Daily FX Forecast

EUR/USD

Resistance levels: 1.3930/1.3950/1.400
Support levels: 1.3880/1.3840/1.3810

EUR/USD has eased below 1.3880 first immediate Support earlier today after restest of 1.3930 first Resistance . No important fundamental news today. No change in our view The bias remains positive for further rally towards 1.3930 and 1.400 over the next trading days. On downside, first immediate Support comes around 1.3850-40 area ahead of 1.3820-10 area. Look to buy agan on pullback for test of towards 1.3930 and 1.400 over the next trading days

Strategy-neutral.


GBP/USD

Resistance levels: 2.0300/2.0350/2.0400
Support levels: 2.0230/2.0150/2.0100

GBP/USD has eased further towards 2.0230 first Support earlier today as it was suggested No change in our view The bias remains positive as long as price is above 2.0150 for further rise towards 2.0400 over the next couple of days. First Resistance comes around 2.0300 On downside, further ease down towards 2.0230 crucial Support in short term may be seen Below may cause deeper correction towards 2.0150 key one.Stay aside for now looking to buy on pullback for test of 2.0350 and 2.0400 and higher over the next trading days

Strategy-neutral.


USD/JPY

Resistance levels: 115.20/115.50/116.00
Support levels: 114.50/113.80/113.20

USD/JPY has broken above 114.50 first previous Resistance towards 115.20 our target earlier today . No change in our view. The bias remains negative in longer term for test of 112.00 and even 111.60 previous bottom. First Support comes around 114.50 ahead of 113.80 now . On the upside, further upmove towards 115.50 and 116.00 may be seen over the next trading sessions as long as price is above 114.50. The up target is at 117.10

Strategy-neutral.


USD/CHF

Resistance levels: 1.1900/1.1950/1.2000
Support levels: 1.1820/1.1750/1.1700

USD/CHF has spiked in the 1.18-1.19 range after Swiss National Bank Interest Rate Decision earlier today No change in our view. The bias remains negative for further downmove towards 1.1750 and 1.1700 in longer term On the upside, first important Resistance comes in the 1.1895-1.1900 key region. Beyond may squeeze price higher to 1.1950. Stay aside for now

Strategy-neutral.


EUR/JPY

Resistance levels: 160.00/160.45//161.00
Support levels: 159.00/158.30/157.75

The Cross has risen further beyond our target in the 159.70-80 area earlier today as it was suggested in our previous report No change in our view. The uptrend remains intact and the break beyond 159.50-70 previous important Resistance area signals resuming the uptrend towards 161.00 and 164.00 in longer term. First target comes around 160.45 On downside, first Support comes at 159.00 ahead of 158.30 key one.. Stay from Long side for further upmove towards 160.45 and 161.00

Strategy-neutral.


By DailyFx


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