Majors Daily Forecast Oct 03 2017

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EURUSD: Bearish Eyes The 1.1670 Levels.

The EURUSD continued its bearish momentum yesterday, topped at the 1.1814 levels and bottomed at the 1.1730 levels. This development leaves the pair targeting the 1.1670 levels, a halt is likely but a cut would open 1.1585, further down, support comes at the 1.1478 levels.

Ont he upside, immediate support comes at the 1.1730 levels, a failure to hold below the 1.1730 levels on a daily closing basis could mean a return to the 1.1814 levels where another fall is likely, however; above 1.1814 sees recovery threats to the 1.1936 levels.

Conclusion: The EURUSD continues to face downside threats below 1.1814 levels.

Notes:

1- A sustained breakout -daily closing -below 1.1730 will accelerate the expected bearish move.

2- Minor resistance comes at the 1.1760 levels.

3- Since Today is a holiday in Germany, the EURUSD may see rebound today “selling opportunity”.

GBPUSD: Under Pressure Eyes Further Downside!

As long as 1.3350 resistance holds on a daily closing basis, the GBPUSD remains on the downside to the 1.3205/1.3147 levels, a halt is likely but a cut would open 1.3041, further down, resistance comes at the 1.2908 levels.

On the upside, resistance comes at the 1.3350 levels, above that level sees a recovery threats to the 1.3450 levels where another fall is likely…

Conclusion: The GBPUSD continues to face downside threats below 1.3350 levels.

USDJPY: Bullish Despite 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 levels…

Note: Minor support comes at 112.62 levels.

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