Forex Daily Forecast Aug 20 2019

EURUSD: Bearish But Hesitates Ahead Of 1.1070 Levels...GBPUSD: Recovers With Caution! USDJPY Outlook Remains Neutral! AUDUSD: Consolidates Below 0.6830 Levels...USDCAD: Bullish Eyes Further Upside!

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EURUSD: Bearish But Hesitates Ahead Of 1.1070 Levels…

As long as 1.1105 resistance holds on a daily closing basis. The EURUSD remains on the downside to 1.1015 levels. A halt is likely, it may test 1.1070 levels before another leg down. Anyway; below 1.1015 aims the 1.0975 levels. Furthermore, support comes at 1.0930 levels.

On the upside, above 1.1105 sees recovery threats to 1.1135/1.1170 levels before another fall. Above 1.1170 would challenge the 1.1218 levels.

In conclusion: The EURUSD sees downside threats below 1.1105 levels. Above that level faces recovery threats to 1.1135/1.1170 levels.

Support: 1.1070, 1.1015, 1.0975, 1.0930, 1.0860

Resistance: 1.1105, 1.1135, 1.1170, 1.1218, 1.1282

Forex Daily Forecast Aug 20 2019-EURUSDGBPUSD: Recovers With Caution!

As long as 1.2082/1.2055 support holds on a daily closing basis. The GBPUSD remains in a recovery mode and further upside couldn’t be ruled out to 1.2160 levels. A halt is likely, but a break would extend the corrective recovery to 1.2220 levels. Furthermore, resistance stands at 1.2285 levels ahead of 1.2370 level.

On the downside, support comes at 1.2082 level ahead of 1.2055 level (main). Below 1.2055 would challenge the 1.2000 levels.  However; below 1.2000 paves the way to 1.1950/1.1900 levels ahead of 1.1850/1.1800 levels.

In conclusion: The GBPUSD sees recovery threats above the 1.2055/1.2082 levels with caution…

Support: 1.2082, 1.2055, 1.2000, 1.1950, 1.1900

Resistance: 1.2160, 1.2220, 1.2285, 1.2370, 1.2480

Forex Daily Forecast Aug 20 2019-GBPUSDUSDJPY Outlook Remains Neutral!

No change, the outlook in USDJPY remains neutral at the moment. Support comes at 105.02 levels while resistance comes at 106.96 levels. On the upside, above 106.96 will bring limited gains to 107.50 levels. A halt is very likely, it may turn lower from here. Anyway; above 107.50 will extend the recovery move to 108.15 ahead of 108.90 levels.

Alternatively; a failure to break and hold above 106.96 could mean a return to 106.00 level, next support comes at 105.50 levels. Below that level would challenge 105.00 levels.

In conclusion: The USDJPY sees sideways move with a potential to test 107.50 before the next falling.

Support: 106.50, 106.00, 105.50, 105.00, 104.60, 103.90

Resistance:106.96, 107.50, 108.15, 108.90, 109.60, 110.00

Forex Daily Forecast Aug 20 2019-USDJPYAUDUSD: Consolidates Below 0.6830 Levels…

As long as 0.6745 support holds on a daily closing basis. The AUDUSD remains in a recovery mode with caution. But the recovery above 0.6745 is supposed to be limited by 0.6830 levels. Above 0.6830 will extend the corrective recovery to 0.6900 levels. Next resistance comes at 0.6955. 

On the downside, support comes at 0.6745 levels, below 0.6745 restores the downside momentum 0.6745 level where a cut will pave the way to 0.6580 levels.

In conclusion: The AUDUSD continues to consolidate within 0.6745/0.6830 range before the next move…

Forex Daily Forecast Aug 20 2019-AUDUSDUSDCAD: Bullish Eyes Further Upside!

As long as 1.3270/1.3200 support holds on a daily closing basis. The USDCAD remains on the upside to 1.3350 levels. A halt is likely, it may test 1.3270 before attempts to break above 1.3350. Anyway, next resistance comes at 1.3410 levels ahead of 1.3487 level.

On the downside, support comes at 1.3270 ahead of 1.3200 (main). Below that level sees a fall risk to 1.3115 levels.

In conclusion: the USDCAD continues to face upside threats above 1.3200/1.3270 levels.

Support: 1.3270, 1.3200, 1.3115, 1.3055, 1.3015, 1.2930, 1.2862

Resistance: 1.3350, 1.3410, 1.3487, 1.3550, 1.3617, 1.3650

Forex Daily Forecast Aug 20 2019-USDCAD

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