FX.co ★ Daily Trading Forecasts (September 28, 2012)

EURUSD: This pair is currently caught in a rally, quickly recovering the loss it has sustained this week. The resistance level at 1.2950 is being battled with, and it seems that the next target will be 1.3000.

USDCHF: USDCHF is now trying to give up some of its gains in the near-term. The support level at 0.9350 has already been broken to the downside - the next target is at 0.9300.

GBPUSD: What is happening on Forex market, is having an anticyclical effect on this pair, as it is coming down gradually. Eventually, the condition that affects EURUSD would determine the direction of the Cable.

EURJPY: EURJPY has found it difficult to go clearly below the psychological level at 100.00. It found a bottom around 99.50 and is now trying to rally towards 101.00.

USDJPY: Weak USDJPY reached a bottom at 77.50. It looks as if a further bearish move is about to be rejected. If this is true, the price would go back to the resistance level at 78.00, and if not, the support level at 77.50 would be tested again.