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Daily Technical Analysis

FX Instructor
By FX Instructor

EURUSD

The EURUSD had a bullish momentum yesterday after a false break below the bullish channel and 1.0650 key support as you can see on my H1 chart below. This fact keeps the bullish phase remains valid. The bias is bullish in nearest term testing 1.0850/75 region. Immediate support is seen around 1.0750. A clear break below that area could lead price to neutral zone in nearest term testing 1.0700 area but key support remains at 1.0650. Overall I remain neutral.

GBPUSD

The GBPUSD had a bullish momentum yesterday topped at 1.2596. The bias is bullish in nearest term testing 1.2670 area. Immediate support is seen around 1.2520. A clear break below that area could lead price to neutral zone in nearest term testing 1.2470 area. On the upside, a clear break and daily close above 1.2670 would expose 1.2790 key resistance. Overall I remain neutral but price is still in a bullish phase since bounced from 1.2000 psychological level.

USDJPY

The USDJPY continued its bearish momentum yesterday bottomed at 112.07. Price traded higher earlier today in Asian session hit 113.15. The bias remains bearish in nearest term testing 111.30. Immediate resistance is seen around 113.50. A clear break above that area could lead price to neutral zone in nearest term testing 114.00/20 region but as long as stay below 115.60 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

USDCHF

The USDCHF had a bearish momentum yesterday bottomed at 0.9861. The bias is bearish in nearest term testing 0.9800 area. Immediate resistance is seen around 0.9950. A clear break above that area could lead price to neutral zone in nearest term testing 1.0000 area. Overall I remain neutral but price is still in a valid bearish phase since fell from 1.0335 (double top).

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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