EURUSD
The EURUSD was indecisive yesterday. The bias is neutral in nearest term probably with a little bullish bias after price bounced-off the lower line of the bearish channel testing the upper line as you can see on my H1 chart below, located around 1.1800/50 area. Immediate support is seen around 1.1725. A clear break below that area could trigger further bearish pressure testing 1.1670 key support which is the “neckline” of the “head and shoulders” formation on daily chart. A clear break below 1.1670 would confirm the bearish reversal scenario with nearest target seen at 1.1450. On the upside, key resistance remains at 1.1900 which need to be clearly broken to the upside to potentially nullify the “head and shoulders” bearish reversal scenario and resume the major bullish trend testing 1.2000 – 1.2090.
GBPUSD
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term probably with a little bullish bias testing 1.3300/30 resistance area. Immediate support is seen around 1.3150. A clear break and daily close below that area could trigger further bearish pressure testing 1.3087/00 region. Overall I remain bullish but need a clear break above 1.3330 key resistance to reactivate my bullish mode targeting 1.3615 region.
USDJPY
The USDJPY closed lower yesterday at 113.43 after gapped higher at 113.86 but still able to stay above 113.20 key support so far. The bias is neutral in nearest term. Immediate resistance is seen around 113.75. A clear break above that area could trigger further bullish pressure testing 114.50 region which is a good place to sell with a tight stop loss as a clear break above that area would expose 115.50 region. On the downside, a clear break back below 1113.20 would expose 112.85 or lower. Overall I remain neutral.
USDCHF
The USDCHF printed a bearish pin bar formation yesterday as you can see on my daily chart below. The bias is neutral in nearest term. I still prefer a bullish scenario at this phase but need a clear break above 0.9881 to nullify the bearish pin bar scenario targeting 0.9950 area. Immediate support is seen around 0.9830. A clear break below that area could trigger further bearish pressure testing 0.9765 area.
