EURUSD
The EURUSD was indecisive yesterday. Price is moving sideways between 1.1265 – 1.1175 as you can see on my H1 chart below suggest a consolidation phase. The bias is neutral in nearest term. Immediate support is seen around 1.1175 – 1.1150 (H1 EMA 200). A clear break below that area could trigger further bearish pullback testing 1.1075 but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy. On the upside, we need a clear break above 1.1265 to continue the bullish scenario targeting 1.1300 – 1.1350 area.
GBPUSD
The GBPUSD attempted to push higher yesterday, topped at 1.3013 but closed lower at 1.2940 and hit 1.2866 earlier today in Asian session. Price broke below the trend line support as you can see on my H1 chart below suggests a bearish correction phase targeting 1.2830 – 1.2780 key support area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.2925/50. A clear break above that area could lead price to neutral zone in nearest term testing 1.3000 – 1.3050 key resistance area.
USDJPY
The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term but as long as price stay below the trend line resistance (see my H4 chart below) and 112.00 area I still prefer a bearish scenario at this phase targeting 108.00 region. Immediate support is seen around 111.46 (yesterday’s low). A clear break below that area could trigger further bearish pressure testing 111.00 or lower. On the upside, 112.00 region remains a key resistance and good place to sell with a tight stop loss as a clear break above that area would nullify the bearish bias.
USDCHF
The USDCHF was indecisive yesterday. The bias is neutral in nearest term but overall price is still in a bearish phase as a part of the false breakout scenario as you can see on my H4 chart below with nearest target seen at 0.9650. Immediate resistance is seen around 0.9780 – 0.9815 area which remains a good place to sell with a tight stop loss.
