FX.co ★ Daily Trading Forecasts (September 21, 2012)

EURUSD: This week, EURUSD saw a significant bearish correction, though it seems this is coming to an end. The price is now testing the resistance level at 1.3000, and may continue going up if it succeeds in breaking it upwards.

USDCHF: Here, the bullish correction that started this week is not that noteworthy, but it is vivid. Further bullish correction was rejected at the accumulation level of 0.9350. The price would go down further if the price violates the accumulation level at 0.9300.

GBPUSD: This week, the equilibrium activity that happened on this pair was not that serious. The price has resumed its northward journey as the price has gone beyond the resistance level at 1.6250.

EURJPY: This cross fell by over 180 pips this week while correcting lower. The price has found a bottom at 101.00 and is trying to go up from there.

USDJPY: The bullish scenario that was formed earlier this week is now invalid. It looks as though this pair is poised for further bearish run. I would prefer to stay out of this market right now.