FX.co ★ Daily Trading Forecasts (September 10, 2012)

EURUSD: The EURUSD ended up rising by over 250 pips last week. The price is now above the level at 1.2800 and is expected to continue.

USDCHF: After some decisive battle between bulls and bears, this pair fell by more than 110 pips last week. The price is expected to reach the level of 0.9350 this week.

GBPUSD: The cable rose by over 160 pips last week, closing at 1.6008. A price level at 1.6100 is expected to be reached this week.

EURJPY: The EURJPY went up by 180 pips last week, as it closed at 100.28. This week if the present outlook continues to be valid, the price may reach the level of 101.00.

USDJPY: Based on the market fundamentals, this pair, which traded in some tight range, rose and fell last week. It touched the resistance level at 79.00, fell by almost 100 pips and almost reached the support level at 78.00. In correlation with other JPY pairs, the USDJPY is expected to rise this week.