Forex Daily Forecast Sept 04 2017

 EURUSD Pulls Back With Caution! GBPUSD, Short Term Bullish! USDJPY Sees Limited Gains! XAUUSD Bullish Eyes Further Upside! WTI Crude Oil Consolidates With Downside Bias!

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 EURUSD Pulls Back With Caution!

As long as 1.2015 resistance holds on a daily closing basis, the EURUSD remains in a pullback mode and further down could be seen towards the 1.1773 levels where rebound is likely, below that level will extend the corrective pullback towards the 1.1727/1/1670 levels, further down sees a free fall to the 1.1477 levels.

On the upside, above 1.12015 will restore the upside momentum and pave the way to the 1.2110 levels ahead of the 1.2210 levels, next resistance comes at the 1.2315 levels.

Conclusion: The EURUSD continues to face pull back threats below the 1.2015 levels…


GBPUSD, Short Term Bullish!

As long as 1.2872/1.2905 support holds on a daily closing basis, the GBPUSD remains bullish with risk towards the 1.3000 levels ahead of the 1.3060 levels, a halt is likely and a reversal may occur from here, but a breakthrough that level will extend gains towards the 1.3111 levels, further upside resistance comes at the 1.3165 levels ahead of the 1.3225 levels.

On the downside, below 1.2872 sees a fall risk below 1.2773 levels towards the 1.2715/1.2615 levels.

Conclusion: The GBPUSD continues to face upside threats above 1.2872 levels in the short term forecast…


USDJPY Sees Limited Gains!

As long as 109.55 support holds on a daily closing basis, the USDJPY remains bullish in short term forecast with risk to the 111.00 levels, a halt is likely and a reversal may occur, however; above that level sees a bullish move to the 111.95 levels, further upside, resistance comes at the 112.67 levels.

On the downside, below 109.55 sees a pullback risk to the 108.63 levels, below 108.63 will restore the downside momentum and open the way to the 108.00/107.20 levels…

Conclusion: The USDJPY continues to face upside threats in short term forecast…..Remeber The pair around weekly resistance… 


XAUUSD Bullish Eyes Further Upside!

As long as 1283/1291/1299 support holds on a daily closing basis the XAUUSD remains bullish with risk to the 1337 levels, further upside will target the 1252 levels ahead of the 1275 levels. Below 1283 sees a pullback risk to the 1258 levels before the next rising. (Note: Minor support 1325)…


WTI Crude Oil Consolidates With Downside Bias!

As long as 47.77 resistance holds on a daily closing basis, the WTI Oil remains on the downside to the 45.80 levels, a halt is likely but a cut would open 44.40 levels, further down, support comes at the 42.60 levels…

On the upside, above 47.77 will target the 49.26 levels, further upside, resistance comes at the 50.30 levels.

Conclusion: The WTI Oil continues to face downside threats below the 47.77 levels…

DONT Forget To Read This!

Forex Weekly Forecast Sept 04 2017

EURUSD, Faces Pullback Threats! As long as 1.1822 support holds on a weekly closing basis, the EURUSD remains on the upside in medium-term outlook with risk towards the 1.2069 levels, a halt is likely but a break will extend gains towards the 1.2569 levels where another fall is likely, above 1.2569 will pave the way […]

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