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

EUR/USD: There is a bearish signal on EUR/USD, which has come into place since last Friday. Bears might be able to target the support lines at 1.1150, 1.1100 and 1.1050 this week. In this market, any short-term rallies that occur should be taken as opportunities to go short.

USD/CHF: There is a bullish signal on USD/CHF, which has come into place since last Friday. Bulls might be able to target the resistance levels at 0.9800, 0.9850 and 0.9900 this week. In this market, any bearish retracements that occur should be taken as opportunities to go long.

GBP/USD: Price has gone down since last week, posing a threat to the recent bullish outlook in the market. A movement below the accumulation territory at 1.2950 would result in a Bearish Confirmation Pattern in the market, while a movement above the distribution territory at 1.3300 would strengthen the recent bullish bias.

USD/JPY: This pair has been making bullish attempts since August 26, 2016; an action that has resulted in a "buy" signal in the near term. While the major bias on daily and weekly charts is bearish, there is a possibility that price might test the supply levels at 102.50, 103.50 and 104.00; even if there is going to be a pullback following that.

EUR/JPY: This cross has been making bullish attempts since the last day of last week; an action that has resulted in a "buy" signal in the near term. While the major bias on daily and weekly charts is bearish, there is a possibility that price might test the supply zones at 115.0, 115.50 and 116.00; even if there is going to be a pullback following that.