Daily FX Forecast

Daily Forex Technicals | Written by FX Dream | Aug 18 08 08:02 GMT |

EUR/USD

Resistance levels: 1.4770/1.4800/1.4850
Support levels: 1.4700/1.4660/1.4620

EUR/USD has fallen heavily further below 1.4700 on Friday exactly as it was suggested in our previous reports No important fundamental new today On downside, the bias remains bearish and a break below 1.4700 may lead price towards 1.4620 later today On the other side, first minor Resistance stands at 1.4770 Above recovers price towards 1.4850 over the next trading sessions

Strategy-neutral.
GBP/USD

Resistance levels: 1.8730/1.8790/1.8860
Support levels: 1.8630/1.8510/1.8450

GBP/USD has fallen further heavily directly below 1.9520 our next target on Friday exactly as it was suggested On downside, the bias remains bearish for retest towards 1.8520 over the next trading sessions First Support stands at 1.8630 On the upside, an upmove above 1.8780-90 key Resistance is needed for reversal and deeper correction towards 1.8860 and 1.8920 First minor Resistance comes near 1.9730

Strategy-neutral.
USD/JPY

Resistance levels: 110.40/111.00
Support levels: 109.70/109.00/108.30

USD/JPY has retested 110.40 previous highs and our target on Friday as it was suggested in our previous reports No change in our view. On the upside, a break above 110.40 again confirms resuming the upmove towards 111.00 new highs . On downside, first important Support comes at 109.70 now Below turns price back to 109.00 later today and 108.40-30 bottom area in mid term

Strategy-neutral.
USD/CHF

Resistance levels: 1.1000/1.1050/1.1100
Support levels: 1.0910/1.0900/1.0840

USD/CHF has tested 1.1000 on Friday as it was suggested We have booked 60 pip profit over the first part and 105 pip profit over the rest of our Long position On downside , key pivot level now at 1.09100 Below turns price back towards 1.0840-30 area On the upside, as long as price holds above 1.0910 the uptrend remains intact for retest towards 1.1000 later tday and 1.1100 in longer term

Holding USD/CHF Long at 1.0890, Stop-loss-1.0920( up from 1.8850 ), Take profit-1.0950( 1.0995)
EUR/JPY

Resistance levels: 163.00/164.00/164.30
Support levels: 162.00/161.40/161.00

The Cross has traded ranged below 163.00 first Resistance over the last trading sessions On downside, the bias remains bearish for test towards 161.60-40 bottom region in mid term First Support comes near 162.00 On the upside, an upmove above 163.00 again may recover price up towards 164.00 and 164.30

Strategy-neutral.

FXDream