EURUSD
The EURUSD had a bullish momentum yesterday topped at 1.0736 after bounced off the trend line support as you can see on my H4 chart above and now traded above the H4 EMA 200. The bias is bullish in nearest term testing 1.0825 before retesting 1.0873 key resistance which remains a good place to sell with a tight stop loss. Immediate support is seen around 1.0700. A clear break below that area could lead price to neutral zone in nearest term testing 1.0650 region. Overall I remain neutral.
GBPUSD
The GBPUSD surged higher to 1.2903 yesterday and closed at 1.2841, just above the daily EMA 200 (1.2780) as you can see on my daily chart above. From a daily chart perspective, the movement above the daily EMA 200 following a double bottom formation at 1.2000 psychological level suggests a valid bullish scenario. The bias is bullish in nearest term testing 1.3000 – 1.3050 area. Immediate support is seen around 1.2780. A clear break and daily close back below that area would interrupt the bullish scenario and reactivate my neutral mode.
USDJPY
The USDJPY had a bearish momentum yesterday bottomed at 108.31. This is a good sign for the bearish scenario, but note that as long as stay above 108.13, the hammer/pin bar bullish reversal warning remains valid. The bias is bearish in nearest term testing 108.13. A clear break below that area would expose 107.50 or lower. Immediate resistance is seen around 108.80. A clear break above that area could lead price to neutral zone in nearest term testing 109.20 area but key resistance remains at 110.10.
USDCHF
The USDCHF had a significant bearish momentum yesterday bottomed at 0.9955. The bias is bearish in nearest term. Price fell below the H4 EMA 200 as you can see on my H4 chart above suggests a bearish outlook testing 0.9880 before retesting 0.9813. Immediate resistance is seen around 1.0020. A clear break and daily close back above that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I remain neutral.
