forex forecast for 23 sep 2013

forex forecast for 23 sep 2013

eur/usd daily forecast

EUR/USD currency pair trading at 1.3526 with loss for today.trading in very narrow range and showing signs of correction.intraday high of euro around 1.3536 while low was near 1.3519.here 1.3550 is look like top and traders with stoploss above it keep short open for target 1.3490-1.3380 on downside in intraday to positional.indicators also showing correction signs.

gbp/usd daily forecast

GBP/USD currency pair trading at 1.6017 with gains for today.in intraday uk pound made high near 1.6030 while low was near 1.6012.on daily chart trend is bullish but momentum side looks overbought.here top is already formed near 1.6140 and from here now expect correction towards support levels.on downside expect 1.5900-1.5840 on correction.

usd/jpy daily forecast

USD/JPY currency pair trading at 99.11 with loss for today.in intraday yen made high near 99.29 while low was near 99.08.here trend is bullish but momentum is losing out.but still above 98.7 keep long view for target 100-102 on upside.

usd/chf daily forecast

USD/CHF currency pair trading at 0.9111 with gains.in intraday swiss franc made high near 0.9123 while low was near 0.9102.here after sharp fall now showing bounce back signs.so on downside 0.9080 bottom remain as stoploss for this opportunistic long trade and on upside 0.9225 will be first target zone.

usd/cad daily forecast

USD/CAD currency pair trading at 1.0294 with loss.in intraday canadian dollar made high near 1.3040 while low was near 1.2897.here trend and momentum both bearish on chart for this pair as dollar is soft.but already formed bottom near 1.0215 so keep buy on dips view with stoploss below this level and expect bounce back rally upto 1.0350 as dollar showing appreciating on profit booking.

usd/sek daily forecast

USD/SEK currency pair trading at 6.3601 with gains for today.in intraday swedish krona made high near 6.3620 while low was 6.3517.here also trend and momentum is down for pair but bottom is already formed so go long for medium term with stoploss below 6.30 and expect upside rally upto 6.47 to 6.52 in few days.

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Pramod Baviskar

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