Daily Technical Analysis

EURUSD Outlook

The EURUSD attempted to push higher yesterday. After made a breakout to the upside from triangle formation, topped at 1.2813, the pair whipsawed to the downside and break the triangle to the downside. This fact should support the current bearish scenario continuation. The bias is on the downside testing 1.2333 area once again. Immediate resistance is seen at 1.2550 followed by 1.2602. Initial support at 1.2400. CCI in oversold area and about to cross -100 line up on hourly chart so watch out for a minor upside corrections.

EURUSD Daily Supports and Resistances:

S1= 1.2375
S2= 1.2254
S3= 1.2035
R1= 1.2715
R2= 1.2934
R3= 1.3055

GBPUSD Outlook

The GBPUSD made another indecisive movement yesterday. After attempted to push higher and topped at 1.5247, the pair whipsawed to the downside and closed at 1.4958. My model is mixed with neutral bias in nearest term but with downside bias in longer term. We should be aware of the rectangle pattern on hourly chart as a break to the downside could trigger a bearish continuation scenario. Immediate support is seen at 1.4899. A break to the downside could trigger further bearish scenario towards 1.4770 area.

GBPUSD Daily Supports and Resistances:

S1= 1.4824
S2= 1.4690
S3= 1.4479
R1= 1.5169
R2= 1.5380
R3= 1.5514

USDJPY Outlook

After corrected higher on Tuesday, yesterday the USDJPY continued it's ebarish scenario. The pair bottomed at 95.56 and closed at 95.75. We have a bearish price channel on hourly chart. My model is mixed with downside bias. Immediate resistance is seen at 96.20. Initial support at 95.30 followed by 94.75. CCI about to cross -100 line up on hourly chart so watch out for a minor upside corrections.

USDJPY Daily Supports and Resistances:

S1= 95.18
S2= 94.61
S3= 93.66
R1= 96.70
R2= 97.65
R3= 98.22

USDCHF Outlook

The USDCHF continued it's bullish scenario yesterday. The pair topped at 1.2145 and closed at 1.2125. We have a nice bullish price channel on hourly chart. The bias is still on the upside. Immediate support is seen at 1.2100 followed by 1.2080. Initial resistance at 1.2210 followed by 1.2338.

USDCHF Daily Supports and Resistances:

S1= 1.1995
S2= 1.1866
S3= 1.1791
R1= 1.2199
R2= 1.2274
R3= 1.2403

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