would have remained bullish. But price moved downwards by 160 pips from the high of last week (133.87), and closed at 132.15. Further bearish movement is possible before price makes a U-turn this week.

Source: www.instaforex.com

453

Daily analysis of major pairs for November 21, 2017

In a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/USD: This pair made an invalid bearish effort last week – while the recent bullish bias remains valid. Price could be seen going upwards this week. There are support lines at 1.1700 and 1.1650, which would try to impede any bearish attempts along the way.

USD/CHF: In the last few trading days, price has been characterized by short-term upswings and downswings. Some visible bullish effort has been seen so far this week; but there would not be a bullish signal in the market, until the resistance level at 1.0000 is breached to the upside. That would not be an easy thing to achieve.

GBP/USD: A short-term bullish signal has been generated on this market. There is a Bullish Confirmation Pattern in the 4-hour chart, which is supposed to be more conspicuous as price journeys further northwards. The next targets for bulls could be the distribution territories at 1.3250 and 1.3300.

USD/JPY: In a context of a short-term downtrend, the USD/JPY bounced upwards after testing the demand level at 112.00. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply level at 113.50 is breached to the upside (which would require strong bullish pressure).

EUR/JPY: In a context of a short-term downtrend, the EUR/JPY bounced upwards after testing the demand zone at 131.50. The upwards bounce could turn out to be an opportunity to sell short at a better price, except the supply zone at 133.50 is breached to the upside (which would require strong bullish pressure).

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

454

Daily analysis of major pairs for November 27, 2017

The USD/JPY pair is bearish. Price went downwards by 100 pips last week, closing on a bearish note. There is a Bearish Confirmation Pattern in the market, and it is possible that the demand level at 111.00 would be tested again. However, a rally is expected before the end of this week.

EUR/USD: This currency trading instrument went sideways on Monday and Tuesday and then began moving upwards until the end of the week. A minimum of 210 pips have been gained, as price closed above the support line at 1.1900, going towards the resistance line at 1.1950. The resistance line would even be exceeded.

USD/CHF: The USD/CHF was forced to go downwards last week, owing to the buying pressure in the EUR/USD. Price went downwards to test the support level at 0.9800. This week, further downwards movement is possible, especially as long as the EUR/USD experiences buying pressure. Therefore, the support levels at 0.9750 and 0.9700 could be reached.

GBP/USD: The GBP/USD sent upwards gradually last week, until there is a bullish bias on the market. The market can continue going upwards, reaching the distribution territories 1.3350 and 1.3400. On the other hand, the market can begin to go downwards somewhere in December, for the outlook on GBP pair is strong bearish for that month.

USD/JPY: The USD/JPY pair is bearish. Price went downwards by 100 pips last week, closing on a bearish note. There is a Bearish Confirmation Pattern in the market, and it is possible that the demand level at 111.00 would be tested again. However, a rally is expected before the end of this week.

EUR/JPY: This cross is bullish in the short-term, but neutral in the long-term. After testing the demand zone at 131.50, the market went upwards by 170 pips, closing above the demand zone at 133.00. Since the outlook on JPY pair is bullish for this week (and owing to the stamina in EUR itself), it is expected that price would continue going upwards.

Source: www.instaforex.com

455

Daily analysis of major pairs for November 28, 2017

The USD/CHF did not do anything significant on Monday. This week, further downwards movement is possible, especially as long as the EUR/USD experiences buying pressure. Therefore, the support levels at 0.9750 and 0.9700 could be reached.

EUR/USD: After testing the resistance line at 1.1950, the EUR/USD retraced back a bit. That retracement could be seen as another opportunity to go long when things are slightly bearish, and in the context of an uptrend. Price would still go upwards towards the resistance lines at 1.1950, and most importantly, 1.2000.

USD/CHF: The USD/CHF did not do anything significant on Monday. This week, further downwards movement is possible, especially as long as the EUR/USD experiences buying pressure. Therefore, the support levels at 0.9750 and 0.9700 could be reached.

GBP/USD: There remains a bullish bias on the GBP/USD market. The market can continue going upwards, reaching the distribution territories 1.3350 and 1.3400. Price could also end up trending downwards strongly, especially when volatility breaks out, for the outlook on GBP pairs is bearish for the week and the month.

USD/JPY: The USD/JPY pair is bearish. Price went downwards by 100 pips last week, but it did not do anything noteworthy on November 27. There is a Bearish Confirmation Pattern in the market, and it is possible that the demand level at 111.00 would be tested again. However, a rally is expected before the end of this week.

EUR/JPY: The EUR/JPY cross went south yesterday – which clearly shows that the market has been experiencing a series of upswings and downswings (in the short-term). It would be prudent to stay out of the market until there is a Bullish (or Bearish) Confirmation Pattern in the market, which would be brought about by a directional movement.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

456

Daily analysis of major pairs for December 4, 2017

The persistent bullish effort on GBP/USD has already paid off, and price has gained 460 pips since November 13. There was a slight bearish correction on Friday, after which price would resume its bullish journey, targeting the distribution territories at 1.3500, 1.3550 and 1.3600.

EUR/USD: The EUR/USD met a considerable challenge last week –which threatened the recent bullishness in the market. However, bulls were able to save the bias on Thursday as they pushed price slightly higher. Further bullish movement is possible this week, for price could target the resistance lines at 1.1900, 1.1950 and 1.2000. A stubborn opposition would be met the resistance line at 1.20000.

USD/CHF: This pair made effort to rally last week, but the rally effort was rejected around the resistance level at 0.9850 (which was briefly breached to the upside, and price could not stay above it). There was a large pullback on Friday, which put more emphasis on the recent bearish bias. There cannot be a meaningful rally on the USD/CHF as long as the EUR/USD is able to showcase its strength.

GBP/USD: The persistent bullish effort on GBP/USD has already paid off, and price has gained 460 pips since November 13. There was a slight bearish correction on Friday, after which price would resume its bullish journey, targeting the distribution territories at 1.3500, 1.3550 and 1.3600.

USD/JPY: The bias on this currency trading instrument is essentially bearish. After testing the supply level at 114.50 in November, price went downwards by 330 pips. Nonetheless, there was a rally attempt last week, which would enable sellers to enter the market at great prices, provided price goes southwards from here.

EUR/JPY: This cross is choppy in the long-term and bullish in the short-term. Price went downwards on Monday and Tuesday, reaching the demand zone at 132.00 and then going upwards on Wednesday. The supply zone at 134.00 was reached before there was the ongoing bearish correction. Price should go upwards this week, reaching the supply zone at 134.00, breaching it to the upside, and putting more emphasis on the novel bullish bias.

Source: www.instaforex.com

457

Daily analysis of major pairs for December 5, 2017

The USD/CHF went downwards massively on Friday, and then opened this week with a gap-up. However, the bearish bias on the market remains valid. Unless the resistance level at 0.9900 is breached to the upside, there cannot be any threat the bearish bias. Further bearish movements are a possibility.

EUR/USD: The EUR/USD did not do anything significant yesterday; but the bullish bias is still present. Further bullish movement is possible this week, for price could target the resistance lines at 1.1900, 1.1950 and 1.2000. A stubborn opposition would be met the resistance line at 1.20000.

USD/CHF: The USD/CHF went downwards massively on Friday, and then opened this week with a gap-up. However, the bearish bias on the market remains valid. Unless the resistance level at 0.9900 is breached to the upside, there cannot be any threat the bearish bias. Further bearish movements are a possibility.

GBP/USD: The Cable has fluctuated southwards since the beginning of this week, and that is about to create a threat to the recent bullish effort in the market. A movement below the accumulation territory at 1.3300 would render the bullish effort invalid, while a movement to the upside (from here), would strengthen it.

USD/JPY: This currency trading instrument opened with a minor gap-up this week. After the supply level at 113.00 has been tested, price began to consolidate. Since the bearish outlook on the market is still valid, it is expected that price would continue going downwards, towards the demand levels at 112.50, 112.00 and 111.50.

EUR/JPY: After this cross opened early this week, there has been a slight bearish correction in a context of an uptrend. The Bullish Confirmation Pattern in the 4-hour chart remains extant – unless price goes below the demand zone at 132.50. A movement upwards from here is anticipated, which would take price towards the supply zones at 133.50 and 134.00.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

458

Daily analysis of major pairs for December 11, 2017

Throughout last week, the EUR/USD went downwards by 120 pips, thus leading to a Bearish Confirmation Pattern in the market. While the support lines at 1.1750 and 1.1700 could be tested, it is also expected that a rally will occur sometime this week, owing to a bearish run on the USD/CHF.

EUR/USD: Throughout last week, the EUR/USD went downwards by 120 pips, thus leading to a Bearish Confirmation Pattern in the market. While the support lines at 1.1750 and 1.1700 could be tested, it is also expected that a rally will occur sometime this week, owing to a bearish run on the USD/CHF.

USD/CHF: Throughout last week, the USD/CHF went upwards by 160 pips, thus leading to a Bullish Confirmation Pattern in the market. While the resistance levels at 0.9950 and 1.0000 could be tested, it is expected that the pair would end up plummeting this week, because CHF would showcase an extraordinary level of stamina. Other currencies would also drop versus CHF.

GBP/USD: The bullish bias on the GBP/USD is not currently strong, because there were some subtle bearish attacks on the market last week. For the bullish bias to become strong, price would need to overcome the distribution territory at 1.3550. A movement below the accumulation territory at 1.3250 would result in a bearish outlook.

USD/JPY: This currency trading instrument went downwards on Monday and Tuesday, and then went upwards on Thursday and Friday. There is a bullish bias on the market, and it is expected that the supply levels at 113.50 would be reached – even if there is going to be any major pullback at last.

EUR/JPY: This is a choppy, directionless market (both in the longer-term and the shorter-term), and it is prudent to stay away from the market until there is a break above the supply zone at 134.50; or until there is a break below the demand zone at 131.50. This would require a big momentum, and would happen in less than 14 days to this time.

Source: www.instaforex.com

459

Daily analysis of major pairs for December 12, 2017

The perpetual downwards movement in the Cable has resulted in a short-term bearish signal in the market. Price is under the distribution territory at 1.3350, going towards the accumulation territory at 1.3300. The next target after that would be the accumulation territory at 1.3250.

EUR/USD: The EUR/USD did nothing significant on Monday. However, there is still a Bearish Confirmation Pattern in the market. While the support lines at 1.1750 and 1.1700 could be tested, it is also expected that a rally will occur sometime this week, owing to a bearish run on the USD/CHF.

USD/CHF: This pair is still experiencing what could be called a correction in the context of an uptrend. While the resistance levels at 0.9950 and 1.0000 could be tested, it is expected that the pair would end up plummeting this week, because CHF would showcase an extraordinary level of stamina. Other currencies would also drop versus CHF.

GBP/USD: The perpetual downwards movement in the Cable has resulted in a short-term bearish signal in the market. Price is under the distribution territory at 1.3350, going towards the accumulation territory at 1.3300. The next target after that would be the accumulation territory at 1.3250.

USD/JPY: The USD/JPY merely moved sideways on December 11. There is a bullish bias on the market, and it is expected that the supply levels at 113.50 would be reached – even if there is going to be any major pullback at last.

EUR/JPY: This is a choppy, directionless market (both in the longer-term and the shorter-term), and it is prudent to stay away from the market until there is a break above the supply zone at 134.50; or until there is a break below the demand zone at 131.50. This would require a big momentum, and would happen in less than 14 days to this time. A rise in momentum is imminent.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

460

Daily analysis of major pairs for December 18, 2017

The EUR/USD made some bullish effort last week, but further rally was rejected when the resistance line at 1.1850 was tested. Since then, price has gone down by 100 pips, now almost below the support line at 1.1750. Further bearish movement is expected this week as price goes towards another support line at 1.1700.

EUR/USD: The EUR/USD made some bullish effort last week, but further rally was rejected when the resistance line at 1.1850 was tested. Since then, price has gone down by 100 pips, now almost below the support line at 1.1750. Further bearish movement is expected this week as price goes towards another support line at 1.1700.

USD/CHF: This pair is bearish in the short-term, but neutral in the long-term. The only factor that would help push the market upwards is continuous weakness in the EUR/USD. Another factor that would help is the fact that, the Greenback is expected to be strong this month, and that is already visible in some pairs.

GBP/USD: This market is consolidating at best, and there is no directional, perpetual movement at the present. Last week, the market reached the distribution territory at 1.3450 and the accumulation territory at 1.3300. Either of these boundaries would be breached this week, as price assumes a directional movement.

USD/JPY: There is a Bearish Confirmation Pattern in the short-term (on the USD/JPY). Price consolidated on Monday and Tuesday and then dropped 150 pips, to test the demand level at 112.00. There has been an upward bounce since then, but the market would come down again to test that demands level, and possibly breach it to the downside.

EUR/JPY: This currency cross is quite choppy and without any direction on the higher time horizon. This kind of directionless scenario has been going on for more than two months and it seems to just be the beginning, unless there is a 300-pip movement to the upside or to the downside, which would result in a directional bias.

Source: www.instaforex.com

461

Daily analysis of major pairs for December 19, 2017

The USD/CHF has generated a short-term “sell” signal. Price can go towards the support levels at 0.9850 and 0.9800. On the other hand, there are resistance levels at 0.9900 and 0.9950, which should serve as an impediment to any bullish attempts. There is also another great resistance level at 1.0000.

EUR/USD: This pair has no assumed any directional movement this week, as it is consolidating in the short-term. A rise in momentum is expected and it would most probably favor bears. Further bearish movement is expected this week as price goes towards another support line at 1.1700.

USD/CHF: The USD/CHF has generated a short-term “sell” signal. Price can go towards the support levels at 0.9850 and 0.9800. On the other hand, there are resistance levels at 0.9900 and 0.9950, which should serve as an impediment to any bullish attempts. There is also another great resistance level at 1.0000.

GBP/USD: This market is consolidating at best, and there is no directional, perpetual movement at the present. Last week, the market reached the distribution territory at 1.3450 and the accumulation territory at 1.3300. Either of these boundaries would be breached this week, as price assumes a directional movement.

USD/JPY: There is a Bearish Confirmation Pattern in the short-term (on the USD/JPY). The market has remained calm since the beginning of this week, and that is calm before the storm (heavy volatility). The market would come down again to test that demands level, and possibly breach it to the downside.

EUR/JPY: This currency cross is quite choppy and without any direction on the higher time horizon. This kind of directionless scenario has been going on for more than two months and it seems to just be the beginning, unless there is a 300-pip movement to the upside or to the downside, which would result in a directional bias.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

462

Daily analysis of major pairs for December 25, 2017

The USD/CHF did not make any significant movement last week, neither is it expected to make any significant movement this week (because volatility would thin out). Price is thus expected to oscillate between the resistance level at 0.9950 and support level at 0.9800 within the next several trading days. However, a breakout will occur early January.

EUR/USD: This pair went upwards last week, from the support line at 1.1750, towards the resistance line at 1.1900. That was a movement of about 150 pips. However, price began to retrace downwards from Thursday, but it has not gone low enough to jeopardize the current bullish bias.

USD/CHF: The USD/CHF did not make any significant movement last week, neither is it 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. However, a breakout will occur early January.

GBP/USD: The GBP/USD did not make any significant movement last week, neither is it expected to make any significant movement this week (because volatility would thin out). 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: This market rallied massively last week, just like its EUR/JPY counterpart. The pair gained 150 pips last week, testing the supply zone at 113.50, and then closing below it on Friday. 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 market rallied massively last week, gaining 240 pips, moving briefly above the supply level at 134.50 and then closing below it on Friday. The bullishness in the market could be sustained until the end of this year.

Source: www.instaforex.com

463

Daily analysis of major pairs for December 26, 2017

The GBP/USD did not make any significant movement last week, neither is it expected to make any significant movement this week (because volatility would thin out). 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.

EUR/USD: The market has opened with a small gap-up, and that could mean a continuation of the bullish movement, whether the small gap-up is filled or not. Price could gain about 100 pips before the end of the week, and the movement is not expected to be huge. Next month – January – would be marked with strong volatility.

USD/CHF: The USD/CHF 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. However, a breakout will occur early January.

GBP/USD: The GBP/USD did not make any significant movement last week, neither is it expected to make any significant movement this week (because volatility would thin out). 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: This currency trading instrument also is yet to make any significant movements this week. The pair gained 150 pips last week, testing the supply zone at 113.50, and then closing below it on Friday. 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: There is a Bullish Confirmation Pattern in the EUR/JPY market; plus it has opened with a small gap-up this week (which respects the existing bias). Price is expected to go northwards this week, gaining a maximum of 200 pips before the week runs out. So, the supply zones at 135.00, 136.00 and 136.50 could be reached.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

464

Daily analysis of major pairs for January 2, 2018

The USD/JPY went sideways during last Monday and Tuesday, and then began to drop on Wednesday, until the market closed on Friday. There is a Bearish Confirmation Pattern in the 4-hour chart (though the outlook on the market is neutral), which would become strong as price moves further southwards this week.

EUR/USD: The EUR/USD rose upwards last week, almost barely closing above the support line at 1.2000. Price may be able to move further upwards this week, reaching resistance lines at 1.2050 and 1.2100. However, the outlook on EUR pairs is bearish for this week, and for this month. Thus, a bearish movement can begin anytime.

USD/CHF: The USD/CHF dipped by 120 pips last week, closing below the resistance level at 0.9750. Other support levels at 0.9700 and 0.9650 could be tested this week, and they could possibly be exceeded this month because CHF itself would gain some stamina, which may allow other major pairs to go downwards versus it.

GBP/USD: This is a short-term bullish market. This pair, which was mostly moving sideways in December, managed to start a bullish movement last week. A close above the accumulation territory at 1.3500 means the sideways phase is temporarily over. The bullish bias would hold out only as long as price is able to stay above the accumulation territory at 1.3450. There would be strong movements on this pair, as well as other GBP pairs, in January, and most of the movements would be bearish.

USD/JPY: The USD/JPY went sideways during last Monday and Tuesday, and then began to drop on Wednesday, until the market closed on Friday. There is a Bearish Confirmation Pattern in the 4-hour chart (though the outlook on the market is neutral), which would become strong as price moves further southwards this week.

EUR/JPY: This cross managed to go upwards last week, testing the supply zone at 135.50 and closing below it on December 29, 2017. One factor responsible for this is the stamina in EUR itself and further gain of about 100 pips is probable this week. However, there is also risk of a large pullback because the outlook on most JPY pairs is bearish for the week.

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465

Daily analysis of major pairs for January 3, 2018

The GBP/USD went upwards by 90 pips yesterday, testing the distribution territory at 1.3600. Since last Thursday, price has gained 220 pips, leading to a Bullish Confirmation Pattern in the market. Further bullish movement is possible today, even if there would be a strong bearish correction afterwards.

EUR/USD: This pair moved flatly on Monday, having reached the resistance line at 1.2050. Price may be able to move further upwards this week, reaching resistance lines at 1.2100. However, the outlook on EUR pairs is bearish for this week, and for this month. Thus, a bearish movement can begin anytime.

USD/CHF: The USD/CHF consolidated on January 2, having moved strongly upwards last week. The support levels at 0.9700 and 0.9650 could be tested this week, and they could possibly be exceeded this month.

GBP/USD: The GBP/USD went upwards by 90 pips yesterday, testing the distribution territory at 1.3600. Since last Thursday, price has gained 220 pips, leading to a Bullish Confirmation Pattern in the market. Further bullish movement is possible today, even if there would be a strong bearish correction afterwards.

USD/JPY: The USD/JPY went further downwards yesterday and then consolidated until the end of the day. There is a Bearish Confirmation Pattern in the market, and further bearish movements are a possibility. The demand levels at 112.00 and 111.50 could be tested this week. They could even be exceeded.

EUR/JPY: There is a bullish bias on this cross – brought about by the stamina in Euro itself. It is probable that bulls would continue to push price higher towards the supply zones at 135.50 (which has previously been tested) and 136.00. This condition can be fulfilled before the much expected bearish run, that could place trade anywhere between this week or next.

Performed by Azeez Mustapha,
Analytical expert
www.instaforex.com
InstaForex Companies Group

466

Daily analysis of major pairs for January 8, 2018

The EUR/JPY went upwards to test the supply zone at 136.50. Since December 15, 2017, price has gained over 400 pips; plus it would be somewhat difficult for a lasting bearish movement to occur in the market, as long EUR has some stamina. Bulls may be able to push price towards the supply zones of 136.50, 137.00 and 137.50.

EUR/USD: The EUR/USD went essentially sideways last week – in the context of an uptrend. A breakout is expected this week, which is supposed to be in favor of bulls, for the outlook on EUR pairs is bullish for this month. Therefore, price may be able to gain about 150 pips, as it goes further northwards.

USD/CHF: This currency trading instrument experienced an equilibrium phase last week, as it consolidated in the context of a downtrend. The outlook on the market remains bearish; and so, when a breakout occurs, it would most likely be in favor of bears (going downwards by about 100 pips). The market cannot rally significantly as long as the EUR/USD is strong.

GBP/USD: This pair went upwards to test the distribution territory at 1.3600. There was a pullback after that, but that was not serious enough to override the current bullish outlook. Price may be able to go upwards to test the distribution territories at 1.3600, 1.3650 and 1.3700. However, that does not eliminate possibility of a significant pullback, which may happen any time this month.

USD/JPY: Last week, the market stopped further bearish effort as it went upwards by 110 pips, thereby generating a short-term “buy” signal. Price managed to close above the demand level at 113.00 on Friday, thus making further northwards movement a possibility. This means the supply levels at 113.50 and 114.00 could be reached this week.

EUR/JPY: The EUR/JPY went upwards to test the supply zone at 136.50. Since December 15, 2017, price has gained over 400 pips; plus it would be somewhat difficult for a lasting bearish movement to occur in the market, as long EUR has some stamina. Bulls may be able to push price towards the supply zones of 136.50, 137.00 and 137.50.

Source: www.instaforex.com