EURJPY Forecast
The EURJPY made another bullish attempt on Friday, topped at 126.67 but once again, further bullish momentum was rejected as price closed lower at 124.80. This fact should keep the bearish scenario intact targeting 124.50 area. Break below that area should trigger further bearish momentum targeting 122.10 area this week. Immediate resistance at 125.65. Break above that area should trigger further bullish momentum testing 126.89 area.
GBPJPY Forecast
The GBPJPY was closed lower on Friday and price is now traded below the triangle area indicating potential bearish view. The bias is bearish in nearest term targeting 142.00. Immediate resistance at 144.40 area. Break above that area should lead us into no trading zone in nearest term but I prefer a bearish scenario with sell on rallies strategy at this phase.
AUDUSD Forecast
The AUDUSD continued its bearish momentum on Friday, bottomed at 0.8846 and touched 0.8812 level earlier today in Asian session. This fact should keep the bearish scenario intact but we need a movement below 0.8810 area to continue the bearish scenario towards 0.8733 area. Immediate resistance at 0.8870 followed by 0.8910 area.
Source:Daily Forecast for Crosses: February 01
USDCHF Forecast
The USDCHF had a bullish momentum on Friday, topped at 1.0641 and closed at 1.0604. This fact should keep the bullish scenario intact targeting at least 1.0700 before aim for 1.0930 – 1.1000 area. However CCI just cross the 100 line down on h1 chart suggesting potential downside correction testing 1.0580 area. Break below that area should lead us into no trading zone but as long as price stay above 1.0507 I still prefer a bullish scenario.
Source:USDCHF Daily Forecast: February 01
After the economic data last week and the TD-MI inflation gauge this morning, I had moved into the ‘definite 25 bps rate rise’ camp and latest market reports suggestnearly 70% certainty that this will in fact occur.
Source:AUD: maybe a rate hike is not a foregone conclusion (The Forex Market)
FXstreet.com (Sydney) – The GBP has continued to weaken against the dollar slipping to 1.5938. The pair had earlier opened at 1.5947 though has been as low as 1.5934. The pair has since been operating within a narrow margin around 1.5942/44. The pair maintains downwards tendencies and is considered slightly bearish.
Source:Forex: GBP/USD consolidates losses and trades at 1.5938 (The Forex Market)
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