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!

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-termĀ 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…

MARKET DATA

UPCOMING ECONOMIC EVENTS

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