Majors Daily Forecast Mar 02 2018

EURUSD, Bearish Despite Recovery Attempts! GBPUSD, Bearish But Hesitates Ahead Of The Key Support 1.3743...USDJPY, Bearish Eyes Further Downside!

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EURUSD, Bearish Despite Recovery Attempts!

As long as 1.2272 resistance holds on a daily closing basis, the EURUSD remains bearish with risk to the 1.2175 levels, a halt is likely but a cut will aim the 1.2088 levels ahead of the 1.2030 levels, further down, support comes at the 1.1915 levels.

On the upside, above 1.2272 sees a recovery risk to the 1.2336 levels where another fall is very likely, above 1.2336 will suggest a short-term bottom at the 1.2153 levels and turn the focus at the 1.2447/1.2554 levels.

Conclusion: The EURUSD continues to face downside threats below the 1.2336 levels in the short-term outlook…

Note: At the moment, short-term support comes at the 1.2272 levels, the current market price is around 1.2310…

GBPUSD, Bearish But Hesitates Ahead Of The Key Support 1.3743

As long as 1.3855/1.3915 resistance holds on a daily closing basis, the GBPUSD remains on the downside to the 1.3743 levels, a cut will aim the 1.3650 levels ahead of the 1.3530 levels. On the upside, above 1.3915 sees a recovery risk to the 1.4150 levels where another fall is suggested, above 1.4150 will pave the way to the 1.4260/1.4344 levels.

USDJPY, Bearish Eyes Further Downside!

As long as 106.36 resistance holds on a daily closing basis, the USDJPY remains on the downside to the 105.53 levels where a cut will aim the 104.30 levels, further down, support comes at the 102.55 levels. On the upside, above 106.36 sees a recovery risk to the 107.90/108.77 levels, next resistance comes at the 110.18/111.33 levels…

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