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FX.co ★ Daily analysis of major pairs for August 13, 2014

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Forex Analysis:::2014-08-13T06:00:24

Daily analysis of major pairs for August 13, 2014

EUR/USD: This market has been bearish so far. Even the current shallow rally is another short-selling opportunity. The price may break the support line at 1.3350 to the downside again, going towards the support line at 1.3300.

Daily analysis of major pairs for August 13, 2014

USD/CHF: This currency trading instrument has been bullish so far. Even the current fleeting pullback is another opportunity to go long. The price may break the resistance level at 0.9100 to the upside, going towards another resistance level at 0.9150. When this happens, it would be a monumental victory for the bulls.

Daily analysis of major pairs for August 13, 2014

GBP/USD: This pair is still weak. The EMA 11 is below the EMA 12, but the RSI period 14 is trying to cross the level 50 to the upside. This is due to the current fleeting rally in the market, which could be another opportunity to sell short.

Daily analysis of major pairs for August 13, 2014

USD/JPY:  The buyers are flexing their muscles on the USD/JPY. Therefore, any movement above the supply level at 102.50 would mean the end of the recent bearish outlook. On the other hand, any movement below the demand level at 102.00 would mean the renewal of the bearish outlook.

Daily analysis of major pairs for August 13, 2014EUR/JPY:  Here, the Bearish Confirmation Pattern in the chart is still a valid thing, irrespective of the fact that the market is very choppy. The demand zone at 136.00 is still our rational target for this week. The demand zone was tested last week and it could be tested again.  Daily analysis of major pairs for August 13, 2014
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