Daily Trading Forecasts

There is a bullish signal on the USDJPY, and the pair may go towards the supply level at
98.50 and 99.00 respectively.

EURUSD: The bias on this pair is bullish and in spite of the current consolidation in the price, it is expected to resume its upwards journey. There is a strong support level at 1.3600 – a formidable check to any bearish threat. Meanwhile, the price can go towards the resistance level at 1.3700.

USDCHF: For now, it would be realistic to assume a short-term bearish target of 0.9000. The Bearish Confirmation Pattern on the chart remains a valid thing, and therefore a long trade is not recommended at this point. As long as the price remains under the EMA 56, it is not advisable to buy long.

GBPUSD: There has been a plan to set a Buy Limit order at 1.6100. The reasons are these: the overall bias is bullish, and the southward correction that is taking place right now is a good chance to buy cheaper. Moreover, there is a great accumulation territory at 1.6000 which most probably would be an obstacle to the bears.

USDJPY: There is a bullish signal on the USDJPY, and the pair may go towards the supply level at 98.50 and 99.00 respectively. The phenomenon on the chart is called a bullish effort because the price is above the EMA 56, and the RSI period 14 is above the level 50.

EURJPY: The price on this cross would easily touch the supply zone of 134.50, although the ultimate target is at the supply zone of 135.00. The northward trend on the chart is expected to be slow and steady, plus the demand zones at 134.00 and 133.50 would serve as barriers to bearish pulls.

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