Forex Daily Forecast Aug 09 2019

EURUSD Loses Recovery Momentum, Vulnerable Below 1.1218...GBPUSD: Faces Fall Risk Below 1.2140 Levels. USDJPY Bearish Despite Recovery Attempts! AUDUSD: Consolidates With Downside Bias! USDCAD: Bullish But Hesitates Ahead Of 1.3340 levels.

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EURO -dollar -6598554

EURUSD Loses Recovery Momentum, Vulnerable Below 1.1218

The EURUSD remains in a recovery mode as long as 1.1162 broken resistance turned support holds on a daily closing basis. Resistance comes at 1.1218 levels. A daily closing above that level is needed to open 1.1282 levels. A halt is likely. It may test 1.1218 before attempts to break higher. Anyway; above 1.1282 will extend the corrective recovery to 1.1333/1.1369 levels.

According to the 1-hour chart. The bullish momentum is fading away, It may dip to 1.1162 levels. A sustained breakout above 1.1218 is needed to prevent a return to the downside.

Alternatively, a failure to hold above the 1.1218 levels could mean a return to 1.1162 levels. It should turn higher from here. Anyway; below 1.1162 should weaken the recent recovery and turn the focus back on the 1.1100/1.1075 levels. Below that level will reverse risk to the downside to 1.1015 levels.

In conclusion: The EURUSD sees recovery threats above 1.1162 levels with caution. Below 1.1162 faces a fall risk to 1.1100/1.1075 levels before the next move.

Support: 1.1162, 1.1100, 1.1075, 1.1015, 1.0975. 1.0930

Resistance: 1.1218, 1.1282, 1.1333, 1.1369, 1.1410

Forex Daily Forecast Aug 09 2019-EURUSDGBPUSD: Faces Fall Risk Below 1.2140 Levels.

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 levels before another fall.

According to the 4- hour chart, the pair is under pressure below 1.2140 levels. Stability below this level will challenge 1.2100 levels. Below 1.2100 pave the way to 1.2050/1.2000 levels. Above 1.2140 will turn the focus on 1.2175/1.2220 levels.

Support: 1.2142, 1.2100, 1.2000, 1.1900, 1.1800

Resistance: 1.2220, 1.2285, 1.2370, 1.2480, 1.2570

Forex Daily Forecast Aug 09 2019-GBPUSDUSDJPY Bearish Despite Recovery Attempts!

As long as 106.60 resistance holds on a daily closing basis. The USDJPY remains on the downside to 105.87/105.35 levels. Above 106.60 sees recovery threats to 107.25/107.70 before the next fall…

Support: 105.87, 105.30, 104.63, 103.95, 103.15

Resistance:106.60, 107.25, 107.70, 108.17, 108.75

Forex Daily Forecast Aug 09 2019-USDJPYAUDUSD: Consolidates With Downside Bias!

As long as 0.6755 support holds on a daily closing basis. The AUDUSD sees limited recovery below 0.6850 levels where fall resumption is very likely. Anyway; below 0.6755 aims the 0.6675 levels. Furthermore, support comes at 0.6666 levels. On the upside, above 0.6850 will extend the corrective recovery to 0.6885/0.6920 levels.

Support: 0.6755, 0.6666, 0.6600, 06540, 0.6485

Resistance: 0.6820, 0.6850, 0.6885, 0.6920, 0.6960

Forex Daily Forecast Aug 09 2019-AUDUSDUSDCAD: Bullish But Hesitates Ahead Of 1.3340 levels.

As long as 1.3200 support holds on a daily closing basis. The USDCAD remains on the upside to 1.3340 levels. A halt is likely before attempts to break above 1.3340 levels. Anyway; above 1.3340 aims 1.3410 levels. Furthermore, resistance comes at 1.3550 levels.

On the downside, below 1.3200 level will suggest short-term top and pave the way to 1.3115/1.3055 levels.

In conclusion: The USDCAD consolidates above 1.3200 levels before the next bullish move. Below 1.3200 sees pullback threats to 1.3115/1.3055 levels.

Support: 1.3200, 1.3115, 1.3055, 1.3015, 1.2930, 1.2862

Resistance: 1.3275, 1.3340, 1.3410, 1.3487, 1.3550, 1.3617

Forex Daily Forecast Aug 09 2019-USDCAD

 

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