FX.co ★ Daily analysis of major pairs for June 30, 2016

EUR/USD: This market is bearish – there is a Bearish Confirmation Pattern on the chart. The EMA 11 is below the EMA 56, and the Williams' % Range period 20 is pointing to the overbought region, though that could end up being an opportunity to sell short. Long trades are not yet recommended here unless the price goes upwards by about 200 pips.

USD/CHF: The USD/CHF is in a bullish mode, and it just moved sideways yesterday. The price is now above the support level at 0.9800, and bulls are still willing to push the market further upwards. Therefore, the resistance levels at 0.9850 and 0.9900 are the next targets for bulls.

GBP/USD: Against all odds, the Cable is still making some bullish attempt in the context of a major downtrend. It is possible for the Cable to continue moving upwards because certain major accumulation territories have been tested already. Some fundamental figures would be released today, and they could have an impact on the markets.

USD/JPY: This currency trading instrument merely went flat on Wednesday in the context of a downtrend. A breakout could happen before the end of this week, which would enable the price to reach the demand levels at 101.50 and 101.00 since there is a strong Bearish Confirmation Pattern on the chart.

EUR/JPY: Following the gap-down that happened at the beginning of this week, this cross has gone upwards by 230 pips. A movement of additional 300 pips to the upside would signal a bullish bias in the short term (though the long-term bias is bearish because the EMA 11 is below the EMA 56, while the RSI period 14 is below the level 50). By the time the price has moved upwards by another 300 pips, the RSI period 14 would have gone above the level 50.