Daily FX Forecast

Daily Forex Technicals | Written by FX Dream | Sep 11 08 07:55 GMT |

EUR/USD

Resistance levels: 1.3970/1.4000/1.4050
Support levels: 1.3930/1.3850/1.3800

EUR/USD has fallen further heavily to 1.3930 lows yesterday after the break below 1.4100 previous Support and Trichet Speech Today focuw will be on US Trade Deficit Numbers at 12:30 GMT On downside, the bias remains bearish with next targets at 1.3850 nad 1.3800 First Support comes near 1.3930 bottom Below lead price further down to 1.3850 On the upside, first minor Resistance stands at 1.3970, however, a beak above 1.4000 is needed to signal recovery towards 1.4050-70 area

Strategy-neutral.
GBP/USD

Resistance levels: 1.7550/1.7630/1.7670
Support levels: 1.7470/1.7400/1.7250

GBP/USD has retested 1.7470 previous lows over the last trading sessions ( below 1.7500 our down target )on the break below 1.7600 previous Support exactly as it was suggested The bias remains bearish and below 1.7470 double bottom formed further ease to 1.7400 latr today and 1.7250 in longer term may be seen On the upside, first Resistance comes near 1.7550 Above recovers price towards 1.7620-30 area later today and 1.7670 in mid term

Strategy-neutral.
USD/JPY

Resistance levels: 108.00/108.60/109.00
Support levels: 107.00/106.70/106.20

USD/JPY has found Support near 106.70 previous lows over the last trading sessions as price has failed to break above 108.00. No change in our view. The bias remains bearish and below 107.00 first minor Support reverses price down towards 106.20 over today and tomorrow On the upside, there is strong Resistance at 108.00 A break above that levels is required for reversal in the bias and test towards 108.60 and 109.00

Strategy-neutral.
USD/CHF

Resistance levels: 1.1400/1.1450/1.1560
Support levels: 1.1350/1.1300/1.1220

USD/CHF has reached new highs at 1.1400 ( beyond 1.1370 our target )over the last trading sessions after the rise above 1.1300 as it was suggested in our previous report. The uptend remains intact and above 1.1400 first Resistance opens territory for test towads 1.1470 nad even 1.1560 over today and tomorrow On downside, first Support comes at 1.1350 Below turns price back to 1.1300 later today

Strategy-neutral.
EUR/JPY

Resistance levels: 150.00/150.50/151.00
Support levels: 149.25/148.00/147.50

The Cross has reached new lows at 149.30 ( below 150.00 our down target) over the last trading sessions after the break below 151.00 previous key Support as it was suggested. The bias remians bearish now and below 149.25 crucial Support lead price directlt towards 148.00 and even 147.50 in mid term On the upside, first minor Resistance comes at 150.00 Above causes pullback up to 150.50-60 area later oday

Strategy-neutral.

FX Dream