EURUSD
The EURUSD gaps higher earlier today after Macron and Le Pen made it to the second round of French election, opened at 1.0903 but unable to stay consistently above 1.0873 – 1.0900 key resistance and traded lower around 1.0840 at the time I wrote this comment. From technical perspective as you can see on my daily chart below, if price close back below 1.0873 today, we may see another bearish pullback retesting the trend line support and 1.0650/00 region this week. I am not bullish yet on this pair, but a clear break and daily close above 1.0900 would expose 1.1000 – 1.1050 region. Overall I remain neutral.
GBPUSD
The GBPUSD had a bullish momentum last week topped at 1.2903 but closed a little bit lower at 1.2806. The bias is neutral in nearest term but as long stay above 1.2750 the double bottom bullish scenario should remain valid with nearest target seen at 1.3000 – 1.3050. On the downside, a clear break and daily close back below 1.2750 would interrupt the bullish scenario testing 1.2650 region.
USDJPY
The USDJPY gaps higher earlier today opened at 110.46 but traded lower around 110.00 at the time I wrote this comment after French election result. As you can see on my H1 chart below, price respecting the trend line resistance which keeps the major bearish trend remains valid. Immediate support is seen around 109.40. A clear break and daily close back below that area would expose 108.70 region. On the upside, a clear break and daily close above the trend line resistance and 110.50 could trigger further bullish pressure testing 111.00 area or higher.
USDCHF
The USDCHF gaps lower earlier today after French election, opened at 0.9904 but traded a little bit higher around 0.9940 at the time I wrote this comment. The bias is neutral in nearest term but as long as stay below 1.0020 price is still in a bearish phase testing 0.9880 and 0.9813 area. Immediate resistance is seen around 0.9965. A clear break above that area could trigger further bullish pressure testing 1.0020 which is a good place to sell with a tight stop loss. Overall I remain neutral.
