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FX.co ★ Daily analysis of major pairs for July 11, 2017

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Forex Analysis:::2017-07-11T05:56:14

Daily analysis of major pairs for July 11, 2017

EUR/USD: The EUR/USD did nothing significant. The outlook on the EUR/USD is bullish for this week, and further bullish movement may help price attain additional resistance lines at 1.1450, 1.1500 and 1.1550.

Daily analysis of major pairs for July 11, 2017

USD/CHF: The constant bullish effort on the USD/CHF has, at last, resulted in a "buy" signal in the market. There is now a strong bullish indication as price goes above the support level of 0.9650, going towards the resistance level at 0.9700 (having gained about 40 pips on Monday). Any show of weakness on the EUR/USD would send the USD/CHF skywards.

Daily analysis of major pairs for July 11, 2017

GBP/USD: The GBP/USD is bearish in the shorter-term, and the increasing short-term weakness has already resulted in a "buy" signal in the market. Price is below the distribution territory at 1.2900, going towards the accumulation territory at 1.2850. This accumulation territory could be temporarily exceeded before there is a reversal.

Daily analysis of major pairs for July 11, 2017

USD/JPY: Since June 14, a gain of over 500 pips has been made. This currency trading instrument has gone further upwards this recently, going above the demand level at 114.00 and going towards the supply level at 114.50 (the initial target). Another target after this is the supply level at 115.00.

Daily analysis of major pairs for July 11, 2017

EUR/JPY: The EUR/JPY is in a bullish mode, though nothing significant happened on Monday. The market is supposed to move upwards strongly this week, just as it has done in the past few weeks. The supply zones at 130.50, 140.00 and 140.50 could be reached after some volatility returns to the market.

Daily analysis of major pairs for July 11, 2017

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