Daily analysis of major pairs for September 12, 2017

The GBP/USD has gone further upwards this week, as price stays around the distribution territories at 1.3250 and 1.3300. There is a huge Bearish Confirmation Pattern in the market, which means price would continue going upwards, gaining another 150 – 200 pips this week.

EUR/USD: The EUR/USD has trended lower at the beginning of this week – thus creating a threat to the extant bullish bias on the market. A movement below the support line at 1.1850 would result in a bearish bias, while a movement above the resistance line at 1.2050 would help strengthen it. This is the expectation for today and tomorrow.

USD/CHF: The USD/CHF has trended higher at the beginning of this week – thus creating a threat to the extant bearish bias on the market. A movement above the resistance level at 0.9650 would result in a bullish bias, while a movement below the support level at 0.9450 would help strengthen it. This is the expectation for today and tomorrow.

GBP/USD: The GBP/USD has gone further upwards this week, as price stays around the distribution territories at 1.3250 and 1.3300. There is a huge Bearish Confirmation Pattern in the market, which means price would continue going upwards, gaining another 150 – 200 pips this week.

USD/JPY: This market opened this week with a minor gap and then shot skywards, thus threatening the recent bearishness in the market. Since the outlook on the market is bullish for this week, it is expected that price would continue going upward, reaching the supply levels at 110.00, 110.50 and 111.00 within the next few trading days.

EUR/JPY: A clean bullish signal has been generated on this cross: Price is now above the demand zone at 131.00, targeting the supply zone at 131.50 (which may be exceeded, owing to the bullish outlook on JPY pair this week). As long as price stays above the demand zone at 129.50, the bullish signal would be intact.

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