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Daily Technical Analysis

FX Instructor
By FX Instructor

EURUSD

The EURUSD attempted to push higher yesterday topped at 1.0658 but closed lower at 1.0591. The bias remains bearish in nearest term testing 1.0550 – 1.0500 area as a part of the bearish scenario after broke below the bullish channel and H4 EMA 200 as you can see on my H4 chart below. Immediate resistance is seen around 1.0650. A clear break above that area could lead price to neutral zone in nearest term testing 1.0700 area. Overall I remain neutral.

GBPUSD

The GBPUSD had a moderate bullish momentum yesterday topped at 1.2539. The bias is neutral in nearest term probably with a little bullish bias testing 1.2600 resistance area. Immediate support is seen around 1.2480. A clear break below that area could trigger further bearish pressure testing 1.2440/00 support area. Overall I remain neutral.

USDJPY

The USDJPY was indecisive yesterday. Price attempted to push higher topped at 114.16 but closed lower at 113.72 and hit 113.53 earlier today in Asian session. The bias is neutral in nearest term probably with a little bearish bias testing 113.00 – 112.85 support area. Immediate resistance is seen around 114.00. A clear break and daily close above that area could trigger further bullish pressure testing 115.60 key resistance which remains a good place to sell.

USDCHF

The USDCHF had a moderate bullish momentum yesterday topped at 1.0069. The bias remains bullish in nearest term testing 1.0100 – 1.0150 area. Immediate support is seen around 1.0040. A clear break below that area could lead price to neutral zone in nearest term testing 1.0000 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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