forex forecasts for 4 sep 2013

forex forecasts for 4 sep 2013

eur/usd daily forecast

EUR/USD currency pair trading at 1.3150 with loss for today.on daily chart euro trend and momentum is down and last 6 session we seen selling pressure and negative 1.3230 is euro dollar pair 3 month average and remain as stoploss and strong resistance on upside.on downside traders can expect 1.3050 to 1.3 as target in next 1-2 sessions.

gbp/usd daily forecast

GBP/USD currency pair trading at 1.5541 with intraday gbpusd pair made high near 1.5602 while low was near trend and momentum still strong for pound but traders must watch support of 1.5520 on downside below that correction will deep and may show 1.54 to 1.53.

usd/jpy daily forecast

USD/JPY currency pair trading at 99.51 with loss for usdjpy pair made high near 99.85 while low was near 99.16.almost touched 100 levels trend and momentum strong for dollar and yen also continue to remain weak on above 98.3 traders keep buy and accumulate view and expect targets of 100-102 on upside.

usd/chf daily forecast

USD/CHF currency pair trading at 0.9362 with intraday usd chf pair made high near 0.9382 while low was near trend and momentum bullish after yesterday bullish breakout above 3 month average.and on strong dollar index expect higher levels upto 0.94 and 0.95 in upcoming time.on downside 0.9320 is major support as well as 3 month average and stoploss must be below that.

usd/cad daily forecast

USD/CAD currency pair trading at 1.0532 with loss for usd cad pair made high near 1.0559 while low was near 1.0508.on chart trend and momentum is strong bullish and any major correction must used for on downside 1.0460 is month average and buy near it with stoploss and keep target at 1.0580 and then 1.06 on upside.

usd/sek daily forecast

USD/SEK currency pair trading at 6.6215 with intraday usd sek pair made low near 6.59 while high was near 6.62 and trading at after breakout at 6.54 pair heading towards previous highs of above 6.54 hold buy on dips view for target 6.70 and then longer term expect much larger targets here.

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Pramod Baviskar

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