EURUSD
The EURUSD was corrected lower yesterday bottomed at 1.1650. That is a normal corrective movement and overall I remain bullish. The bias is bearish in nearest term testing 1.1640 – 1.1580 support area which is a good place to buy with nearest target seen around 1.1875. Immediate resistance is seen around 1.1712. A clear break above that area could lead price to neutral zone in nearest term retesting 1.1776 region. On the downside, a clear break and daily/weekly close below 1.1580 and the trend line support would signal further bearish correction and activate my neutral mode.
GBPUSD
The GBPUSD attempted to push higher yesterday topped at 1.3159 but whipsawed to the downside and closed lower at 1.3062. The bias is bearish in nearest term testing 1.3000 area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.3100/25. A clear break above that area could lead price to neutral zone in nearest term but would keep the major bullish bias remain strong retesting 1.3159 or higher. Overall I remain bullish but a clear break and daily/weekly close below 1.3000 would signal further bearish correction next week.
USDJPY
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. Price has been moving sideways without clear direction this week. Immediate support is seen around 110.60. A clear break and daily/weekly close below that area could trigger further bearish pressure testing the trend line support and 109.50/00 support area next week which is a good place to buy. Immediate resistance is seen around 111.50/70 region. A clear break above that area would expose 112.75 region. Overall I remain neutral.
USDCHF
The USDCHF had a strong bullish momentum yesterday topped at 0.9661 and hit 0.9721 earlier today in Asian session. The bias is bullish in nearest term testing 0.9765 – 0.9807 resistance area which is s good place to sell. Immediate support is seen around 0.9650. A clear break below that area could lead price to neutral zone in nearest term testing 0.9595/50 area. Overall I remain bearish but need a clear break at least back below 0.9550 to keep the bearish outlook remain strong.
