Daily Forex Forecast for June 13, 2017

EURUSD:

Expectation: Bearish to neutral

Target: 1.1080

The EURUSD pair was range bound yesterday. Looking at the charts, we expect this pair to remain bearish or range bound in the near term and the price could test the 1.1080 levels. Currently, the 1.1160 point is a support level for this pair. If the price drops below this level (and closes below it), then we can expect price to drop further and the next support at 1.1080 could be tested. You can aim to buy at the 1.1080 levels. The 1.1240 mark is a resistance level for this pair. If the price crosses the resistance level at 1.1240, then the next resistance at 1.1300 could be tested.

GBPUSD:

Expectation: Bearish

Target: 1.2500

Yesterday, the GBPUSD pair initially moved upwards and hit a peak of 1.2769, before turning downwards and closing at 1.2659. Trend analysis indicates that this pair is likely to remain bearish or range bound in the near term. The pair has a support at the 1.2630 region. If the price drops below this level (and closes below it), then we can expect price to drop further and test the 1.2500 region. You can aim to buy at the 1.2500 levels. This pair currently has a resistance area at the 1.2700 levels. If the price closes above this level, then further bullish movement is possible and the price could move towards the 1.2780 levels.

USDJPY:

Expectation: Bearish

Target: 109.25

Yesterday, the USDJPY pair was bearish and hit a low of 109.63. Trend analysis indicates that this pair is likely to remain bearish or range bound in the near term and could test the 109.25 levels. This pair has a support around the 109.25 region. If the price closes below this point, then further bearish movement would be possible and the 108.00 level could be tested. You can aim to buy at these levels. Currently, the 110.50 mark is a resistance level for this pair. If this level is breached and the pair closes above this point, then price could test the 111.00 to 111.25 levels. You can aim to sell at these levels.

USDCHF:

Expectation: Bearish

Target: 0.9650

Yesterday, the USDCHF pair was largely range bound. This pair is likely to be bearish or range bound in the near term and could test the 0.9650 support levels. If this mark is breached and the pair closes below this level, then we could see further bearish momentum and the 0.9600 to 0.9550 level could be tested. The 0.9730 level is a resistance area for this pair currently. If the price closes above this level, then further bullish movement could be possible and the price could move towards the 0.9815 levels. You can aim to sell at this level.