Daily Forex Forecast for June 14, 2017

EURUSD:

Expectation: Bearish to neutral

Target: 1.1080

The EURUSD pair was range bound yesterday. Our forecast for this pair remains unchanged at this time. Trend analysis indicates that this pair will 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 bearish trend will change and the next resistance at 1.1300 could be tested.

GBPUSD:

Expectation: Bullish

Target: 1.2780

Yesterday, the GBPUSD pair moved upwards and hit a peak of 1.2756. Trend analysis indicates that this pair is likely to remain bullish or range bound in the near term. This pair currently has a resistance area at the 1.2780 levels. If the price closes above this level, then further bullish movement is possible and the price could move towards the 1.2900 levels. The pair has a support at the 1.2710 region. If the price drops below this level (and closes below it), then we can expect price to drop further and test the 1.2635 region. You can aim to buy at the 1.2635 levels.

USDJPY:

Expectation: Bearish

Target: 109.25

Yesterday, the USDJPY pair was range bound. 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 the bearish trend may change and 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.