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Forex Daily Forecast Jul 15 2019

EURUSD: Recovers But Around Critical Resistance. GBPUSD: Recovery Continues! USDJPY: Faces Pullback Threats. AUDUSD: Bullish Risk Builds On 0.7070 Levels! USDCAD: Bearish Risk Shifts To 1.2930 Levels.

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EURUSD: Recovers But Around Critical Resistance

The EURUSD remains in a recovery mode as long as trades above 1.1250 levels on a daily closing basis. Resistance comes at 1.1282 levels. A halt is likely but a break would open 1.1330 levels. Next resistance comes at 1.1370 levels ahead of 1.1423 levels.

On the downside. Below 1.1250 should weaken recent recovery and turn the focus on the 1.1206/1.1190 levels. It may turn higher from here. A ut below support paves the way to 1.1162 levels ahead of 1.1127 levels.

In conclusion: The EURUSD sees recovery threats above 1.1250 levels with caution!

Support: 1.1250, 1.1206, 1.1190, 1.1162, 1.1127

Resistance: 1.1282, 1.1330, 1.1370, 1.1423, 1.1477

GBPUSD: Recovery Continues!

As long as 1.2500/1.2458 support holds on a daily closing basis. The GBPUSD remains in a recovery mode and further upside is likely. Resistance comes at 1.2590 levels. A halt is likely, it may turn lower from here. However; A break will extend the corrective recovery to 1.2630 levels where a break is possible. Next resistance comes at 1.2690 levels ahead of 1.2743 levels.

On the downside. Immediate support comes at 1.2500 levels. A daily closing back below this level should weaken the recent recovery. Below 1.2458 will terminate the recovery mode and turn the outlook bearish to 1.2357 levels. ( so 1.2500/1.2458 will serve as resistance). Furthermore aims the 1.2285 levels.

In conclusion: The GBPUSD sees recovery threats above 1.2458/1.2500 levels with caution…

Support: 1.2500, 1.2458, 1.2357, 1.2285

Resistance: 1.2590, 1.2630, 1.2690, 1.2743

USDJPY: Faces Pullback Threats.

As long as 108.45 resistance holds on a daily closing basis. The USDJPY remains in a pullback mode and further downside is likely. Support comes at 107.75 levels. A halt is likely. It may turn higher from here. However; Below 107.75 aims 107.15 levels. Next support comes at 106.60 levels.

On the upside. Resistance comes at 108.45 levels. A break will challenge 109.00 levels. That is to say, above 109.00 restores the upside momentum and paves the way to 109.60 levels. Next resistance comes at 110.50 levels.

In conclusion: The USDJPY faces pullback threats below 108.50 levels…

Support: 107.75, 107.15, 106.60, 105.87

Resistance: 108.45, 109.00, 109.59, 110.50

AUDUSD: Bullish Risk Builds On 0.7070 Levels!

The AUDUSD remains on the upside, as long as 0.7018 support holds on a daily closing basis. Resistance comes at 0.7070 levels. A halt is likely. It may turn lower from here. However; A break will extend the bullish move to 0.7130 levels. Furthermore, resistance comes at 0.7178 levels.

On the downside. Support comes at 0.7018 levels. Below 0.7018 sees a pullback threats to 0.6970 levels before another rise. Anyway; losing 0.6970 would challenge 0.6925 levels. After that, if 0.6925 fails to hold, expect more weakness to 0.6875 levels.

In conclusion: The AUDUSD sees upside threats above 0.7018 levels.

USDCAD: Bearish Risk Shifts To 1.2930 Levels.

As long as 1.3073 resistance holds on a daily closing basis. The USDCAD remains on the downside to 1.3015 levels. A halt is likely. It may test 1.3073 before the next fall. Anyway; Below 1.3015 aims 1.2930 levels. Next support comes at 1.2860 levels ahead of 1.2820 levels.

On the upside. immediate resistance comes at the 1.3073 levels (main). Above 1.3073 sees recovery threats to 1.3133 levels. A break will extend the corrective recovery to 1.3188/1.3222 levels.

In conclusion: The USDCAD sees downside threats below 1.3073 levels.

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