Forex Daily Forecast Aug 29 2019

EURUSD: Under Pressure Faces Fall Threats...GBPUSD: Still Faces Fall Risks...USDJPY: Recovers With Caution! AUDUSD Continues To Consolidate...USDCAD: Faces Pullback Threats...

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EURUSD: Under Pressure Faces Fall Threats…

The outlook in EURUSD has turned neutral at the moment with risk to the downside. Support comes at 1.1075 levels while resistance comes at 1.1097 level aheadĀ  1.1170 level (main).

On the downside, support comes at the 1.1075 level. A cut through support – daily closing basis – will restore the downside moment and pave the way to 1.1015 levels. Next support comes at 1.0975 level ahead of 1.0930 level.

On the upside, immediate resistance comes at 1.1097 levels. Above that level will release the bearish pressure and pave the way to 1.1170 levels. Anyway; a break of 1.1170 will extend the corrective recovery to 1.1218/1.1282 levels…

In conclusion: The EURUSD sees downside threats below 1.1097 levels with caution. A clear break below 1.1075 – daily closing- will resume the bearish trend and terminate the recovery mode completely. Stability above 1.1075 on a daily closing basis could mean a return to 1.1170 levels…

Support: 1.1075, 1.1015, 1.0975, 1.0930, 1.0860

Resistance: 1.1097, 1.1170, 1.1218, 1.1282, 1.1333

Forex Daily Forecast Aug 29 2019-EURUSDGBPUSD: Still Faces Fall Risks…

The GBPUSD remains in a pullback mode as long as trades below 1.2285 levels on a daily closing basis and further down couldn’t be ruled out. Immediate support comes at 1.2212 levels. A halt is likely but a cut would open 1.2166 next. Furthermore, support comes at 1.2116 level ahead of 1.2055 level.

On the upside, resistance comes at 1.2285 levels. A sustained breakout- daily closing – above that level will restore the upside momentum and extend gains to 1.2350/1.2380 levels. Next resistance comes at 1.2450/1.2505 levels.

In conclusion: The GBPUSD continues to face pullback threats below 1.2285 levels. Only a daily closing above that level will reverse risks to the upside to 1.2500 levels…

Note: Static daily chart resistance around 1.2285 has been rejected with a bearish divergence on the 4-hour chart. It’s a strong supply zone. It won’t fall quickly, probably It will rise quickly, then fall faster than its rise…Anyway: any rebound below 1.2285 is a selling opportunity…

Support: 1.2212, 1.2166, 1.2116, 1.2055, 1.2000

Resistance:1.2285, 1.2350, 1.2380, 1.2450, 1.2505

Forex Daily Forecast Aug 29 2019-GBPUSD_H4 Forex Daily Forecast Aug 29 2019-GBPUSDUSDJPY: Recovers With Caution!

As long as 104.63/105.00 support holds on a daily closing basis. The USDJPY remains in a recovery mode and further upside couldn’t be ruled out. Resistance comes at 106.20 levels. A break will extend the corrective recovery to 106.75/107.30 levels. Furthermore, resistance comes at 108.17/108.75 levels. On the downside below 104.63 will restore the downside momentum and aims the 109.95 levels.

Support: 105.40, 105.00, 104.63, 103.95, 103.33, 102.90

Resistance: 106.20, 106.75, 107.30, 108.17, 108.75

Forex Daily Forecast Aug 29 2019-USDJPYAUDUSD Continues To Consolidate..

The AUDUSD is neutral at the moment. Support comes at 0.6720 levels while resistance comes at 0.6830 levels. On the downside, below 0.6720 level paves the way to 0.6660 levels. Next support comes around 0.6600 levels. On the upside. Above 0.6830 sees recovery threats to 0.6875 levels. Next resistance comes at 0.6925 levels.

Support: 0.6720, 0.6660, 0.6600, 0.6550, 0.6500

Resistance: 0.6830, 0.6875, 0.6930, 0.7000

Forex Daily Forecast Aug 29 2019-AUDUSDUSDCAD: Faces Pullback Threats…

As long as 1.3320/1.3350 resistance holds on a daily closing basis. The USDCAD remains in a pullback mode, and further down could be seen to 1.2740/1.2700 levels. A halt is likely, it may turn higher from here. Anyway, below 1.2700 will extend the corrective pullback to 1.3115 levels. Furthermore, support comes at 1.3055 levels. On the upside, above 1.3350 will restore the upside momentum and pave the way to 1.3410/1.3487 levels…

Support:1.3240, 1.3200, 1.3115, 1.3055, 1.3015, 1.2930,

Resistance: 1.3320, 1.3350, 1.3410, 1.3487, 1.3550, 1.3617

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