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Daily Technical Analysis

FX Instructor
By FX Instructor

EURUSD

The EURUSD was indecisive yesterday. Price traded lower earlier today in Asian session hit 1.0578. The bias is bearish in nearest term testing 1.0520/00 area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.0600/20 area. A clear break above that area could lead price to neutral zone in nearest term retesting 1.0680 key resistance. On the downside, a clear break and daily close below 1.0520/00 would expose 1.0400 – 1.0350 region. Overall I remain neutral.

GBPUSD

The GBPUSD had a moderate bullish momentum yesterday topped at 1.2482. The bias remains neutral in nearest term. Immediate resistance is seen around 1.2520. A clear break above that area could trigger further bullish pressure testing 1.2580. Immediate support is seen around 1.2435. A clear break below that area could trigger further bearish pressure testing 1.2380/40 area. Overall I remain neutral.

USDJPY

The USDJPY had a bullish momentum earlier today in Asian session hit 113.69. The bias is bullish in nearest term testing 114.00/30 area but overall I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 113.35. A clear break below that area could lead price to neutral zone in nearest term testing 112.65 area.

USDCHF

The USDCHF was indecisive yesterday. Price traded higher earlier today in Asian session hit 1.0060. The bias is bullish in nearest term testing 1.0100 area. Immediate support is seen around 1.0025. A clear break below that area could lead price to neutral zone in nearest term testing 0.9980 area or lower. Overall I remain neutral.

FX Instructor
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The information has been prepared for information purposes only. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. This information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXInstructor LLC assumes no responsibilities for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon this information. FXInstructor LLC does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXInstructor LLC shall not be liable for any indirect, incidental, or consequential damages including without limitation losses, lost revenues or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results

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