Daily analysis of major pairs for June 27, 2014

EUR/USD:  After this pair touched the resistance line at 1.3650, it got corrected lower. However, the downside correction ought to be contained at the support line of 1.3550. For the extant bullish bias to continue to be relevant, the price needs to break that resistance line to the upside, even closing above it.

USD/CHF: There is now a transitory rally on the USD/CHF, which ought to be contained at the resistance level of 0.8950. Further bearish movement could result from that resistance level.Even, should the price break that resistance level to the upside, it would not be able to close above the resistance level at 0.9000.

GBP/USD:  At last, the Cable has been able to go into some positive correlation with the EUR/USD. It has assumed its bullish journey and the bulls may try to push the price beyond the distribution territory at 1.7050. That distribution territory was tested last week, and it could also be tested again and breached to the upside.

USD/JPY:  There is a Bearish Confirmation Pattern on this pair, and it is sensible to go short. However, the price may not go downward significantly, but it may reach the demand level at 101.00.

EUR/JPY:  Because of the sudden weakness of the EUR versus the JPY, there has been a bearish signal in the market. The price has closed below the EMAs 11 and 56; while the RSI period 14 has gone below the level 50. Short trades are now preferable.