Daily analysis of major pairs for March 5, 2018

Share On Facebook

Daily analysis of USD/CHF for March 5, 2018

©

USD/CHF
This currency trading instrument is bearish in the long-term, neutral in the short-term, and it is quite choppy at the present. The bearishness in the market has been in place since early November 2017; plus last week was rough. Price rose from the support level at 0.9350, went above the resistance level at 0.9450, only to drop towards the support level at 0.9350 again.

There is a Bearish Confirmation Pattern in the market. A breach of the support levels at 0.9350, 0.9300 and finally, 0.9250, would bring about a bearish outlook on the market. A movement to the upside would save the extant bullish bias.

Daily analysis of USD/JPY for March 5, 2018

USD/JPY
The USD/JPY moved sideways from Monday to Thursday, and then began to come downwards (to place more emphasis on the bearishness of the market). Price has gone below the supply levels at 106.50, and 106.00; and it may test the demand levels at 105.50, breaching it to the downside as another demand level at 105.00 targeted.

There is currently a Bearish Confirmation Pattern in the 4-hour chart, which pinpoints further southwards movement. On the other hand, a strong reversal could occur, which would result in a threat to the current bearish bias.

Daily analysis of EUR/JPY for March 5, 2018

EUR/JPY
This cross pair is a weak market. It is interesting to see the market being engaged in a long, protracted bearish movement. Since the beginning of February, at least, 700 pups have been shed. In the past few weeks, short-term rallies have been invariably followed by further southwards movements.

There is currently a Bearish Confirmation Pattern in the market. Price would continue moving downwards towards the demand zones at 130.00, 129.50 and 129.00. Nonetheless, a strong rally is in the offing, as the outlook on EUR pairs is bullish for this week.

 

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

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).

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.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:42 V: D:20180622 01:41:33