forex daily forecast for 5 sep 2013

forexdailyforecastfor5sep2013

forex daily forecast for 5 sep 2013

eur/usd daily forecast

EUR/USD currency pair trading at 1.3212 with gains for today.today euro made low near 1.3156 while high was near 1.3217 and trading near it.here trend is down but with todays reversal move momentum seems to building on long side.so watch for breakout above 1.3240 if trade above it then follow buy on dips view and expect 100-200 pips rally on upside.above 1.3240 short term trend also change bull side.

gbp/usd daily forecast

GBP/USD currency pair trading at 1.5640 with gains.in intraday pound pair made low near 1.5555 while high was 1.5647 and trading near it.here above 1.5530 expect rally to continue and traders must keep intraday trading strategy of buy and accumulate.on upside 1.5700-1.5800.below 1.55 we expect sharp correction.

usd/jpy daily forecast

USD/JPY currency pair trading at 99.61 with gains.in intraday yen made low at 99.32 while high was near 99.8.here trend and momentum is bullish for pair on account of weak yen.here above 98.25 is major average support and above this traders keep buying view for this pair.here we still expecting 100-102 as target on upside.

usd/chf daily forecast

USD/CHF currency pair trading at 0.9353 with loss.in intraday swiss frank made high near 0.9382 while low was near 0.9347 and trading near lows.here as dollar index going soft we may see some correction.but above 0.9320 average support trend still bullish only right now momentum showing signs of correction.above 0.93 traders can keep long view here.

usd/cad daily forecast

USD/CAD currency pair trading at 1.0484 with loss.today usdcad pair made high near 1.0541 while low was near 1.0475.here as us dollar index correct we seen profit booking.now trending towards support zone of 1.0460 and below that 1.0400 will be next support.on upside 1.0560 is strong resistance.on daily chart indicators also showing signs of correction in upcoming time.

usd/sek daily forecast

USD/SEK currency pair trading at 6.59 with loss for today.in intraday usdsek pair made high near 6.62 while low was near 6.59 and trading at it.here trend is bullish but momentum losing out as dollar index become soft.but above 6.55 major average zone traders keep buy on dips view and target still expected on upside at 6.70 to 6.84 in short to medium term view.6.57-6.56 will be re entry zone.

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Pramod Baviskar

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