Forex Daily Forecast Jun 27 2019

Forex-big 65985

U.S Dollar Index: Bearish Despite Recovery Attempts.

No change, the U.S.Dollar Index remains on the downside, as long as 95.70 resistance holds on a daily closing basis. Support comes at the 95.30 levels ahead of 49.80 levels. Above 95.70 sees recovery threats to 69.00/96.67 levels before another fall. So the USD Index remains on the downside below 95.70 levels.

Hint: when USD Index goes down, EURUSD and GBPUSD go up, USDJPY goes down.

Support: 95.30, 94.80, 94.50, 94.05

Resistance:95.70, 96.00, 96.67, 97.12

Direction: bearish below 96.00

EURUSD: Continues Consolidating With Upside Bias!

As long as 1.1343 support holds on a daily closing basis. The EURUSD remains neutral with a risk to the upside. Resistance comes at 1.1400 levels. Above that level will restore the upside momentum and aim the 1.1430 levels. Next resistance comes at 1.1500 level ahead of 1.1575 level.

On the other hand, below 1.1343 sees corrective pullback threats to 1.1282 levels. If 1.1282 fails to hold. Consequently; more weakness is likely to the 1.1225 level ahead of 1.1180 level.

Note: Afailure to hold above 1.1400 levels on a daily closing basis could mean a return to 1.1343 levels.

In conclusion: The EURUSD consolidates with upside bias above 1.1343 levels.

Support: 1.1343,1.1282, 1.1225, 1.1160, 1.1125

Resistance: 1.1400, 1.1430, 1.1500, 1.1575, 1.1630

GBPUSD: Loses Upside Momentum, Vulnerable Below1.2706/1.2745 Levels

The outlook in GBPUSD remains neutral at the moment. Support comes at 1.2670/1.2640 levels. While resistance comes at 1.2745 levels. On the upside. A break above 1.2745 restores the upside momentum and aims the 1.2815 levels. Next resistance comes at the 1.2900 levels.

On the hand; A failure to hold above 1.2745 levels could mean a return to 1.2640 levels.  Below 1.2640 levels. Below 1.2640 sees pullback risk to 1.2540/1.2500 levels where a rebound is likely. Below1.2500 will extend the fall to 1.2415 levels.

In conclusion: The GBPUSD sees upside threats above 1.2640 levels With Caution.

Support: 1.2670, 1.2640, 1.2540, 1.2500, 1.2415

Resistance: 1.2745, 1.2815, 1.2900, 1.3000, 1.3055

Notes: On the 4-hour chart. The pair is under pressure, due to failure to break above  1.2707 levels. Consequently; A sustained breakout above that level is needed to restore the upside momentum. However; a failure to break and hold above 1.2707 level could mean a return to 1.2640 level, even may break lower!

As a result, trading GBPUSD still risky due to conflict between H4 & daily trend.

USDJPY: Bearish Despite Recovery Attempts!

The USDJPY remains on the downside as long as trades below 108.13 level. Support comes at 106.75 ahead of 106.25. Above 108.13 sees recovery threats to 108.80 ahead of 109.60 level. Anyway; a daily closing above 107.80 would challenge 108.13 levels (main).

In conclusion: The USDJPY remains on the downside below 108.13 levels.

Support: 107.15, 106.75, 106.25, 105.60, 105.15

Resistance: 107.80, 108.13, 108.80, 109.60

Direction: Bearish below 108.13

AUDUSD: Bullish bias Above 0.6928

The AUDUSD remains on the upside as long as trades above 0.6928 levels. Resistance comes at 0.7000 levels ahead of 0.7050 levels. Below 0.6928 sees a pullback threats to 0.6875/0.6830 levels. Therefore, the pair remains bullish above 0.6928 levels.

Support: 0.6928, 0.6875, 0.6830, 0.6750, 0.6715

Resistance: 0.6967, 0.7000, 0.7050, 0.7100, 0.7140

USDCAD: Bearish Eyes the 1.3075 levels.

The USDCAD remains on the downside as long as trades below 1.3150 levels on a daily closing basis. Support comes at 1.3075 ahead of 1.2975 levels. Above 1.3150 sees recovery threats to 1.3228 levels before another fall

In conclusion, the pair remains on the downside below 1.3150/1.3285 levels.

Support: 1.3075, 1.2975, 1.2870, 1.2790, 1.2700

Resistance: 1.3150, 1.3228, 1.3285, 1.3365, 1.3430

Direction: Downward below 1.3285 levels.