EURUSD
The EURUSD didn’t make significant movement yesterday. The bias remains neutral in nearest term. Price is still in a bearish phase after the false breakout above 1.1285 last week, but still respects the H4 EMA 200 and 1.1080 key support as you can see on my H4 chart below. Immediate resistance is seen around 1.1200. A clear break above that area could trigger further bullish pressure retesting 1.1285 key resistance which needs to be clearly broken to the upside to continue the bullish scenario targeting 1.1350 – 1.1425 area. On the downside, a clear break and daily/weekly close below 1.1080 would interrupt the bullish scenario testing 1.0900 and the major trend line support next week.
GBPUSD
The GBPUSD didn’t make significant movement yesterday. The bias remains neutral in nearest term. The double top bearish scenario remains valid and I still prefer a bearish scenario at this phase but needs a clear break below 1.2635 to continue the bearish phase testing 1.2500 area. Immediate resistance is seen around 1.2710. A clear break above that area could trigger further bullish pressure testing 1.2760 – 1.2815 region. Overall I remain neutral.
USDJPY
The USDJPY had another indecisive movement yesterday, formed another Doji on daily chart suggests a consolidation phase. The bias remains neutral in nearest term. Price is still in a bullish phase after broke above the trend line resistance as you can see on my H4 chart below but need a clear break above 111.78 – 112.00 key resistance area to continue the bullish phase targeting 113.00 area. On the downside, 110.65 remains a key support. A clear break below that area would interrupt the bullish outlook testing 110.00 or lower.
USDCHF
The USDCHF was indecisive yesterday. The bias remains bearish in nearest term testing 0.9695. A clear break below that area could trigger further bearish pressure testing 0.9650 region. Immediate resistance is seen around 0.9750. A clear break above that area could lead price to neutral zone in nearest term testing 0.9815 key resistance which remains a good place to sell with a tight stop loss as a clear break above 0.9815 would interrupt the bearish outlook testing 0.9900 region.
