EURUSD
The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Overall I remain bullish as price is still convincingly moves above the EMA 200 and the trend line support as you can see on my H4 chart below, but price is still in a bearish correction phase testing 1.1285 support area. Immediate resistance is seen around 1.1425. A clear break and daily close above that area could end the bearish correction phase testing 1.1500 – 1.1530 region. On the downside, a clear break and daily close back below 1.1285 would expose 1.1180 region but key support remains at 1.1080. Fundamental focus will be on the US NFP data on Friday.
GBPUSD
The GBPUSD was indecisive yesterday but overall still able to maintain its bearish short term bias after the rejection to move above 1.3050 key resistance as you can see on my H4 chart below. The bias remains bearish in nearest term testing 1.2900 – 1.2875. A clear break below 1.2875 would expose 1.2815/00 region. Immediate resistance is seen around 1.3000. A clear break above that area could lead price to neutral zone in nearest term retesting 1.3050 key resistance which is a good place to sell with a tight stop loss as a clear break above that area would activate my bullish mode. Fundamental focus will be on the US NFP number on Friday.
USDJPY
The USDJPY attempted to push lower yesterday bottomed at 112.74 but closed higher at 113.27. The bias remains bullish in nearest term testing 114.30 region. Immediate support is seen around 112.75/60 area. A clear break below that area could lead price to neutral zone in nearest term testing 112.00 region or lower but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 114.30 would expose 115.50 region. Fundamental focus will be on the US NFP number on Friday.
USDCHF
The USDCHF was indecisive yesterday but overall still able to maintain its bullish correction bias after bounced off 0.9550 support area. The bias remains bullish in nearest term testing 0.9675. A clear break above that area could trigger further bullish pressure testing 0.9765. Immediate support is seen around 0.9600. A clear break below that area could lead price to neutral zone in nearest term testing 0.9550 – 0.9450 key support area which remains a good place to buy with a tight stop loss below 0.9450 as a clear break below that area would expose 0.9250 region.
