Daily FX Forecast

EUR/USD

Resistance levels: 1.5860/1.5900/1.6000
Support levels: 1.5730/1.5650/1.5600

EUR/USD has reversed above 1.5800 earlier today Today focus will be on US GDP numbers at 12:30 GMT The consensus is at 0.6% The bias remains positive for retest of 1.5900 record high at least and 1.6000 psychological level in longer term First Resistance comes at 1.5860 yesterday highs In short term if the number comes out at 0.2% or more negative retest of 1.5850-60 region is likely to be seen later today On downside, if the number comes out at 1.0% or higher east towards 1.5730-00 area may be seen after the event.

Strategy-neutral.

GBP/USD

Resistance levels: 2.0150/2.0260/2.0280
Support levels: 2.0100/2.0040/1.9930

GBP/USD has risen beyond 2.0150 our first target earlier today as it was suggested The uptrend remains intact for test towards 2.0260-80 area over the next trading sessions On downside, first Support comes at 2.0100 ahead of 2.0040 stronger one . Trade from Long side for test towards 2.0260-80 area over today and tomorrow on weak US GDP numbers

Strategy-neutral.

USD/JPY

Resistance levels: 100.00/100.70/101.20
Support levels: 99.20/98.50/98.00

USD/JPY has eased back to 99.20 first Support earlier today after failing to break above 100.00 psychological level . No change in our view The bias remains bearish for retest of 95.70 and even 95.00 in longer term First Suport remains at 99.20 now Below eases price towards 98.50 daily lows and 97.70 key Support .On the upside, a break beyond 100.00 again may boost price towards 100.70 over today and tomorrow and 101.20 over the next trading days

Strategy-neutral.

USD/CHF

Resistance levels: 1.0000/1.0070/1.0110
Support levels: 0.9910/0.9880/0.9800/0.9640

USD/CHF has failed to climb beyond 1.00 important level and first Resistance earlier today No change in our view. The bias remains bearish for test towards 0.9800 and 0.9640 bottom in longer term First Support comes near 0.9910 daily lows now On the upside, a break above 1.000 again reverses price towards 1.0070 over today and tomorrow and 1.0110 in mid term Stronger than expected GDP data from USA may cause upmove to 1.0000-10 area later today

Strategy-neutral.

EUR/JPY

Resistance levels: 157.50/158.00/159.00
Support levels: 156.40/156.00/155.30/154.80

The Cross has risen further towards 157.50 yesterday highs earlier today as it was suggested No change in our view. As long as price trades above 156.00 further upmove towards 158.00 and even 159.00 may be seen over the next couple of days. First minor Resistance comes near 157.50 On downside, a fall below 156.00 again is needed for resuming the downmove towards 155.30 lows and 154.80 First minor Support comes at 156.40

Strategy-neutral.

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