Majors Daily Forecast Oct 13 2017

blank

EURUSD: Consildates With Upside Bias!

The EURUSD remains on the upside as long as 1.1825/1.1795 support holds on a daily closing basis, resistance comes at the 1.1865 levels, a halt is likely and it may turn lower from here, however; if this fails to occur, the pair will aim the 1.1935 levels, further upside resistance stands at the 1.2005 levels ahead of the 1.2059 levels.

On the downside, a rejection from the 1.1865 levels could mean a return to the 1.1825 levels, a cut will look for the 1.1795 levels, below that level will aim main support at the 1.1738 levels, below 1.1738 may expose the 1.1670 levels

Conclusion: The EURUSD continues to face upside threats above the 1.1737 levels…

 Today the focus will be on U.S  inflation data as well as retail sales data, note that the weekly chart suggests possible closure around or below 1.31815 levels…

blankGBPUSD: Continues Recovery With Caution!

As long as 1.3225 support holds on a daily closing basis, the GBPUSD remains in a recovery mode and further upside could be seen, immediate resistance comes at the 1.3350 levels, a break will aim the 1.3442 levels where another fall is very likely, above that level will aim the 1.3615 levels.

On the downside, support comes at the 1.3225 levels, below that level should weaken recent recovery and turn the focus on the 1.3130 levels, further down will restore the downside momentum and aim the 1.3041 levels and possibly lower to the 1.2908 levels.

Conclusion: The GBPUSD continues to face recovery threats above the 1.3130/1.3225 levels.

blankUSDJPY: Short-Term Bearish But With Caution!

As long as 112.51 resistance holds on a daily closing basis, the USDJPY remains in on the downside to the 111.70/111.33 levels, a halt is very likely and it may turn higher from here but a cut below that level will aim the 110.25 levels, further down support stands at the 109.45/109.23 levels.

On the upside, resistance comes at the 112.51 levels, a break will aim the 113.20 levels, above that level will extend gains to the 113.95/114.00 levels, further upside resistance stands at the 115.00 levels.

Conclusion: The USDJPY continues to face downside threats below 113.20/112.51 levels with caution.

 

blank

MARKET DATA

UPCOMING ECONOMIC EVENTS