FX.co ★ Daily analysis of major pairs for September 29, 2017

EUR/USD: This pair lost 200 pips this week, went below the support line at 1.1750 and then went upwards to test the resistance line at 1.1800. The resistance line could even be breached to the upside, but as long as price does not go above the resistance line at 1.1900, the bearish bias cannot be jeopardized. Price could go southwards from here.

USD/CHF: There is a bullish bias on the USD/CHF pair. The resistance level at 0.9750 has been tested and it could be tested again. Once the resistance level is breached to the upside, other resistance levels at 0.9800 and 0.9850 could be tested.

GBP/USD: The protracted bearish correction which has been witnessed this week has resulted in a bearish signal on the GBP/USD pair. Price has gone down by 140 pips, and further downwards movement is expected as price goes towards the accumulation territories at 1.3350, 1.3300, and 1.3250 (which could be reached within the next several days).

USD/JPY: There is still some bullishness on the USD/JPY pair (as evidenced by the Bullish Confirmation Pattern in the market). The EMA 11 is above the EMA 56, and the RSI period 14 is above the level 50. As long as the Greenback is strong versus the Yen, further continual bullishness would be anticipated.

EUR/JPY: Following the bearish run that was seen at the beginning of this week, the EUR/JPY pair has moved sideways so far. The sideways movement could continue for a few more days; then it would be followed by a rise in momentum, which could push price upwards or downwards.