EURUSD
The EURUSD continued its bearish momentum yesterday bottomed at 1.0863. The bias remains bearish in nearest term testing 1.0850 key support which is a good place to buy with a tight stop loss as a clear break and daily close below that area would expose pre-gap level at 1.0730 and retesting the trend line support as you can see on my H1 chart below. Immediate resistance is seen around 1.0905. A clear break above that area could lead price to neutral zone in nearest term testing 1.0950 or higher. Overall I remain neutral.
GBPUSD
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Immediate resistance is seen around 1.0965. A clear break above that area could trigger further bullish pressure testing 1.3000 – 1.3050 area. Immediate support is seen around 1.2900. A clear break below that area could trigger further bearish pressure testing 1.2865 area which is a good place to buy with a tight stop loss. Overall I remain bullish based on the double bottom formation on daily chart after bounced off 1.2000 support in January 16.
USDJPY
The USDJPY continued its bullish momentum yesterday topped at 114.32. The bias remains bullish in nearest term testing 115.00 as a part of the bullish continuation scenario after broke above the trend line resistance as you can see on my H4 chart below. Immediate support is seen around 113.40. A clear break below that area could lead price to neutral zone in nearest term testing 112.90 support area which is a good place to buy with a tight stop loss.
USDCHF
The USDCHF continued its bullish momentum yesterday topped at 1.0090. Price broke above the trend line resistance as you can see on my H4 chart below suggests a bullish outlook. The bias remains bullish in nearest term testing 1.0170. Immediate support is seen around 1.0020. A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
