FX.co ★ Daily analysis of major pairs for October 26, 2017

EUR/USD: The pair has gone upwards this week which has resulted in a bullish signal. Now it is above the support line at 1.1800, going towards the resistance line at 1.1850 (the first target), After that, another resistance line at 1.1900 would be targeted. Some fundamental figures are expected today and they may have an impact on the market.

USD/CHF: This currency trading instrument went briefly above the resistance level at 0.9900 and then dropped below it (owing to the showcase of stamina on EUR/USD). The market could continue going downwards towards the support level at 0.9850, which would be breached to the downside this week.

GBP/USD: There is essentially a bullish signal on the GBP/USD. The EMA 11 has crossed the EMA 56 to the upside and the RSI with the period 14 has crossed the 50 level to the upside as well. This is a Bullish Confirmation Pattern in the 4-hour chart, and despite the current seeming consolidation in the market, the price is expected to go upwards when volatility arises.

USD/JPY: This currency pair tested the supply level at 114.00 and then dropped lower. It is still possible for the price to go upwards from here, unless it drops below the demand level at 112.50, which would require a strong selling pressure. Should the market go upwards from here, the supply level at 114.00 would be tested again, and possibly overcome.

EUR/JPY: This pair has been bullish so far this week. Price has rallied after the bearish movement that was witnessed on Monday and now it is close to the supply zone at 134.50 (which has been tested already). The supply zone would be breached to the upside as price journeys further northwards.