Forex Daily Forecast Aug 02 2019

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Dollar -Yen -6599856

EURUSD: Bearish Despite Recovery Attempts.

As long as 1.1075 support holds on a daily closing basis. The EURUSD remains in a recovery mode and further upside could be seen with caution. But any recovery above 1.1075 will be limited by 1.1150/1.1218 levels. Above that level will extend the corrective recovery to 1.1282 levels. Below 1.1075 on a daily closing basis may expose the 1.1015 levels and pave the way to 1.0975/1.0930 levels…

Support: 1.1075, 1.1015, 1.0975. 1.0930, 1.0860, 1.0775

Resistance:  1.1150, 1.1218, 1.1282, 1.1369, 1.1410

Note: Minor resistance comes at 1.1095 levels. A sustained breakout (daily closing) above that level will pave the way to 1.1150/1.1218 levels. below 1.1095 will keep pushing on 1.1075 levels.

 

Forex Daily Forecast Aug 02 2019-EURUSDGBPUSD: Bearish But Around Long-term Support…

Below 1.2142/1.2100 levels will pave the way to 1.2000/1.1800. Stability above this level will suggest possible recovery to 1.2285/1.2357 levels before another fall…

As long as 1.2220 resistance holds on a daily closing basis. The GBPUSD remains on the downside to 1.2142/1.2100 levels. A halt is likely, it may test 1.2220 once again. However; Above 1.2220 sees a recovery risk to 1.2285/1.2357 levels before another fall.

Support: 1.2142, 1.2100, 1.2000, 1.1900, 1.1800

Resistance: 1.2220, 1.2285, 1.2357, 1.2400, 1.2500, 1.2577

Forex Daily Forecast Aug 02 2019-GBPUSDUSDJPY: Turns Lower on Price Failure!

With USDJPY failing to take out the 109.17 levels. The pair declined yesterday. Closed below 107.70 levels. Noe the focus will turn to 107.15 levels. Below 107.15 will accelerate the bearish move to 106.60 levels. A halt is likely, it may test 107.15 before another fall. Above 107.15 will bring limited gains below 108.75/109.17 levels.

Support: 107.15, 106.60, 105.87, 105.30, 104.63

Resistance: 108.03, 108.75,109.17, 109.60, 110.25, 110.70

Forex Daily Forecast Aug 02 2019-USDJPYAUDUSD: Very Bearish…Unstoppable

As long as 0.6835 resistance holds on a daily closing basis. The AUDUSD remains on the downside to 0.6790 levels. A halt is likely, it may test 0.6835 before attempts to break below 0.6790 levels. Anyway; below 0.6790 aims 0.6725 levels ahead of 0.6666 levels. Above 0.6835 sees recovery threats to 0.6870/0.6900 before another fall.

Support: 0.6835, 0.6790, 0.6725, 0.6666

Resistance: 0.6870, 0.6900, 0.6948, 0.6975

Forex Daily Forecast Aug 02 2019-AUDUSDUSDCAD: Recovers But Around Critical Resistance!

As long as 1.3115 support holds on a daily closing basis. The USDCAD remains to the upside to 1.3188/1.3222 levels. A failure to hold above 1.3222 could mean a return to 1.3115 even may break lower. Above 1.3222 will extend the recovery to 1.3280 levels. Below 1.3115 sees fall risk to 1.3055/1.3015 levels.

Support: 1.3115, 1.3055, 1.3015, 1.2930

Resistance: 1.3188, 1.3222, 1.3280, 1.3340

Forex Daily Forecast Aug 02 2019-USDCAD

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