EURUSD
The EURUSD attempted to push lower yesterday but still unable to break below 1.1650 key support and closed higher at 1.1724. The bias is neutral in nearest term. Immediate support is seen around 1.1700. A clear break below that area could trigger further bearish pressure testing 1.1650 key support which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.1780 followed by 1.1850. Overall I remain bullish and price is still moving above the daily EMA 200 as you can see on my daily chart below but a clear break and daily/weekly close below 1.1650 would activate my neutral mode as deeper correction may take place next week. On the upside, we need a clear break and daily/weekly close at least above 1.1800 to potentially end the bearish correction phase targeting 1.1910 – 1.2000 region.
GBPUSD
The GBPUSD didn’t make significant movement yesterday. The bias is neutral in nearest term. Price is still trending lower in short term but still unable to break below the trend line support and 1.2865 key support area as you can see on my daily chart below, which remains a good place to buy with a tight stop loss as a clear break and daily/weekly close below the trend line support would expose 1.2600 region next week. Immediate resistance is seen around 1.2908 (yesterday’s high). A clear break above that area could trigger further bullish pressure testing 1.2950 or higher. Overall I remain neutral.
USDJPY
The USDJPY failed to continue its bullish momentum yesterday, bottomed at 110.03 and hit 109.66 earlier today in Asian session. The bias is bearish in nearest term. Price revisits the trend line support (109.50) as you can see on my daily chart below, which is a good place to buy with a tight stop loss as a clear break below 109.50/00 could trigger further bearish pressure testing 108.15 area. Immediate resistance is seen around 110.21 (current high). A clear break above that area could lead price to neutral zone in nearest term testing 110.80 or higher. Overall I remain neutral.
USDCHF
The USDCHF was indecisive yesterday. The bias is neutral in nearest term probably with a little bearish bias testing 0.9550 support area. Immediate resistance is seen around 0.9700 but key resistance remains at 0.9765 – 0.9807 which remains a good place to sell with a tight stop loss as a clear break above 0.9807 would activate my bullish mode. On the downside, a clear break and daily/weekly close below 0.9550 would expose 0.9450 key support area next week.
