Daily Technical Analysis

EURUSD Outlook

The EURUSD was in critical situation yesterday. The pair attempted to push higher, topped at 1.3383 but further bullish scenario was rejected as the pair whipsawed to the downside, hit the bottom at 1.3192 and closed at 1.3228. On h4 chart below we can see that the pair attempted to breakout from the triangle but failed before moved back significantly to the downside. The bias is bearish in nearest term testing 1.3100 support area but remains neutral in medium term. Immediate resistance is seen at 1.3265 area. Break above that area could trigger further upside scenario. CCI in neutral area both in h4 and daily chart.

EURUSD Daily Supports and Resistances:

S1= 1.3152
S2= 1.3076
S3= 1.2961
R1= 1.3343
R2= 1.3458
R3= 1.3534

GBPUSD Outlook

We had a volatile market yesterday. The pair attempted to push higher, topped at 1.4940 but further bullish scenario was rejected as the pair whipsawed to downside, hit the bottom at 1.4705 and closed at 1.4788. The bias is neutral both in nearest and medium term. Immediate support is seen at 1.4705 (yesterday's low). Break below that level could trigger further bearish scenario towards 1.4600 area. CCI in neutral area both on h4 and daily chart.

GBPUSD Daily Supports and Resistances:

S1= 1.4682
S2= 1.4576
S3= 1.4447
R1= 1.4917
R2= 1.5046
R3= 1.5152

USDJPY Outlook

The reason why I like candlestick is because it is quiet simple but very powerful. After we saw a hammer on April 28, the pair had 2 days of bullish momentum. The bias remains bullish but we seem to have good resistance around 98.97 area. Break above that area could trigger further bullish scenario targeting 99.70 area. Immediate support is seen at 98.25 area. CCI in overbought area and heading down on h4 chart so watch out for a potential minor downside pullback.

USDJPY Daily Supports and Resistances:

S1= 97.51
S2= 96.40
S3= 95.67
R1= 99.35
R2= 100.08
R3= 101.19

USDCHF Outlook

The USDCHF attempted to push lower yesterday. The pair bottomed at 1.1270 but further bearish scenario was rejected as the pair whipsawed to the upside, hit the top at 1.1431 and closed at 1.1403. On h4 chart below we have a hammer formation appeared before the bullish movement indicating a potential bullish scenario. The bias is bullish in nearest term testing 1.1515 area but remains neutral in medium term. Immediate support is seen at 1.1370/50 area. Break below that area could trigger further bearish momentum. CCI in neutral area both on h4 and daily chart.

USDCHF Daily Supports and Resistances:

S1= 1.1305
S2= 1.1207
S3= 1.1144
R1= 1.1466
R2= 1.1529
R3= 1.1627

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