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FX.co ★ Daily analysis of major pairs for January 9, 2014

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Forex Analysis:::2014-01-09T09:43:42

Daily analysis of major pairs for January 9, 2014

EUR/USD: In this market, the current surge (upturn) in the price simply means that it is rising amid a downtrend. The downtrend is still a valid thing, and the price is not expected to go above the resistance line of 1.3650. The price may fall further from there or before reaching there.

Daily analysis of major pairs for January 9, 2014

USD/CHF: В In this market, the current weakness (downturn) in the price simply means that it is falling as it is an uptrend. The uptrend is still a valid thing, and the price is not expected to go below the support level of 0.9050. The price may rise further from there or before reaching there.

Daily analysis of major pairs for January 9, 2014

GBP/USD: В Right now, it looks like the event on the Cable is determined largely by what is happening to the USD. The market has already aligned itself in favor of the bulls. The EMA 11 is above the EMA 56 and the RSI period 14 is above the level 50. The price itself may reach the distribution territory at 1.6500. The fundamental figures coming out today would have impact on the markets, especially the currency trading instruments that have the USD as its base or counter currency.

Daily analysis of major pairs for January 9, 2014

USD/JPY: In USD/JPY, the price level of 105.00 is currently under siege. The determined bulls have been battering that level, and it may eventually be overcome. The bullish pressure is strong. After the price breaks that level to the upside, it would continue towards another supply level of 105.50.

Daily analysis of major pairs for January 9, 2014	EUR/JPY:В  EUR/JPY is in an uptrend, because the bearish indication that came into being last week is being rendered invalid. Nevertheless, one would need to wait for a Bullish Confirmation Pattern to be formed again before one takes sides with the bulls.В В Daily analysis of major pairs for January 9, 2014
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