Forex Daily Forecast Jul 09 2019

EURUSD Bearish Eyes Further Downside...GBPUSD Bearish Risk Shifts To 1.2480 Levels. USDJPY Bullish Eyes The 109.00 Levels. AUDUSD: Bearish But Hesistaes Ahead Of 0.6928 Levels! USDCAD Recovers With Caution!

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Dollar Pound -698546

EURUSD Bearish Eyes Further Downside…

As long as 1.1225 resistance holds on a daily closing basis. The EURUSD remains under heavy pressure. Support comes at 1.1190 levels. A halt is likely, it may test 1.1225 before a lower leg below 1.1190. However; below 1.1190 targets 1.1160. A cut through 1.1160 aims theĀ  1.1127 levels.

On the upside. Above 1.1225 sees recovery threats to 1.1282 levels before the next fall. Above 1.1282 will extend the corrective recovery to 1.1330/1.1365 levels.

In conclusion: The EURUSD sees downside threats below 1.1225/1.1282 levels.

Support: 1.1190, 1.1160, 1.1127, 1.1082

Resistance: 1.1225, 1.1282, 1.1330, 1.1365

GBPUSD Bearish Risk Shifts To 1.2480 Levels.

As long as 1.2530 resistance holds on a daily closing basis. The GBPUSD remains on the downside to 1.2480 levels. A halt is likely but a cut through support aims the 1.2415 levels. Next support comes at 1.2355 levels ahead of 1.2285 levels.

On the upside, resistance comes at 1.2530 level ahead of 1.2555 levels. Above that level will extend the corrective recovery to 1.2589 levels.

In conclusion: The GBPUSD sees downside threats below 1.2530 levels…

Support: 1.2480, 1.2415, 1.2355, 1.2285

Resistance: 1.2530, 1.2555, 1.2589, 1.2647

Note: broken support will serve as resistance…

USDJPY Bullish Eyes The 109.00 Levels.

As long as 108.45 support holds on a daily closing basis. The USDJPY remains on the upside to 109.00 levels ahead of 109.59 levels. Below 108.45 sees a pullback threats to 107.75 levels before another rise.

Support: 108.45, 107.75 (main), 107.15, 106.60

Resistance: 109.00, 109.59, 110.35, 110.73

AUDUSD: Bearish But Hesistaes Ahead Of 0.6928 Levels!

As long as 0.6969/0.6990 resistance holds on a daily closing basis. The AUDUSD remains on the downside to 0.6928 levels. A halt is likely. It may test 0.6969 before another down. Anyway; below 0.6928 aims the 0.6875/0.6850 levels. Next support comes at the 0.6800 levels.

On the upside, above 0.6969/0.6990 would challenge 0.7030 levels. A break will reverse threats to the upside to 0.7060 levels ahead of 0.7100 levels.

In conclusion: The AUDUSD sees downside threats below 0.6969/0.6990 levels.

Support: 0.6928, 0.6875, 0.6850, 0.6800

Resistance: 0.6969, 0.6990, 0.7030, 0.7060

USDCAD Recovers With Caution!

The USDCAD remains in a recovery mode as long as trades above 1.3050 support on a daily closing basis. Resistance comes at 1.3150 levels. A halt is likely, it may turn lower from here. However; above 1.3150 will extend the corrective recovery to 1.3228 levels. Next resistance comes at 1.3285 levels.

On the downside, support comes at 1.3075/1.3050 levels. A cut below support will restore the downside momentum and aims the 1.2975 levels. Next support comes at 1.2870 levels.

In conclusion: The USDCAD sees recovery threats above 1.3050 levels.

Support 1.3050, 1.2975, 1.2870, 1.2790, 1.2700

Resistance: 1.3150, 1.3228, 1.3285, 1.3365

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