Majors Daily Forecast Dec 15 2017

EURUSD: Bearish Despite Recovery Attempts! GBPUSD: Recovers With Caution! USDJPY: Around Critical Support! USDCHF: Remains In Pullback Mode!

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EURUSD: Bearish Despite Recovery Attempts!

As long as 1.1847 resistance holds on a daily closing basis, the EURUSD remains neutral with risk to the downside, support comes at the 1.1731 levels where a cut will aim the 1.1677/1.1622 levels, a halt is likely and it may turn higher from here, below 1.1622 sees a fall risk to the 1.1533/1.1478 levels. On the upside, above 1.1847 will recapture the 1.1936 levels, we might see hesitation around here but a break will pave the way for the 1.2005/1.2059 levels.

The EURUSD continues to face downside threats below the 1.1847 levels even in the case of a corrective recovery!

GBPUSD: Recovers With Caution!

The GBPUSD remains in a recovery mode as long as trades above the 1.3315 levels on a daily closing basis, resistance comes at the 1.3475 levels, a halt is likely but a break will pave the way to the 1.3550/1.3595 levels. On the downside, support comes at the 1.3380 levels ahead of the 1.3315 levels, a daily closing back below 1.3315 will restore the downside momentum and look for the 1.3209 levels where rebound is likely…

USDJPY: Around Critical Support!

The USDJPY remains in a pullback mode as long as trades below 113.55 levels on a daily closing basis, support comes at the 112.21 levels, a halt is likely and it may turn higher from here, but a cut through the 112.21 levels, will aim the 111.63/110.83 levels, further down, support comes at the 110.05 levels. On the upside, resistance comes at the 113.15/113.55 levels, above 113.55 will aim the 114.27/114.87 levels.

Minor resistance levels (4-H): 112.45, 112.78, 113.15

USDCHF: Remains In Pullback Mode!

As long as 0.9940 resistance holds on a daily closing basis, the USDCHF remains in a pullback mode and further down could be seen, but the pullback below 0.9940 should be contained well by the 0.9842 levels where rebound is likely, below that level sees a fall risk to the 0.9791/0.9755 levels. Above 0.9940 will restore the upside momentum and aim the 1.0017/1.0037 levels, further upside, resistance comes at the 1.0107 levels…

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