Majors Daily Forecast Dec 22 2017

EURUSD, Consolidates With Upside Bias! GBPUSD: Continues To Consolidate! USDJPY: Still Faces Pullback Threats! USDCHF: Bearish Despite Recovery Attempts!

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EURUSD, Consolidates With Upside Bias!

As long as 1.1847 support holds on a daily closing basis, the EURUSD remains on the upside to the 1.1882 levels, a halt is likely and it may turn lower from here, but a break will aim the 1.1936 levels, above 1.1936 will pave the way to the 1.2059 levels. Ont he downside, below 1.1847 sees a pullback risk to the 1.1775/1.1731 levels before another rising, however; below 1.1731 sees further down to the 1.1677/1.1622 levels.

GBPUSD: Continues To Consolidate!

Outlook in GBPUSD has turned neutral, the pair is trapped within 1.3300/1.3475 levels, below 1.3300 sees a fall risk to the 1.3230 levels, a halt is very likely but a cut would open 1.3135 levels, next support comes at the 1.3040 levels. On the upside, above 1.3475 will pave the way to the 1.3550/1.3595 levels…

Minors resistance: 1.3380, 1.3425

USDJPY: Still Faces Pullback Threats!

1- A failure to hold above the 113.55 levels on a daily closing basis could mean a return to the 112.21 levels…

2- Minor support levels: 112.54, 113.07

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 113.55 levels, above 113.55 will aim the 114.27/114.87 levels.

 

USDCHF: Bearish Despite Recovery Attempts!

As long as 0.9916 resistance holds on a daily closing basis, the USDCHF remains on the downside to the 0.9800 levels, a halt is likely and it may turn higher from here, but a cut will aim the 0.7750/0.7708 levels. On the upside, above 0.9916 will reverse risk to the 0.9885/1.0037 levels…

A failure to hold below 0.8838 levels could mean a return to the 0.9816 levels, anyway; EURUSD & USDCHF: daily chart for both suggests possible sideways move…

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