EURUSD
The EURUSD was indecisive yesterday. The bias is neutral in nearest term. The pair has been consolidating between 1.1285 – 1.1118 range area in the last two weeks and we need a clear break from the range area to see clearer direction. Overall I still prefer a bullish scenario but need a clear break above 1.1285 to continue the bullish scenario targeting 1.1350 – 1.1425 area. On the downside, 1.1080 area remains a key support and good place to buy with tight stop loss as a clear break below that area would interrupt the bullish scenario testing 1.0900 and the major trend line support as you can see on my H4 chart below.
GBPUSD
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Immediate resistance is seen around 1.2759 (yesterday’s high). A clear break above that area could trigger further bullish pressure testing 1.2815 which remains a good place to sell with a tight stop loss as a clear break and daily close above that area would expose 1.3000 – 1.3050 region. Immediate support is seen around 1.2705. A clear break below that area could trigger further bearish pressure testing 1.2675 but key support remains at 1.2635 which need to be clearly broken to the downside to continue the double top bearish scenario targeting 1.2500 region. Overall I remain neutral.
USDJPY
The USDJPY had a bullish momentum yesterday topped at 111.94 and hit 112.07 earlier today in Asian session. The bias is bullish in nearest term testing 113.00 area. Immediate support is seen around 111.60. A clear break below that area could lead price to neutral zone in nearest term testing 111.15 area but as long as stay above 110.65 price is still in a bullish phase after broke above the trend line resistance as you can see on my H4 chart below. Overall I remain neutral.
USDCHF
The USDCHF had a bullish momentum yesterday topped at 0.9738. The bias is bullish in nearest term testing 0.9765 – 0.9815 area which remains a good place to sell with a tight stop loss. Immediate support is seen around 0.9695. A clear break below that area could lead price to neutral zone in nearest term testing 0.9650 area. On the upside, a clear break above 0.9815 would end the bearish outlook testing 0.9900 or higher.
