Majors Daily Forecast Oct 02 2017


EURUSD: Recovers With Caution, Support At 1.1743 Levels!

As long as 1.1743 support holds on a daily closing basis, the EURUSD remains in a recovery mode and further upside could be seen, but upside move should be limited by 1.1936 levels where another fall is likely, above 1.1936 will extend recovery to the 1.2059 levels…

On the downside, support comes at the 1.1743 levels, a daily closing back below that level will restore the downside momentum and open the 1.1670 levels, further down, support stands at the 1.1585 levels ahead of the 1.1478 levels.

Conclusion: The EURUSD continues to face recovery threats above the 1.1743 levels…


GBPUSD: Bearish Eyes The 1.3265 levels.

The GBPUSD maintained a bearish momentum last Friday, topped at 1.3443 levels and bottomed at the 1.3349 levels. This development leaves the pair targeting the 1.3265 levels, a halt is likely and a reversal may occur (if seen resistance comes at the 1.3349 levels) but if this fails to occur, expect the pair to weaken further to the 1.3147 levels, further downside, support comes at the 1.3041 levels.

On the upside, immediate resistance comes at the 1.3443 levels, a break will turn outlook neutral for retesting the 1.3615 levels before another fall…

Conclusion: The GBPUSD continues to face downside threats below the 1.3443 levels …


USDJPY: Bullish DespiteĀ Recent Hesitation!

as long as 112.20 support holds on a daily closing basis, the USDJPY remains on the upside to 113.95 levels, a halt is likely but a break would open 114.87 levels, further upside resistance comes at the 116.33 levels ahead of the 117.42 levels.

On the downside, support comes at the 112.20 levels, below that level sees a pullback risk to the 111.09 levels, further down, support comes at the 110.25 levels.

Conclusion: The USDJPY continues to face upside threats above the 112.20 levelsā€¦