Daily Forex Forecast September 15, 2017

EURUSD:

Expectation: Bullish to neutral

Target: 1.2000

Recommendation: Buy, with a target of 1.2000

Yesterday, the EURUSD pair was bullish and closed higher at 1.1918. Trend analysis indicates that this pair will remain bullish in the near term and the price could soon test the 1.2000 resistance levels. Currently, the 1.1870 point is the immediate support level for this pair. If the price drops below this level (and closes below it), then we can expect the bearish trend to resume and price to drop further and test the 1.1820 levels. The 1.2000 mark is a resistance level for this pair. If the price crosses this resistance level and closes above it, then the bullish trend will strengthen and price could test the 1.2175 resistance levels. You can aim to buy with a target of 1.2000.

GBPUSD:

Expectation: Bullish to neutral

Target: 1.3500

Recommendation: Buy, with a target of 1.3500

Yesterday, the GBPUSD pair moved sharply upwards and hit a peak of 1.3405. Looking at the trend lines, it is clear that this pair is currently in a bullish to neutral phase. This pair has a support at the 1.3330 region. If the price drops below this level (and closes below it), then we can expect the trend to turn bearish and price to drop further and test the 1.3265 levels.. Trend analysis indicates that this pair currently has a resistance area at the 1.3500 levels. If the price closes above this level, then the trend would turn strongly bullish, further bullish movement would be possible and the price could move towards the 1.3650 levels. You can aim to buy with a target of 1.3500.

USDJPY:

Expectation: Bearish to neutral

Target: 109.25

Recommendation: Sell, with a target of 109.25

The USDJPY moved lower yesterday and closed at 110.21. Trend analysis indicates that this pair is likely to remain bearish or range bound in the near term and could test the 109.25 support levels. This pair has a support around the 109.25 region. If the price closes below this point, then the trend will again become strongly bearish, further downward movement would be possible and the 108.70 level could be tested. Currently, the 110.50 area is a resistance level for this pair. If this level is breached and the pair closes above this point, then the trend would become strongly bullish and price could test the 111.00 level again. You can aim to sell with a target of 109.25.

USDCHF:

Expectation: Bearish to neutral

Target: 0.9585

Recommendation: Sell, with a target of 0.9585

Yesterday, the USDCHF pair moved lower and closed 0.9628. This pair is likely to be bearish in the near term and price could test the 0.9585 support levels again. You can aim to sell with a target of 0.9585. The 0.9700 level is the immediate resistance area for this pair currently. If the price closes above this level, then the trend will turn strongly bullish, further bullish movement would be possible and the price could move towards the 0.9810 levels. The 0.9585 level is the immediate support area for this pair. A clear break below this area would signal that the trend is strongly bearish again and price could then drop towards the 0.9450 levels and later, the 0.9400 levels.