Majors Monthly Forecast Apr 2016


EURUSD: As long as 1.0562/1.0863 support holds on a monthly closing basis, the EURUSD remains in a recovery mode in the long term forecast and further upside couldn’t be ruled out, but recovery above 1.0562 should be limited by the 1.1466/1.1713 levels where fall resumption is likely, above 1.1713 will have large bullish implication towards the 1.3129/1.3444 levels…Below 1.0562 will restore the downside momentum and open the 1.0000 levels…

Support: 1.0863, 1.0562, 1.0000

Resistance: 1.1466, 1.1713, 1.2041

Majors Monthly Forecast Apr 2016-EURUSD
As long as 1.4513 resistance holds on a monthly closing basis, long-term forecast in the GBPUSD remains neutral with risk to the downside towards the 1.3903 levels ahead of the  1.3655/1.3500 levels, above 1.4513 faces a recovery risk towards the 1.5238 levels before the next fall…

Support: 1.3903, 1.3655, 1.3500

Resistance: 1.4513, 1.4730, 1.5238

Majors Monthly Forecast Apr 2016-GBPUSD

USDJPY: As long as 116.12/121.48 resistance holds on a monthly closing basis, long term forecast in USDJPY remains on the downside towards the 110.99/105.43 levels, above 116.12 will open the main resistance 121.48, above 121.48 will suggest that fall from 125.84 is over, and a rise to 127.63 levels is likely…

Support: 110.99, 105.43, 100.74

Resistance: 116.12, 121.48, 127.63

Majors Monthly Forecast Apr 2016-USDJPY

USDCHF: As long as 0.9785 resistance holds on a monthly closing basis, the USDCHF remains in a pullback mode and further down couldn’t be ruled out towards the 0.9184/0.9022 levels, above 0.9785 will bring limited gains towards 1.0327/1.0621 levels.

Support: 0.9184, 0.9022, 0.8700

Resistance: 0.9785, 1.0327, 1.0621

Majors Monthly Forecast Apr 2016-USDCHF