EURUSD Forecast:
The EURUSD failed to continue its bullish momentum yesterday after-unable to break above the H4 EMA 200 resistance as you can see on my H4-chart below. Price is now retesting the trend line support which remains-a good support and place to buy with a tight stop loss as a clear break-below the trend line support and 1.0575 area would expose 1.0500 region-as a part of the bearish continuation scenario after the false break-above 1.0873. The bias is bearish in nearest term. Immediate resistance-is seen around 1.0650. A clear break above that area could lead price to-neutral zone in nearest term retesting the H4 EMA 200 and 1.0700-region. Overall I remain neutral.
GBPUSD Forecast:
The GBPUSD failed to continue its bullish momentum yesterday bottomed at-1.2500. The bias is bearish in nearest term testing 1.2480 support area-which is a good place to buy with a tight stop loss as a clear break-below that area would end the bullish phase after bounced off 1.2375 key-support, testing 1.2450/00 region. Immediate resistance is seen around-1.2520/35. A clear break above that area could lead price to neutral-zone in nearest term but would keep the bullish phase remains alive and-kicking retesting 1.2615 region. Overall I remain neutral.
USDJPY Forecast:
The USDJPY was indecisive yesterday formed a Doji formation as you can-see on my daily chart below. The bias is neutral in nearest term but-overall I remain bearish. Immediate resistance is seen around 109.40. A-clear break above that area could trigger further bullish pullback-testing 109.85 – 110.10 region which is a good place to sell. On the-downside, a clear break and daily/weekly close below 108.72 would expose-107.50 area or lower next week.
USDCHF Forecast
The USDCHF failed to continue its bearish momentum yesterday after-unable to make a clear break below 1.0020 key support, topped at 1.0067.-The bias is bullish in nearest term testing 1.0115 – 1.0170 area. On-the downside, 1.0020 remains a key support. A clear break below that-area would end the bullish phase testing 0.9970 or lower. Overall I-remain neutral.
