FX.co ★ Daily analysis of major pairs for March 19, 2014

EUR/USD: The price is above the support line at 1.3900. There is another support line at 1.3850, which can serve as a real barrier to any bearish attempts. There are still signs of bullish determination on the EUR/USD, and our target at 1.4000 remains unchanged. The EUR/USD is thus capable of trending further upwards, first breaking the resistance line at 1.3950 before going to the target at 1.4000.

USD/CHF: This pair continues to remain slow and tardy – albeit with a very strong bearish outlook. Our target at the support level of 1.8700 is still in place. After all, the price tested it a few times last week, so there should not be any challenge in testing it this week or next week. In fact, with a renewal of a serious selling pressure, the support level could even be breached to the downside.

GBP/USD: This market remains an equilibrium market, though the price territory at 1.6600 has been breached to the downside. The market is again trying to challenge that price territory: it may not be able to breach it to the upside, unless the bulls become very strong here.

USD/JPY: Yes, this is a bear market and any rally means that one should go short. There is a supply level at 102.00, which would act as a real barrier to any revolting upswings. It is thus possible that the price could slide downwards to the demand level at 101.00.

EUR/JPY: Our target at the demand zone of 141.00 was tested; while the price bounced upwards from that zone. With a continuation of a bearish move, that demand zone could be re-tested, broken to the downside, while the price continues going lower.