Daily FX Forecast

EUR/USD

Resistance levels: 1.5500/1.5550/.5600
Support levels: 1.5410/1.5360/1.5280

EUR/USD has found base at 1.5360 Support earlier today No important fundamental news today No change in our view. On downside, the bias remains bearish for further ease towards 1.5220 and 1.5180 in longer term term First Support again near 1.5410 ahead of 1.5360 daily bottom On the upside , the move above 1.5420 may confirm recovery towards 1.5500 and 1.5550 levels over today and tomorrow

Strategy-neutral

GBP/USD

Resistance levels: 1.9600/1.9650/1.9750
Support levels: 1.9540/1.9450/1.9350

GBP/USD has risen to 1.9600 our target earlier today as it was suggested in our previous report No change in our view On downside, the bias remains bearish in mid and longer term for test towards 1.9400 and 1.9350 longer term targets First immediate Support stands near 1.9540 ahead of 1.9450 key one On the upside, beyond 1.9600 or target squeezes price higher to 1.9650 over the next trading sessions and 1.9740-50 area in mid term

Strategy-neutral.

USD/JPY

Resistance levels: 104.00/104.60/105.00
Support levels: 103.00/102.60/102.20

USD/JPY has retested 102.60 previous bottom earlier today No change in our view The bias remains bearish for test towards 102.20 and 101.80 in longer term First Support near 103.00 ahead of 102.60 lows On the other side, a break above 104.00 first Resistance is required to signal reversal in the bias and move towards 105.00 and 105.60-70 area over the next trading days

Strategy-neutral.

USD/CHF

Resistance levels: 1.0500/1.0580/1.0610
Support levels: 1.0440/1.0400/1.0350/1.0300

USD/CHF has traded flat below 1.0500 first important Resistance earlier today On the upside, we saw rebound towards 1.0470 and 1.0500 key level again earlier today as it was suggested in our previous reports Beyond 1.0500 resumes the upmove towards 1.0580 and 1.0610-30 region over today and tomorrow On downside, first Support stands near 1.0440 ahead of 1.0400 key one

Strategy-neutral.

EUR/JPY

Resistance levels: 161.00/162.00/162.50
Support levels: 159.60/159.00/158.60/158.20

The Cross has formed double bottom at 158.60 Support earlier today and rebound to 160.20 and towards 161.00 our targets earlier today exactly as it was suggested in our previous report As long as price holds above 159.60 further upmove towards 162.40-50 area is not ruled out over the next trading daysOn the other side , first Support stands at 159.60 Below resumes downmove to 158.60 and 158.20

Strategy-neutral.

FXDream