forex forecast daily 6 jun 2013

forex forecast daily 6 jun 2013


eur/usd forecast

euro dollar pair trading at 1.3054 with gains for today.this was 4 th gaining session for euro after breakout above short term traders must keep buy on dips view with stoploss below 1.30 and expect 1.3165 as first target spot for euro against dollar.momentum and trend indicators both are with buy signals on daily chart.on downside 1.2980 is last support on closing basis for euro with short term perspective.

gbp/usd forecast

pound dollar pair trading at 1.5399 with huge gains for we seen breakout above 3 month average and pound now entered bullish rally from short term view.on downside 1.5290 remain fresh entry zone while on upside 1.5520 to 1.5590 is resistance as well as target zone of this rally.1.5240 is last support from near term view for pound.

usd/jpy forecast

dollar yen pair trading at 99.26 with loss.on daily chart near major support and closing below 99 will confirm short term breakdown for dollar against yen.on indicators trend and momentum also near downside breakout for this pair.on upside 100.8 is strong resistance and below that hold sell on rise view for dollar.

usd/chf forecast

dollar franc pair trading at 0.9423 with loss.on daily chart trend and momentum is down for dollar as franc getting strength on below 0.9460 expect downtrend to continue and expect 0.9340 to 0.9265 as downside targets for this pair in short term.if close above 0.9460 then one can think to go long till then hold short view.

usd/cad forecast

us dollar vs canadian dollar pair trading at 1.0343 with loss.on daily chart trend and momentum still in favor of us dollar and after rally now showing consolidation pattern on daily chart.on downside 1.0290 and 1.0220 are major support and re entry levels for traders while on upside 1.0420 and then 1.0600 remain as upcoming targets for this pair.

usd/sek forecast

dollar krona pair trading at 6.5960 with gains.on daily chart look like taken support of 3 month average at 6.56 and now moving upside on buying spree.but on indicators trend and  momentum mixed so watch 6.56 closely as strong support here and above this hold long side view for targets 6.62 to 6.66.but if fall below 6.56 and trade below it for 1 session then downward cycle will start for dollar.

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Pramod Baviskar

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