forex forecast for 3 sep 2013

forex forecast for 3 sep 2013

eur/usd daily forecast

EUR/USD currency pair trading at 1.3186 with loss for today.on daily chart euro trend and momentum down as trading below 3 month average levels and indicators also forming bearish divergence.for tomorrow keep stoploss above todays high of 1.3230 and expect targets of 1.3050 and below.

gbp/usd daily forecast

GBP/USD currency pair trading at 1.5533 with we seen high near 1.5595 while low was near 90 pips intraday range and on daily chart showing signs of bullish reversal after major with stoploss of 1.55 traders can go long or hold long for targets of 1.56 to 1.57.

usd/jpy daily forecast

USD/JPY currency pair trading at 99.35 with yen made low at 98.41 while high was near almost 100 pips rally and on daily chart bullish breakout above 3 month average.for short term view now above now 98.3 traders can expect 100-102 as upside targets.rsi already given buy signal while macd is confirming it.

usd/chf daily forecast

USD/CHF currency pair trading at 0.9345 with gains.on daily chart here also pair given bullish breakout on strong 0.9320 is usdchf pair 3 month average and now pair trading about it which strong buying volume.on global turmoil dollar index likely to spike up and today move is good for investment with short term view and 200-300 pips target on upside.on downside 0.9250 remain as stoploss for short term traders.

usd/cad daily forecast

USD/CAD currency pair trading at 1.0550 with bull run continue and as dollar index getting stronger rally will get buying momentum on every above weekly average while major month and 3 month averages are way down.above 1.58 we expect next major rally and long term breakout for target of 1.16.for day traders 1.0480 is support and stoploss must be below that and keep target at 1.58 and then 1.5950 on upside.

usd/sek daily forecast

USD/SEK currency pair trading at 6.60 with loss for usdsek pair made high near 6.63 while low was near trend and momentum is bullish and major correction must used for long accumulation.on upside we expecting 6.70 6.80 while on downside 6.55 is 3 month average support and stoploss for short term long positions will be 6.53.

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Pramod Baviskar

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