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FX.co ★ Daily analysis of major pairs for April 1, 2014

Daily analysis of major pairs for April 1, 2014

EUR/USD: This market is still bearish – irrespective of the rally going on it. However, it should be noted that the rally has put the extant bias in a serious jeopardy, and would render it useless completely in a situation in which the market goes above the resistance line at 1.3800.

Daily analysis of major pairs for April 1, 2014

USD/CHF: There is a vivid pullback in the price – a threat to the extant bullish outlook. However, it could not be deemed that the bias is over unless the price goes below the support level at 0.8800. Without this happening, it would be OK to see the current pullback as a possible opportunity to go long.

Daily analysis of major pairs for April 1, 2014

GBP/USD: In accordance with the signal that was formed last week, the GBP/USD remains bullish. There is an easy target at the distribution territory of 1.6700 (although there is a possibility that the target would even be exceeded). During the course of this, the accumulation territories at 1.6650 and 1.6600 could act as barriers to the any bearish pulls along the way.

Daily analysis of major pairs for April 1, 2014

USD/JPY: This is also a bull market which may hold out till the middle of April 2014. This is in accordance with some seasonally noticed pattern in this unique market, but it does not rule out the possibilities of occasional bearish corrections.

Daily analysis of major pairs for April 1, 2014

EUR/JPY: The EUR/JPY cross has assumed a bullish bias for this week and it can possibly reach the supply zone at 143.00. The Bullish Confirmation Pattern in the chart shows that there is a great possibility that the momentum in the market would help it to go further northwards.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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