Instaforex Trading Forecasts

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Daily analysis of major pairs for June 5, 2018

Daily analysis of USD/CHF for June 5, 2018

USD/CHF
The bias on the market has remained unchanged (bearish), and the market did virtually nothing on Monday. USDCHF has been moving downwards in the past few weeks; which was an unusual thing, considering the fact that it usually goes in a negative correlation with EURUSD.

However, the situation will change this week, as USD is expected to begin gathering stamina at some point (before the end of the week). This would aid a strong bullish reversal in USDCHF and put more bearish pressure on EURUSD. The bearish outlook on the USD/CHF is supposed to hold on for some time, until USD would be able to gather energy.

Daily analysis of USD/JPY for June 5, 2018

USD/JPY
The market attempted to resume its bullish journey on June 4. Since testing the demand level at 108.50, price has bounced upwards by 150 pips, and it is close to the supply level at 110.00. The short-term bearishness is still in place and it is supposed to override the long-term bullish bias on the market.

The long-term bullishness would soon be rendered invalid. This is because there is a very strong bearish outlook on JPY pairs this month, and so, USDJPY would eventually become like other JPY pairs, which are already bearish. A continuation of the rally in the market would render this invalid.

Daily analysis of EUR/JPY for June 5, 2018

EUR/JPY
This cross was able to continue its bullish journey yesterday – though that was a slight movement. Price is now close to the supply level at 126.50 (and it has tested it). It may even breach it to the upside, but there would be an eventually reversal, to go along with the bearish outlook on the market.

This week, a bearish reversal is expected, because of the weakness in EUR and owing to the bearish outlook on JPY pairs. The bearish reversal would enable sellers to enter short at some sensible prices (only if it occurs)

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

508

Daily analysis of major pairs for June 11, 2018

Daily analysis of USD/CHF for June 11, 2018

USD/CHF
This is a weak market, for the USD/CHF has been caught in a slow and gradual bearish movement since May 10 (over 230 pips). It is possible that the market would continue going further downwards (albeit slowly), especially when EURUSD gains a lot of stamina. This is because the EUR/USD and the USD/CHF are negatively correlated.

There is a Bearish Confirmation Pattern in the market. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.

Daily analysis of USD/JPY for June 11, 2018

USD/JPY
The USD/JPY is bullish in the long-term, but neutral in the short-term. In the last two weeks, price has generally oscillated between the demand level at 108.50 and the supply level at 110.50. As long as price continues to oscillate between those demand and supply levels, the short-term bias would be neutral.

Mixed signals will be witnessed on certain JPY pairs this week (and thus the USD/JPY). A break above the supply level at 110.50 will result in confirmation of the existing long-term bullish outlook while a break below the demand level at 108.50 will result in a clean bearish outlook.

Daily analysis of EUR/JPY for June 11, 2018

EUR/JPY
The bias on this currency trading instrument has just turned bullish. Since May 30, price has rallied by 500 pips, reaching the supply zone at 130.00, before the current bearish correction (which happened on June 8). A sideways movement throughout this week will bring about a neutral bias on the market.

A test of the demand zone at 127.50 will threaten the new bullish bias on the market; while a movement towards the supply zones at 129.50, 130.00 and 130.50 will strengthen it. There will be a measure of volatility in the market this week.

Source: www.instaforex.com

509

Daily analysis of major pairs for June 12, 2018

Daily analysis of USD/CHF for June 12, 2018

USD/CHF
The USD/CHF did nothing significant on Monday – except consolidating. In the long-term, the market has been caught in a slow and gradual downwards movement, and it is a situation in which short-term rallies often lead to further downwards movement. The outlook on USD/CHF is bearish for the week, especially when the EUR/USD gathers some stamina.

The EMA 11 is below the EMA 56, and the Williams’ % Range period 20 is showing some form of neutrality. There is a Bearish Confirmation Pattern in the market. The support levels at 0.9800 (which has previously been tested), 0.9750 and 0.9700, would be reached soon, and that might bring about a strong Bearish Confirmation Pattern in the market.

Daily analysis of USD/JPY for June 12, 2018

USD/JPY
The market tried to move upwards a little on June 11. The USD/JPY is bullish in the long-term, but neutral in the short-term. In the last two weeks, price has generally oscillated between the demand level at 108.50 and the supply level at 110.50. However, a smooth bullish movement would bring about a bullish outlook on the market.

The EMA 11 has crossed above the EMA 56, and the RSI period 14 has crossed the level 50 to the upside. Should price continue to move further upwards, the bias on the market would become clearly bullish (leading to a Bullish Confirmation Pattern in the past).

Daily analysis of EUR/JPY for June 12, 2018

EUR/JPY

What happened yesterday shows that bulls are still willing to push the price upwards. The EMA 11 has crossed above the EMA 56, and the RSI period 14 has crossed the level 50 to the upside. Should price continue to move further upwards, it would lead to an emphasis on the recent Bullish Confirmation Pattern in the market.

There will be some form of strong volatility on the EUR/JPY this week. A test of the demand zone at 127.50 will threaten the new bullish bias on the market; while a movement towards the supply zones at 130.00, 130.50 and 131.00 will strengthen it.

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