HomeContributorsTechnical AnalysisDaily Technical Analysis

Daily Technical Analysis


EURUSD

The EURUSD was indecisive last week. Price attempted to push lower bottomed at 1.0521 but closed higher at 1.0610. The bias is neutral in nearest term. Immediate support is seen around 1.0590. A clear break below that area could trigger further bearish pressure testing 1.0520/00 area. Immediate resistance is seen around 1.0680. A clear break and daily close above that area would expose 1.0750 – 1.0800 region. Overall I remain neutral.

GBPUSD

The GBPUSD didn’t make significant movement last week. The bias is neutral in nearest term. Immediate support is seen around 1.2385. A clear break below that area could trigger further bearish pressure testing 1.2350/25 area. Immediate resistance is seen around 1.2450. A clear break above that area could trigger further bullish pressure testing 1.2500 or higher. Overall I remain neutral.

USDJPY

The USDJPY attempted to push higher last week topped at 114.95 but whipsawed to the downside and closed lower at 112.87. The bias is bearish in nearest term testing 112.00 area. Immediate resistance is seen around 113.50. A clear break above that area could lead price to neutral zone in nearest term testing 114.00 area but overall I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

USDCHF

The USDCHF was indecisive last week. The bias is neutral in nearest term probably with a little bullish bias testing 1.0100 area. Immediate support is seen around 1.0000. A clear break below that area could trigger further bearish pressure testing 0.9950 area. As you can see on my H4 chart below, the double top scenario remains valid (1.0335) but price is still moving inside a bullish channel. We need a clear break below that bullish channel and 0.9950 support area to continue the bearish scenario. Overall I remain neutral.

FX Instructor
FX Instructorhttp://fxinstructor.com/en/
The information has been prepared for information purposes only. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. This information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXInstructor LLC assumes no responsibilities for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon this information. FXInstructor LLC does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXInstructor LLC shall not be liable for any indirect, incidental, or consequential damages including without limitation losses, lost revenues or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results

Featured Analysis

Learn Forex Trading