EURUSD
The EURUSD retreated lower yesterday bottomed at 1.0798. The “shooting star” formation on daily chart I showed you yesterday gave us a valid bearish pullback warning. The bias is bearish in nearest term testing the H1 EMA 200 and the trend line support (see my H1 chart below)located around 1.0785. A clear break below that area would expose 1.0725/00 region. Immediate resistance is seen around 1.0850. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 1.0905 would cancel the “shooting star” bearish reversal scenario targeting 1.1000 or higher. Overall I remain neutral.
GBPUSD
The GBPUSD had a strong bearish momentum yesterday bottomed at 1.2441 and hit 1.2375 earlier today in Asian session. As you can see on my H1 chart below, price broke below the bullish channel and H1 EMA 200 suggests a bearish view. The bias is bearish in nearest term testing 1.2300 area. Immediate resistance is seen around 1.2450. A clear break back above that area could lead price to neutral zone in nearest term testing 1.2500/30 region. Overall I remain neutral.
USDJPY
The USDJPY attempted to push lower yesterday bottomed at 110.17 but whipsawed to the upside and closed higher at 111.13. The “hammer” formation I showed you yesterday gave us a valid warning of a bullish pullback. The bias is bullish in nearest term especially if price able to make a clear break above 111.30 testing 112.00 or higher. On the downside, key support remains at 110.10. A clear break below that area would cancel the “hammer” bullish reversal scenario.
USDCHF
The USDCHF had a bullish momentum yesterday topped at 0.9935. Overall price is still in a bearish phase but the bias is bullish in nearest term testing 1.0000 resistance area which is a good place to sell with a tight stop loss. Immediate support is seen around 0.9900 – 0.9885 area. A clear break below that area could lead price to neutral zone in nearest term testing 0.9800 region. Overall I remain neutral.
