Forex Daily Forecast Aug 05 2019

EURUSD Faces Recovery Threats. GBPUSD At Risk Of Falling Down! USDJPY Bearish Eyes Further Downside. AUDUSD: Remains Under Heavy Pressure! USDCAD: Bullish But Around Critical Resistance!

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EURUSD Faces Recovery Threats

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 to 1.1162 levels. A halt is likely, it may turn lower from here. However; above 1.1162 will extend the corrective recovery to 1.1218 levels. Furthermore, resistance comes at 1.1282 levels.

On the downside, immediate support comes at 1.1075 levels. A cut below support will turn the focus back on the 1.1015 levels. Below that level aims the 1.0975 levels ahead of 1.0930 levels.

In conclusion: The  EURUSD faces recovery threats above 1.1075 levels. Below that level sees a fall risk to 1.1015/1.0975 levels.

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

Resistance:  1.1162, 1.1218, 1.1282, 1.1369, 1.1410

Forex Daily Forecast Aug 05 2019-EURUSDGBPUSD At Risk Of Falling Down!

As long as 1.2220 resistance holds on a daily closing basis. The GBPUSD remains on the downside. Support comes at 1.2142/1.2100 levels. A halt is likely, it may turn up from here, however; below 1.2100 will challenge the psycho level 1.2000. It may test 1.2100 before a lower leg below 1.2000 levels. Anyway, next support comes at 1.1900 levels ahead of 1.1800 levels. On the upside. Above 1.2220 sees recovery threats 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 05 2019-GBPUSDUSDJPY Bearish Eyes Further Downside

As long as – 106.60 broken support turned resistance – holds on a daily closing basis. The USDJPY remains on the downside to 105.87 levels ahead of 105.30 levels. Above 106.60 sees recovery threats to 107.15/107.70 levels before another fall.

Support: 107.15, 106.60, 105.87, 105.30, 104.63, 103.95

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

Forex Daily Forecast Aug 05 2019-USDJPYAUDUSD: Remains Under Heavy Pressure!

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 05 2019-AUDUSDUSDCAD: Bullish 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 bullish move 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 05 2019-USDCAD

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