Forex Daily Forecast Jul 10 2019

EURUSD Bearish But Hesitates Around Critical Support! GBPUSD Bearish Pressure Builds On1.2415 Levels. USDJPY Bullish Eyes The 109.00 Levels. AUDUSD: Bearish Risk Turns Lower To 0.6875 Levels. USDCAD Recovers With Caution!

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EURUSD Bearish But Hesitates Around Critical Support!

As long as 1.1225 resistance holds on a daily closing basis. The EURUSD remains on the downside to 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 the  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 Pressure Builds On1.2415 Levels.

As long as 1.2480 broken support turned resistance holds on a daily closing basis. The GBPUSD remains on the downside to 1.2415 levels. A halt is likely but a cut through support aims the 1.2355 levels. Next support comes at 1.2285 levels ahead of 1.2215 levels.

On the upside, resistance comes at 1.2480 levels. Above 1.2480 sees recovery threats to 1.2530/1.2555 levels. Next resistance comes at 1.2590 levels.

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

Support: 1.2480, 1.2415, 1.2355, 1.2285, 1.2215, 1.2155

Resistance: 1.2480, 1.2530, 1.2555, 1.2589, 1.2647

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 Risk Turns Lower To 0.6875 Levels

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

On the upside, above 0.6928 sees recovery threats to 0.6969/0.6990 levels. Next resistance comes at 0.7030 levels.

In conclusion: The AUDUSD sees downside threats below 0.6928 levels.

Support: 0.6928, 0.6875, 0.6850, 0.6800, 0.6750, 0.6700

Resistance: 0.6928, 0.6969, 0.6990, 0.7030, 0.7060, 0.7100

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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