Daily FX Forecast

EUR/USD

Resistance levels: 1.3900/1.3930/1.400
Support levels: 1.3850/1.3810/1.3780

EUR/USD still trading above 1.3850 first immediate Support after weak , below expectations US Empire Manifacturing Indicator earlier today No change in our view. The bias remains positive for further rally towards 1.3930 and 1.400 in longer term. First Resistance comes around 1.3900. On downside, a break below 1.3850 first Support signals further ease towards 1.3820-10 area over the next trading days.

Strategy-neutral.

GBP/USD

Resistance levels: 2.0050/2.0090/2.0130
Support levels: 1.9950/1.9900/1.9850

GBP/USD has fallen further below our target at 1.9960 earlier today as it was suggested . We have booked 55 pip profit over the first part and 115 pip over the rest of our Short position.The bias remains negative for further downmove towards 1.9900 tomorrow as long as price is below 2.0090 first crucial Resistance. First immediate Resistance comes at 2.0050. Look to sell again on pullback for for test of 1.9950 and 1.9900

Holding GBP/USD Short at 2.0095,Stop-loss-2.0075( down from 2.0130),Take profit-2.0040(1.9980)

USD/JPY

Resistance levels: 115.50/116.00/116.50
Support levels: 114.50/113.80/113.20

USD/JPY has reversed back towards 115.50 on Friday as it was suggested . No change in our view. The bias remains negative in longer term for test of 112.00 and even 111.60 previous bottom. Below first Support at 114.50 may ease price down towards 113.80 over the next trading sessions . On the upside, reversal for retest 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: 1.1920/1.1950/1.2000
Support levels: 1.1850/1.1800/1.1750

USD/CHF has traded ranged above 1.1850 first Resistance earlier today As long as price is above 1.1850 first Support further upmove to 1.1940-50 area is likely to be seen over the next trading days. On the other side, a break below 1.1850 is needed for resuming the downtrend towards 1.1800 bottom and 1.1750 in longer term.

Strategy-neutral.

EUR/JPY

Resistance levels: 160.00/160.45//161.00
Support levels: 158.80/158.15/157.50

The Cross is still trading near 158.80 first important Support No change in our view. On downside, below 159.00-158.80 area reverses the bias towards 158.15 and 157.50 over the next trading session.. On the upside, if the 158.80 holds , retest of 160.45 strong Resistance and higher towards 161.50 may be seen in mid term. In longer term the target is at 164.00

Strategy-neutral.

By FXDream

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