Forex Majors technical analysis 3/13/2017



The pair is in the triangle now between 1.05200 and 1.08000 level. The downside support zone is 1.07500-1.0800. Look for only short entries in this zone as long as the pair is below 1.08500 level.



The pair is rejected from the confluence of trendlines 1.2550-1.2600 zone. Only the daily close above 1.2680 will invalidate sideways range between 1.2000-1.2700. With the clear break of 1.2360 level, the pair is going for a lower range level 1.2000 retest. Only short trades are preferred with SL above 1.2300. No change in view.



The pair has bounced from the strong support of medium-term upside Pitchfork channel 1.2980. The pair has broken above 1.3180 level and is extending the upside continuation. The pair is now retesting the broken 1.3430 level. The reaction from here is important. Staying aside for now.



The pair is extending the fall below 0.7560 level. As long as the 0.7560-0.7600 zone holds look for short entries targeting 0.7300 level. The pair is reaching the sell zone. Look only for short entries with SL above 0.7620.


NZDUSD has reached the extension targets and has broken below important 0.7000 level. The 0.6950-0.7000 zone will act now as a strong downside support.The pair is entering the support zone, look fro reaction from here for new entries.




The pair has broken above falling trend line 0.8700 level but is still below important horizontal resistance 0.8740 level. Rejection from here would leave the H&S formation possible. Strong upside support and downside resistance zone is 0.8550-0.8600. The pair briefly broke above 0.8740 and now we need to see a confirmation of the break above this level.



The pair has broken above the strong resistance 114.780 level. The daily close above this level means that the range is over and we could extend upside continuation. SL on long entries should be below 113.400. The strong support zone for new long entries is 113.600-114.500.

USD correction is on a way. We need to see the reaction from this levels for the continuation higher.

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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