Forex Majors technical analysis 1/09/2017



The pair is rejected from 1.0600-1.0650 zone and has formed a rectangle between 1.0340-1.0650. We need to see a  break below 1.0350 for downside continuation. We could have a period of consolidation until a definite break in direction of a trend.


The pair is rejected from 100 SMA (red line) and has broken the wedge below 1.2600. As long as the pair is below 1.2457 we could see downside extension and a retest of 1.2000. Look for short entries in the case of the rallies higher, SL should be above 1.2300. The pair is an a process of breaking important 1.2200 level for extension lower.


Is testing again strong support zone 1.3080-1.3170. Reaction from this zone is important for upside continuation. SL on longs should be below 1.3080.


The pair is testing falling trend line. Look for short entries in this area for continuation lower and retest of  0.7150 level. SL on shorts should be above 0.7400.

NZDUSD is rejected from a strong downside support of 0.7050. Look for short entries on any rallies higher. SL on longs should be above 0.7050.


Is on a way to test strong upside resistance 0.8700 level. With GBP weakness this level would be crucial for upside extension.


The pair bounced from 115 level but it still has to break 117.640 level of strong upside resistance. Break and close above this level is needed for upside continuation to 120.


USD correction is over and now the upside is open. We have an upside trend continuation in USD.

The four forex pairs which are considered to be the most heavily traded in the forex market. The four major pairs are: EURUSD, GBPUSD, AUDUSD, USDJPY.
These currency pairs are considered by many to drive the global forex market and are the most heavily traded. Although it is widely regarded that the major pairs consist of only four pairs, some believe that the NZSDUSD, USDCAD and EURGBP pairs should also be regarded as majors so we are adding them also.

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