EURUSD
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. Price is still trending higher in short term, moving above the EMA 200 and a trend line support as you can see on my H1 chart below but from a daily chart perspective 1.0830 – 1.0873 resistance area also remains well-respected and good place to sell with a tight stop loss. Key intraday support is seen around 1.0725 located around the EMA 200 and the trend line support. A clear break and daily/weekly close below that area would end the current short term bullish trend. On the upside, a clear break and daily/weekly close above 1.0873 would activate my bullish mode next week targeting 1.1000 region.
GBPUSD
The GBPUSD had a bullish momentum yesterday topped at 1.2531. Price is still moving confidently inside the bullish channel and above the EMA 200 as you can see on my H1 chart below. The bias remains bullish in nearest term testing 1.2570 – 1.2600 region. Immediate support is seen around 1.2475. A clear break below that area could lead price to neutral zone in nearest term testing 1.2420 but only a clear break back below the EMA 200 (1.2380) would interrupt the current bullish phase. Overall I remain neutral.
USDJPY
The USDJPY was indecisive yesterday but overall still able to maintain its bearish bias. The bias is bearish in nearest term testing 110.25/00 region. As you can see on my daily chart below, price slipped below 111.30 key support but still struggling around the daily EMA 200 located around 111.00. So from a longer term daily chart perspective we may need to wait until price convincingly close below 111.30/00 to expect a deeper movement to the downside. On the other hand, any sustained pullback above 111.30 could trigger further bullish pressure testing 111.80 or higher.
USDCHF
The USDCHF didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term but price is still in a bearish phase after fell below the bullish channel as you can see on my H4 chart below targeting 0.9870 – 0.9800 support area. Immediate resistance is seen around 0.9975. A clear break above that area could trigger further bullish pullback testing 1.0015. Overall I remain neutral.
