Daily FX Forecast

Daily Forex Technicals | Written by FX Dream | Jul 08 08 08:11 GMT |
EUR/USD

Resistance levels: 1.5750/1.5840/1.5900
Support levels: 1.5640/1.5600/1.5530

EUR/USD has dropped sharply below 1.5700 on Thursday and then down to 1.5610 lows over the last trading sessions after ECB Comments Today focus will be on Bernanke Speech at 12:30 GMT. As long as price trades below 1.5740-50 first important Resistance area the bias remains bearish for retest of 1.5610-00 region and 1.5530 in mid term First Minor Support comes at 1.5640 On the upside, dovish Bernanke Comments later today may boots price up to 1.5750 Resistance Beyond resumes the upmove towards 1.5840 and 1.5900 previous highs in mid term

Strategy-neutral
GBP/USD

Resistance levels: 1.9790/1.9830/1.9900
Support levels: 1.9650/1.9580/1.9510

GBP/USD has fallen down to 1.9800 on Thursday and then 1.9650 bottom yesterday. Now the bias remains bearish as long as price holds below 1.9790 key Resistance for retest of 1.9650 bottom Below eases price further down to 1.9585-80 area. On the upside, above 1.9790 crucial Resisatnce moves price up higher to 1.9830 later today and 1.9900 in mid term

Strategy-neutral.
USD/JPY

Resistance levels: 107.20/107.80/108.40
Support levels: 106.60/106.00/105.20

USD/JPY has risen up to 107.20 and towards 107.80 our up targets over the last trading sessions exactly as it was suggested We have booked 65 pip over the first part and 115 pip over the rest of our Long position Now there is key Support at 106.70-60 area Below turns price down to 106.00 later today and 105.20 over today and tomorrow. On the upside, above 107.20 is needed for resuming the uptrend towards 107.80

Holding USD/JPY Long at 106.45,Stop-loss-106.00, Take profit-107.10( 107.60)
USD/CHF

Resistance levels: 1.0280/1.0350/1.0400
Support levels: 1.0240/1.0170/1.0120

USD/CHF has risen up to 1.0280 our up target on Thursday as it was suggested and then towards 1.0350 next Resistance yesterday Now price meets important Support at 1.0240 Below turns price back towards 1.0170 later today and 1.0120-10 bottom levels over today and tomorrow On the upside, above 1.0280 first Resistance moves price up towards 1.0350 last days highs

Strategy-neutral.
EUR/JPY

Resistance levels: 168.00/168.60/169.00/169.50
Support levels: 167.30/166.50/166.00

The Cross has fallen back below 167.30 over the last trading days on the break below 168.40 and 168.00 previous key Support levels Now 168.00 previous Support has turned into important Resistance Above moves price up towards 168.60 later today and 169.00 in mid term On downside, as long as price trades below 168.00 the downtrend remains intact with next targets at 166.50 and 166.00

Strategy-neutral.

FXDream