FX.co ★ Daily analysis of major pairs for March 26, 2015

EUR/USD: This market is consolidating in the context of an uptrend, though it is assumed that it would resume its northward journey when the consolidation pans out. The resistance line at 1.1050 is the next target for bulls.

USD/CHF: This pair is consolidating in the context of a downtrend, though it is assumed that it would resume its southward journey when the consolidation pans out. The support level at 0.9500 is the next target for bears. Moreover, some fundamental figures are coming out today and they may have impact on the market.

GBP/USD: The сable is currently in an equilibrium phase, especially since the beginning of this week. The market has not moved significantly in a directional manner: as it oscillates between the distribution territory at 1.5000 and accumulation territory at 1.4800. There ought to be a break above the aforementioned accumulation territory or below the distribution territory, so that a vivid direction can be observed.

USD/JPY: Owing to the weakness in USD, this currency trading instrument has a bearish bias towards it. The market may journey further southwards, as bulls remain helpless in halting the situation. The only thing that can change the outlook is the event that causes the trading instrument to close above the supply level at 121.00.

EUR/JPY: Although this market is now moving sideways in an uptrend, it would soon break out further to the upside, continuing its bullish journey. Why? The EMA 11 above the EMA 12 and the RSI period 14 is above the level of 50. So, coupled with the price action, the bullish expectation is rational.