Forex Daily Forecast Sept 08 2017

 EURUSD Bullish Eyes The 1.2166 Levels...GBPUSD, Bullish But Around Critical Resistance 1.3165...USDJPY Bearish, Eyes The 107.35 Levels...XAUUSD Bullish Eyes Further Upside...WTI Crude Remains Bullish With Risk To The 50.15 Levels...

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 EURUSD Bullish Eyes The 1.2166 Levels

The EURUSD continued its bullish momentum yesterday, bottomed at the 1.1913 levels and topped at the 1.2058 levels. This development leaves the pair targeting the 1.2166 levels, a halt is likely but a break would open 1.2300 levels, further upside, resistance comes at the 1.2450 levels ahead of the 1.2600 levels. On the downside, below 1.1913 will bring a corrective pullback to the 1.1773 levels. Conclusion: the pair remains bullish above the 1.1913 levels.

On the downside, below 1.1913 will bring a corrective pullback to the 1.1773 levels. Conclusion: the pair remains bullish above the 1.1913 levels.

Conclusion: the EURUSD continues to face upside threats above the 1.1913 levels.

Note: Minor support levels(4-H):1.1913, 1.1972, 1.2017 (4-H closing) above 1.2069 will pave the way to the 1.2166 levels…a rejection from 1.2069 will bring buying opportunities on dips…


GBPUSD, Bullish But Around Critical Resistance 1.3165 

As long as 1.3115/1.3060 support holds on a 4-hour closing basis, the GBPUSD remains bullish with risk towards the 1.3165 levels. At this point, I’d expect a strong resistance from the 1.3165 levels( high of Aug 04 2017) to contain current upside move and bring reversal, however; a sustained breakout above 1.3165 levels (daily closing) will extend gains to the 1.3225 levels, further upside resistance comes at the 1.3318 levels.

On the downside, support comes at the 1.3115 levels (broken resistance turned support) below that will turn the focus on the 1.3060/1.3030 levels. below that level will suggest a short term topping and bring a corrective pullback to the 1.2920 levels.

Conclusion: The GBPUSD continues to face upside threats above 1.3030/1.3060 levels…

Note: U.K Manufacturing Production at 08:30 GMT may bring a buying opportunity…


 

USDJPY Bearish, Eyes The 107.35 Levels

As long as 109.25 resistance holds on a daily closing basis, the pair remains on the downside towards the 107.35 levels, a halt is likely but a cut would open 106.40, further down support comes at the 105.40 levels.

On the upside, above 109.25 sees a corrective recovery to 109.55/111.00 levels where another fall is likely…

Conclusion: The USDJPY continues to face downside threats below the 109.25 levels. (minor resistance 108.20)…


XAUUSD Bullish Eyes Further Upside!

As long as 1344 support holds on a daily closing basis, the XAUSD remains bullish with risk to the 1352 levels, a break would open 1364 levels, further upside, resistance comes at the 1375 levels ahead of 1393 levels.

On the downside, below 1344 sees a pullback risk to the 1331/1325 levels before the next rising, below 1325 will extend the corrective pullback to the 1299/1291/1283 levels…


WTI Crude Remains Bullish With Risk To The 50.15 Levels…

As long as 47.62 support holds on a daily closing basis, the WTI Oil remains bullish with risk towards the 50.44 levels, a halt is likely and a reversal may occur from here, but a breakthrough that level will extend gains towards the 51.32 levels, further upside resistance comes at the 51.94 levels ahead of the 52.69 levels.

On the downside, below 47.62 sees a fall risk to the 50.80levels ahead of the 44.40/42.59 levels.

Conclusion: The WTI Oil continues to face upside threats above 47.62 levels in the short term forecast…

Note: Below 48.90 on a 4-hour closing basis would open main support at 47.62 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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