Forex Daily Forecast Jul 25 2019

EURUSD Remains Under Pressure!GBPUSD Bearish Despite Recovery Attempts...USDJPY Recovers With Caution! AUDUSD Extends The Corrective Pullback...USDCAD: Around Overbought Levels...

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Forex-EURO -659891

EURUSD Remains Under Pressure!

As long as 1.1162 -broken support turned resistance- holds on a daily closing basis. The EURUSD remains on the downside to 1.1127 levels ahead of 1.1080 levels. Above 1.1162 sees recovery threats to 1.1220 levels and possibly to 1.1282 levels.

Support: 1.1127, 1.1080, 1.1015, 1.0975. 1.0930

Resistance: 1.1162, 1.1190, 1.1222, 1.1282, 1.1330

Key/data events which may affect EURUSD today:

  • German Ifo Business Climate Index (Jul) at 08:00 GMT. The pair sees a selling opportunity in the case of a rebound below/around 1.1162 levels.
  • ECB Interest Rate Decision at 11:45, followed by ECB president Press Conference at 12: 30. We will talk about later today.

Forex Daily Forecast Jul 25 2019-EURUSDGBPUSD Bearish Despite Recovery Attempts

As long as  1.2403/1.2430 levels support holds on a daily closing basis. The GBPUSD remains in a recovery mode with a risk to 1.2523/1.2575 levels. Above that level will extend the corrective recovery to 1.2687/1.2748 levels. Below 1.2430/1.2403 restore the downside momentum and aims the 1.2357/1.2285 levels.

Support: 1.2430, 1.2403, 1.2357, 1.2285, 1.2220

Resistance: 1.2523, 1.2575, 1.2687, 1.2748, 1.2480

Forex Daily Forecast Jul 25 2019-GBPUSDUSDJPY Recovers With Caution!

As long as 107.70/107.93 support holds on a daily closing basis. The USDJPY sees recovery threats to 108.45/109.00 levels with caution. Below 107.70 will challenge the critical support 107.15. Furthermore will terminate the recovery mode completely and turn the focus back to the downside to 106.60/105.87 levels.

Support: 107.93, 107.70, 107.15, 106.60, 105.87, 105.32 

Resistance:108.45, 109.00, 109.59, 110.50, 111.50

Forex Daily Forecast Jul 25 2019-USDJPYAUDUSD Extends The Corrective Pullback..

As long as 0.7005 resistance holds on a daily closing basis. The AUDUSD remains in a pullback mode and further down is likely to 0.6955 levels where a cut will aim the 0.6925 levels. Above 0.7005 will retest 0.7045/0.7075 levels.

Support:0.6955, 0.6925, 0.6875, 0.6835, 0.6785

Resistance: 0.70050.7045, 0.7075, 0.7130, 0.7178 

Forex Daily Forecast Jul 25 2019-AUDUSDUSDCAD: Around Overbought Levels…

As long as 1.3015/1.3055 holds on a daily closing basis. The USDCAD sees recovery threats 1.3118/1.3150 (Overbought levels). Above 1.3150 (daily closing basis) is needed to prevent a return to the downside. If seen it aims 1.3188/1.3222 levels. Below 1.3118 should weaken the recent recovery, and aim 1.3055/1.3015 levels. Below 1.3015 sees a free fall to 1.2930/1.2860 levels.

Support: 1.3118,13088, 1.3055, 1.3015, 1.2930, 1.2860

Resistance:1.3150, 1.3188, 1.3222, 1.3280, 1.3340

Forex Daily Forecast Jul 25 2019-USDCAD

MARKET DATA

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