Daily FX Forecast

Daily Forex Technicals | Written by FX Dream | Jul 24 08 07:45 GMT |

EUR/USD Resistance levels: 1.5730/1.5800/1.5850 Support levels: 1.5660/1.5610/1.5540 EUR/USD has fallen further below 1.5690 our down suggestion over tha last trading sessions as it was suggested in our previous reports Today focus will be on IFO Business Climate Index from Germany at 08:00 GMT The consensus is at 100.2 Use 1 point deviation If the number comes out at 99.00 or lower, furthr eases towards 1.5610 may be seen after the event and 1.5540 in longer term On the upside, if the number comes out at 101.0 or higher, recovery to 1.5730 first Resistance after the event and 1.5800 in mid term is likely to be seen Strategy-neutral GBP/USD Resistance levels: 2.000/2.0080/2.0150 Support levels: 1.9900/1.9850/1.9790 GBP/USD has recovred above 2.00 yesterday after Bank of England Minutesoday focus will be on UK Retail Sales numbers at 08:30 GMT The consensus is at -2.6% If the number comes at -3.6% or lower towards 1.9850-40 region may be seen later today and even 1.9790 in mid term On the upside, if the number comes out at -1.6% or better number, reversla towards 2.00 Resistance is not ruled out after the event Sell GBP/USD at 1.9920,Stop-loss-1.9960, Take profit-1.9860( 1.9810) USD/JPY Resistance levels: 107.80/108.40/109.00 Support levels: 107.50/107.00/106.50/106.10 USD/JPY has risen further above 107.80 our next up target yesterday The bias remains positive for test towards 108.40 and 109.00 over the next trading sessions On downside, first immediate Support comes at 107.50 Below eases price down to 107.00 in mid term Strategy-neutral. USD/CHF Resistance levels: 1.0390/1.0470/1.0500 Support levels: 1.0330/1.0280/1.0200/1.0140 USD/CHF has risen further exactly to our target at 1.0390 yesterday as it was suggested On the upside, the upmove remains intact and a break above 1.0390 may squeeze price higher further towads 1.0470 and 1.0500 over today and tomorrow First Resistance stands at 1.0390 On downside, below 1.0330first Support may ease price down to 1.0280 over the next trading sessions Strategy-neutral. EUR/JPY Resistance levels: 169.40/170.00/170.40 Support levels: 169.10/168.30/167.30 The Cross has eased below 169.10 over the last trading sessions No change in our view. On the upside, the uptrend remains intact in longer for reaching new record highs beyond 170.00 In short term, a break above 169.40 is required to signal resuming the upmove towards 170.00 On downside, the break below 169.10-00 area may cause pullback down to 168.30 later today Strategy-neutral. FXDream