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Daily analysis of major pairs for April 17, 2018

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Daily analysis of USD/CHF for April 17, 2018

USD/CHF

The market traded lower on Monday, and nothing has changed apart from that. This week is supposed to be bullish, because USD will likely gain some stamina against certain currencies pairs, and that might happen before the week runs out. The first object of attack this week is the resistance level at 0.9650.

The situation in the market is now dicey, until there will be a directional movement in the market. However, a directional movement is anticipated. The support levels at 0.9500 and 0.9450 would try to impede any southward attempts.

Daily analysis of USD/JPY for April 17, 2018

USD/JPY

On this pair, there was a shallow bearish retracement on April 16. In contrast, there is a weak short-term bullishness owing to the fact that price made some effort to go upwards last week, gaining only 80 pips. It might go upwards this week, to corroborate the recent bullish effort in the market.

However, price would be able to go above the supply level at 107.50; even reaching other supply levels at 108.50, 109.00 and 109.50. There is some bullish expectation on JPY pairs this week, which could see some rallies on them.

Daily analysis of EUR/JPY for April 17, 2018

EUR/JPY

There is now a bullish bias on this cross, which has gained roughly 250 pips this month, and it can gain another 250 pips before the end of the month. The targets at the supply zones at 132.00, 133.00 and 133.50, remain valid. They may even be exceeded as price journeys further upwards this week.

There is a Bullish Confirmation Pattern in the market, which would become more and more serious as price goes northwards. The price action also reveals that bulls are intent on pushing price further upwards. Short trades are not yet recommended.

Trading realities: http://www.advfnbooks.com/books/unlockpotential/index.html

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