EURUSD
The EURUSD had a bullish momentum yesterday topped at 1.1583. The bias remains bullish in nearest term testing 1.1615 (weekly EMA 200 and 2016 high). A clear break above that area could trigger further bullish pressure testing 1.1712 area (2015 high). Immediate support is seen around 1.1510. A clear break below that area could lead price to neutral zone in nearest term testing 1.1470 area but as long as stay above 1.1285 key support I remain bullish and any downside pullback should be seen as a good opportunity to buy.
GBPUSD
The GBPUSD attempted to push higher yesterday topped at 1.3125 but whipsawed to the downside and closed lower at 1.3039, formed a bearish pin bar as you can see on my daily chart below. I still prefer a bullish scenario at this phase, but a bearish pin bar formed at a key resistance level (1.3100) is always a serious threat to a bullish run. The bias is bearish in nearest term testing 1.2950 region. On the upside, we need a clear break and consistent movement above 1.3100 to continue the bullish scenario targeting 1.3350 or higher. On the other hand, a clear break and daily close below 1.2950 would expose 1.2850/00 support area.
USDJPY
The USDJPY had a bearish momentum yesterday bottomed at 111.68. The bias remains bearish in nearest term testing 111.45 as a part of the bearish phase after formed a double top formation (114.50) and bearish pin bar as you can see on my daily chart below. A clear break and daily close below 111.45 would expose 110.25 support area and the trend line support. Immediate resistance is seen around 112.35. A clear break above that area could lead price to neutral zone in nearest term testing 112.75 region. Overall I remain neutral.
USDCHF
The USDCHF had a bearish momentum yesterday bottomed at 0.9523. The bias remains bearish in nearest term testing 0.9450 but note that 0.9550 – 0.9450 remains a key support and good place to buy with a tight stop loss below 0.9450. Immediate resistance is seen around 0.9580. A clear break above that area could lead price to neutral zone in nearest term testing 0.9630 area but key resistance remains at 0.9700 – 0.9756 region. On the downside, a clear break and daily close below 0.9450 would expose 0.9250 region.
