Majors Daily Forecast Oct 06 2017

EURUSD: Sees Further Bearish Momentum!

The EURUSD remains on the downside as long as 1.1814 resistance holds on a daily closing basis, support comes at the 1.1670 level, a halt is likely but a cut would open 1.1585, further down, support stands at the 1.1478 levels.

Ont he upside, immediate resistance comes at the 1.1730/1.1778 levels ahead of 1.1814 (main), above that level sees a recovery risk to the 1.1936 levels.

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

GBPUSD: Very Bearish Eyes Further Downside!

As long as 1.3147 – broken support turned resistance – holds on a daily closing basis, the GBPUSD remains on the downside to 1.3042 levels, a halt is likely and it may turns higher from here (if seen, resistance comes at the 1.3207 levels ahead of the 1.3250 levels), anyway; below 1.3042 sees a fall risk to the 1.2908 levels, further down, support comes at the 1.2795 levels.

On the upside, immediate resistance comes 1.3107/1.3147 levels, above 1.3147 sees a recovery risk to the 1.3250/1.3350 levels where another fall is likely…

Conclusion: The GBPUSD continues to face downside threats below 1.3147/1.3207 levels…

USDJPY: Bullish Eyes Further Upside!

as long as 112.20 support holds on a daily closing basis, the USDJPY remains on the upside to 113.20/113.95 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: above 113.20 will open 113.95 levels…

MARKET DATA

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