FX Forecast Today

EUR/USD

Resistance levels: 1.4280/1.4300/1.4350
Support levels: 1.4200/1.4150/1.4120

EUR/USD has recovered back towards 1.4280 Resistance and yesterday high earlier today Today focus will be on US Existing Home Sales numbers at 14:00 GMT The consensus is at 5.25 mln. If the number comes out at 5.0 mln or more negative a break above 1.4280 again may be seen for resuming the uptrend towards 1.4350 record high over the next trading sessions . On downside, if the number comes at 5.5 mln ease back towards first immediate Support around 1.4200 may be seen later today Below 1.4120 key Support reverses the bias for correction towards 1.4020 Look to buy on pullback for test towards 1.4350 over today and tomorrow

Strategy-neutral.

GBP/USD

Resistance levels: 2.0500/2.0540/2.0600/2.0655
Support levels: 2.0400/2.0280/2.0250

GBP/USD has risen back towards 2.0500 yesterday highs earlier today In longer term the uptrend remains intact for test towards 2.0600 and 2.0657 record high. A break above 2.0536-40 Resistance area is needed for further upmove towards 2.0657 record high On downside, stronger than expected numbers from USA may turn price back to first important Support around 2.0400 later today . Below may ease price further down towards 2.0280 key one again over the next couple of days.

Strategy-neutral.

USD/JPY

Resistance levels: 115.00/115.60/116.40
Support levels: 114.20/113.30/112.60

USD/JPY has eased back to 114.20 first Support earlier today .On downside, a break below 114.20 resumes the downtrend towards 113.30 over the next trading sessions and 112.60 in longer term. On the upside, if the 114.20 Support holds ( less possible) retest of 115.00 key Resistance may be seen later today on stronger than expected US fundamental data..

Strategy-neutral.

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