EURUSD
The EURUSD had another indecisive movement yesterday. The bias is neutral in nearest term probably with a little bullish bias but as long as stay below 1.0750 price is still in a bearish phase as a part of the “shooting star” bearish scenario (daily chart) targeting 1.0600 region. A clear break and daily close below that area would expose 1.0500 area. On the upside, a clear break and daily close above 1.0750 would expose 1.0825/73 area. Fundamental focus this week will be on the FOMC meeting minutes and US NFP number which expected to be a catalyst to move the market. Overall I remain neutral.
GBPUSD
The GBPUSD continued its bearish momentum yesterday bottomed at 1.2419. As you can see on my H1 chart below price broke below the bullish channel and moved back below the H1 EMA 200 suggests a potential short-term bearish view. The bias remains bearish in nearest term testing 1.2375. A clear break and daily close below that area would expose 1.2300 or lower. Immediate resistance is seen around 1.2470. A clear break above that area could lead price to neutral zone in nearest term testing 1.2515 area. Fundamental focus this week will be on the FOMC meeting minutes and US NFP number which expected to be a catalyst to move the market.Overall I remain neutral.
USDJPY
The USDJPY attempted to push lower yesterday bottomed at 110.26 but closed higher at 110.73. Price formed another “hammer” formation after a rejection to break below 110.10 key support as you can see on my daily chart below suggests an intense struggle between buyers and sellers around that key level. The bias is neutral in nearest term probably with a little bullish bias testing 111.30. A clear break and daily close back above that area would expose 112.00 or higher. On the downside, a clear break and daily close below 110.10 would expose 108.50 region this week and establish a longer term bearish trend with 111.30 – 112.00 as key resistance. Fundamental focus this week will be on the FOMC meeting minutes and US NFP number which expected to be a catalyst to move the market.
USDCHF
The USDCHF had another indecisive movement yesterday. The bias is neutral in nearest term. Immediate resistance is seen around 1.0060. A clear break and daily close above that area would expose 1.0120 or higher. Immediate support is seen around 0.9990. A clear break and daily close below that area would expose 0.9950 or lower. Fundamental focus this week will be on the FOMC meeting minutes and US NFP number which expected to be a catalyst to move the market.Overall I remain neutral.
