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EUR/USD: General analysis

Forex analytics: Current trend 
At the opening of trades European currency demonstrates negative dynamics trading at the level of1.3490. The daily chart shows that Euro continues trading in the sideways channel in the range of  100-120 points.
Many investors prefer to get rid of risky assets amid uncertain situation with the US public debt. There have been heated debates in the US Congress between Republicans …

News of the day

Forex analytics: The most important news for today comes from Canada and USA. The attention is drawn to the Canadian GDP data for July. Gross Domestic Product is a main indicator of the national economy state and consists of personal and government consumption expenditures, gross investments and net export of goods and services. According to experts the rate of GDP will rise by 0.6%. Such considerable growth has …

The LiteForex Company has presented the prize to the winner of the first stage of the contest “World Challenge”

LiteForex’s News: LiteForex team heartily congratulates Heri Susanto Sadri from Jakarta who became the winner of the first stage of the contest “World Challenge”! In the result of the raffle, which was held on 16.09.2013, he became a happy owner of Apple Iphone 5 64GB, thereafter the smart phone was sent to Indonesia to his new owner. We thank Heri Susanto Sadri for his active participation in the contest …

Forex: Ichimoku Clouds. Review of USD/CAD

Forex analytics: USD/CAD, H4
On the four-hour chart Tenkan-sen line is above Kijun-sen and they are both horizontal. Chinkou Span line is above the price chart; current cloud is ascending. Last week the pair has broken through the cloud from below, but then slowed down its rise and is now trading around Tenkan-sen line. The closet support level is Kijun-sen line (1.0305).  One of the previous maximums of Chinkou …

EURUSD Daily Forecast: September 30

EURUSD Forecast    

The EURUSD was indecisive last week. A quick look at the hourly/h4 chart shows a sideways/range condition between 1.3450 – 1.3560. The bias is neutral in nearest term. We need a clear break from the range area to see clearer direction. Although the bullish momentum is not as convincing as I had expected, overall I still prefer a bullish scenario at this phase with nearest target seen around 1.3600 – 1.3700. On the downside, a clear break below 1.3450 could interrupt the bullish outlook and could trigger further bearish correction testing 1.3400 – 1.3350.

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GBPUSD Daily Forecast: September 30

GBPUSD Forecast

The GBPUSD continued its bullish momentum last week and hit 1.6180 earlier today. The bias is bullish in nearest term testing 1.6200 – 1.6300. Immediate support is seen around 1.6120. A clear break below that area could lead price to neutral zone in nearest term testing 1.6060/50 but any downside pullback now is normal should be seen as a good opportunity to buy on dips.

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USDJPY Daily Forecast: September 30

USDJPY Forecast

The USDJPY had a bearish momentum last week and hit 97.65 earlier today. The bias is bearish in nearest term testing 97.00 – 96.70 which located around a trend line support as you can see on my daily chart below. Immediate resistance is seen around 98.40. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear testing 99.00 area.

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USDCHF Daily Forecast: September 30

USDCHF Forecast

The USDCHF was indecisive last week but overall still able to maintain its bearish bias so far. The bias is bearish in nearest term testing 0.9000. Immediate resistance is seen around 0.9070. A clear break above that area could lead price to neutral zone in nearest term testing 0.9100 – 0.9140 but any upside pullback now is normal and overall I still prefer a bearish scenario at this phase.

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EUR/USD Forecast September 30

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Good day forex traders and readers.

In the previous EUR/USD forecast we noted that the currency pair was bullish and an extended target would be the upper bollinger band. An area of caution would be any risk aversion should the tapering of the quantitative easing by the US Federal Reserve be started.

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Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair did achieve our extended bullish target. Congratulations to the readers that achieved it too.

The price action for the week was somewhat muted with the EUR/USD receiving significant bearish pressure. We will probably see more bearish defenders covering the resistance of 1.36.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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