FX.co ★ Daily Trading Forecasts (September 13, 2012)

EURUSD: The price is presently above the support level at 1.2900. The next resistance level is 1.2950, and if this is broken, the price would target 1.3000.

USDCHF: In this market, further bearish move was rejected at the accumulation territory situated at 0.9350. The price is trying to rally temporarily to the resistance level at 0.9400, but this could be what it is called - temporary.

GBPUSD: The price on this market has already been caught in an equilibrium zone as the cable tests the support level at 1.6100. If the support level proves valid, the price would test the resistance level at 1.6150.

EURJPY: The resistance level at 100.50 has been futilely tested by the price, as the Williams’ % Range is heading down from the oversold region. The psychological support level at 100.00 would allow the bulls to enter long at that level.

USDJPY: This is a bear market: the price is now threatening to go below 77.50. If this bearish propensity continues, the next target would be a demand zone at 77.00.