Forex Daily Forecast Aug 21 2019

EURUSD: Bearish Despite Recovery Attempts...GBPUSD: Recovers With Caution! USDJPY: Remains Neutral! AUDUSD: Consolidates Below 0.6830 Levels...USDCAD: Bullish Eyes Further Upside!

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EURUSD: Bearish Despite Recovery Attempts…

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 21 2019-EURUSDGBPUSD: Recovers With Caution!

As long as 1.2123/1.2063 support holds on a daily closing basis. The GBPUSD remains in a recovery mode and further upside couldn’t be ruled out to 1.2225 levels. A halt is likely, it may test 1.2178 before attempts to break above 1.2225 levels. Anyway; above 1.2225 aims the 1.2280 levels. Next resistance comes at 1.2450 levels.

On the downside, a clear break below 1.2063 paves the way to 1.2000 levels. Below that level opens the way to 1.1950/1.1900 levels…

In conclusion: The GBPUSD still faces recovery threats above 1.2063 levels.

Support: 1.2123, 1.2063, 1.2000, 1.1950, 1.1900, 1.1850

Resistance: 1.2178, 1.2225, 1.2280, 1.2350, 1.2380, 1.2450

Forex Daily Forecast Aug 21 2019-GBPUSDUSDJPY: Remains Neutral!

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 21 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, aims the 0.6675 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…

Support:0.6745, 0.6675, 0.6580, 06510, 0.6430

Resistance: 0.6830, 0.6900, 0.6955, 0.7000, 0.7080

Forex Daily Forecast Aug 21 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 21 2019-USDCAD

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