EURUSD
The EURUSD didn’t make significant movement yesterday. The bias remains neutral in nearest term. Overall I remain bullish but price has been trapped between 1.2090 – 1.1823 range area for almost four weeks now. Immediate resistance is seen around 1.2000. A clear break and daily close above that area could trigger further bullish pressure testing 1.2100 – 1.2175 region. Immediate support is seen around 1.1915. A clear break and daily close below that area could trigger further bearish pressure retesting 1.1823 key support which remains a good place to buy with a tight stop loss as a clear break below that area would take the pair to a bearish correction zone.
GBPUSD
The GBPUSD was corrected lower yesterday after formed a double top formation as you can see on my H1 chart below, bottomed at 1.3464. The bias is neutral in nearest term probably with a little bearish bias testing 1.3400 support area but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy. Immediate resistance is seen around 1.3550. A clear break above that area could trigger further bullish pressure testing 1.3615 key resistance which need to be clearly broken to the upside to continue the bullish scenario targeting 1.3700 – 1.3750 region. On the downside, only a break below 1.3150 key support would nullify the major bullish bias.
USDJPY
The USDJPY continued its bullish momentum yesterday topped at 111.66. The bias remains bullish in nearest term testing 112.15 region. A clear break and daily close above that area would expose 113.10/50 region. Immediate support is seen around 111.00 area. A clear break below that area could lead price to neutral zone in nearest term testing 110.50 area or lower. My H4 chart bias is now neutral but clearly bullish at H1 chart. Overall I remain neutral.
USDCHF
The USDCHF was indecisive yesterday. The bias is neutral in nearest term probably with a little bearish bias testing 0.9565 – 0.9525 support area as a part of the bearish scenario after the appearance of the bearish pin bar on daily chart last week. Immediate resistance is seen around 0.9650. A clear break and daily close above that area could trigger further bullish pressure testing 0.9700 region or higher. On the downside, a clear break and daily close below 0.9525 would expose 0.9450 key support which remains a good place to buy.
