Forex Daily Forecast Sept 02 2019

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EURUSD: Bearish Eyes Further Downside…

As long as 1.1015 – broken support turned resistance – holds on a daily closing basis. The EURUSD remains on the downside to 1.0975 levels. A break would open 1.00930 next. Furthermore, support comes at 1.0860 levels. On the upside, above 1.1015 sees a limited recovery to 1.1075/1.1097 levels. Above that level will extend the corrective recovery to 1.1170 before another fall.

In conclusion: The EURUSD remains exposed to the downside below 1.1170 levels. Only a sustained break above 1.1170 will turn outlook bullish “short-term” and pave the way to 1.1282 levels.

Support: 1.0975, 1.0930, 1.0860, 1.0812, 1.0765, 1.0730, 1.0640

Resistance: 1.1015, 1.1075, 1.1097, 1.1170, 1.1218, 1.1282, 1.1333

Forex Daily Forecast Sept 02 2019-EURUSDGBPUSD: Under Pressure But Around Critical Support!

The GBPUSD remains in a pullback mode as long as trades below 1.2285/1.2215 levels on a daily closing basis and further down couldn’t be ruled out. Immediate support comes at 1.2166 levels ahead of the 1.2117 levels. At this point, I’d expect strong support from/around 1.2117 levels to contain fall from 1.2300 levels and bring rebound. However; below 1.2117 will suggest that rise from 1.2014 is over at 1.2305 and a lower leg below 1.2014 is very likely.

On the upside, resistance comes at 1.2215 levels. A sustained breakout -daily closing- back above this level will bring limited recovery below 1.2285 levels. A clear break above 1.2285 is needed to restore the upside momentum. Otherwise, the risk for a return to the downside will remain intact…

In conclusion: The GBPUSD continues to face pullback threats below 1.2285/1.2215 levels. Only a daily closing above that level will reverse risks to the upside to 1.2500 levels…

Support: 1.2166, 1.2116, 1.2055, 1.2000, 1.1900

Resistance:1.2215, 1.2285, 1.2350, 1.2380, 1.2450

Forex Daily Forecast Sept 02 2019-GBPUSDUSDJPY: Light Bullish Eyes On 107.30 Level…

As long as 105.82 support holds on a daily closing basis. The USDJPY remains on the upside to 106.67/107.30 levels. A halt is likely, it may test 106.67 before attempts to break above 107.30 levels. Anyway; above 107.30 aims the 108.17 levels. Next resistance comes at 108.85 levels.

Considerations: a failure to hold above 106.67 level on a daily closing basis could mean a return to 105.82 levels…

On the downside, support comes at 105.82 levels. Below that level sees a corrective pullback test to 105.30/105.00 levels before another rise…

In conclusion: The USDJPY sees upside threats above 105.82 levels with caution…

Support: 105.82. 105.30, 105.00, 104.45, 103.95, 103.33, 102.90

Resistance: 106.67, 107.30, 108.17, 108.85, 109.59, 110.35

Forex Daily Forecast Sept 02 2019-USDJPYAUDUSD Continues To Consolidate..

The AUDUSD is neutral at the moment. Support comes at 0.6720 levels while resistance comes at 0.6830 levels. On the downside, below 0.6720 level paves the way to 0.6660 levels. Next support comes around 0.6600 levels. On the upside. Above 0.6830 sees recovery threats to 0.6875 levels. Next resistance comes at 0.6925 levels.

Support: 0.6720, 0.6660, 0.6600, 0.6550, 0.6500, 0.6450

Resistance: 0.6780, 0.6830, 0.6875, 0.6930, 0.7000, 0.7045

Forex Daily Forecast Sept 02 2019-AUDUSDUSDCAD: Still Faces Pullback Threats…

As long as 1.3320/1.3350 resistance holds on a daily closing basis. The USDCAD remains in a pullback mode, and further down could be seen to 1.2740/1.2700 levels. A halt is likely, it may turn higher from here. Anyway, below 1.2700 will extend the corrective pullback to 1.3148/1.3115 levels. Furthermore, support comes at 1.3055 levels. On the upside, above 1.3350 will restore the upside momentum and pave the way to 1.3410/1.3487 levels…

Support:1.3240, 1.3200, 1.3148, 1.3115, 1.3055, 1.3015

Resistance: 1.3320, 1.3350, 1.3410, 1.3487, 1.3550, 1.3617

Forex Daily Forecast Sept 02 2019-USDCAD