Daily analysis of major pairs for August 25, 2014

The USD/JPY has already tested the supply level at 104.00. Should that supply level gets breached to the upside, the next target in the chart would be the supply level at 104.50.

EUR/USD: This pair has been able to continue its southward journey. As it was accurately forecasted, the last rally in the market proffered a short-selling opportunity. On Friday, August 22, 2014, the price closed at 1.3239. The price is now trading below the resistance line at 1.3250; it might reach the support line at 1.3200 this week.

USD/CHF: This pair has been able to continue its northward journey. As it was accurately forecasted, the last dip in the market proffered an opportunity to go long. The resistance level at 0.9150 has already been tested, and with renewed effort from the bulls, the price may close above that resistance level and go further upwards to another resistance level at 0.9200.

GBP/USD: This is a weak market, and the price has been able to stay below the distribution territory at 1.6600. Following the current pause in the trending move, the price may test the accumulation territory at 1.6550.

USD/JPY: The USD/JPY has already tested the supply level at 104.00. Should that supply level gets breached to the upside, the next target in the chart would be the supply level at 104.50. Right now, the Bullish Confirmation Pattern in the market is very strong, and therefore, short trades are currently not logical here.

EUR/JPY: This market is a bull market – as long as the price stays above the demand zone at 137.00. There is a bearish retracement in the market but it is likely that the price would turn upwards and test the supply zone at 138.00.

Learn from the Generals of the Markets: Market Generals

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

WHAT IS ADVFN?

ADVFN covers all things stock market.

From the news and opinion pieces on pages like this to share discussion forums, charting tools, financials, live share prices and Level 2, order book data

If you trade or invest ADVFN has the tools you need to make the right decisions.

• 

  101 Ways to Pick Stock Market Winners

  You need the number one bestselling investment guide, the definitive text for day traders, investors and stock pickers.

• 

  The Death of Wealth

  Dissecting the global economy and the financial markets, the book lays out the evidence for the next economic game changer: the Death of Wealth.

• 

  Zak Mir

• 

  Neil Woodfine

• 

  Brokermandaniel

• 

  Ramla Soni