Forex Daily Forecast Aug 23 2019

EURUSD: Bearish Risk Still Lower To 1.1015 Levels...GBPUSD: Outlook Remains Higher With Caution! USDJPY: Light Bullish With Caution! AUDUSD: Still Sideways But Faces Fall Risk...USDCAD: Consolidates With Upside Bias!

0
85
Forex -8989moneyopoi

EURUSD: Bearish Risk Still Lower To 1.1015 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 23 2019-EURUSDGBPUSD: Outlook Remains Higher With Caution!

The GBPUSD remains on the upside as long as 1.2225 broken resistance turned support holds on a daily closing basis. Resistance comes at 1.2280 levels. A halt is likely, it may top somewhere around here. Anyway; above that will extend the bullish move to 1.2350/1.2380 levels. Furthermore, resistance comes at 1.2450 level.

On the downside, immediate support comes at 1.2225 levels. A clear break below that level will turn the focus to the downside to 1.2166/1.2123 levels where another rising is likely.

In conclusion: The GBPUSD sees upside threats above 1.2225 levels with caution…

Support: 1.2225, 1.2166, 1.2123, 1.2063, 1.2000

Resistance:1.2280, 1.2350, 1.2380, 1.2450, 1.2505

Considerations:

1. The daily chart suggests possible pullback to 1.2166/1.2123 levels before the next move.

2. The 4-hour chart suggests consolidation within 1.2280/1.2225 range with the possibility to break lower.

3. The weekly chart suggests a possible weekly closing around 1.2178 levels.

4. A sustained breakout – daily closing- above 1.2280 will pave the way to 1.2380/1.2450 levels.

 

Forex Daily Forecast Aug 23 2019-GBPUSDUSDJPY: Light Bullish With Caution!

As long as 106.20 support holds on a daily closing basis, the USDJPY remains on the upside to 107.05 level. A halt is likely, it may test 106.60 before attempts to break higher. Anyway, Above 107.05 aims the 107.60 levels. Furthermore, resistance comes at 108.15/108.75 levels.

On the downside, support comes at 106.20 levels. A cut through support will turn the focus on the 105.65/105.00 levels. Below 105.00 sees a fall risk to 104.60/103.90 levels.

In conclusion: The USDJPY sees light bullish move above 106.20 in the short-term forecast.

Support: 106.20, 105.65, 105.00, 104.60, 103.90

Resistance:106.60, 107.05, 107.60, 108.15, 108.75

Forex Daily Forecast Aug 23 2019-USDJPYAUDUSD: Still Sideways But Faces Fall Risk…

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

Note: Momentum indicators on the daily chart show strong signs of weakness. Stability below 0.6785 (minor resistance) on a daily closing basis may bring a sudden fall below 0.6745 levels…

Forex Daily Forecast Aug 23 2019-AUDUSDUSDCAD: Consolidates With Upside Bias!

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 23 2019-USDCAD

MARKET DATA

UPCOMING ECONOMIC EVENTS