The EURUSD had another insignificant movement yesterday but keeps making lower highs and lows on daily chart since Monday. The bias is neutral in nearest term probably with a little bearish bias testing the lower line of the bearish channel and 1.0450 support area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 1.0570. A clear break above that area could trigger further bullish pressure testing the upper line of the bearish channel and 1.0630 area which is a good place to sell. Fundamental focus will be on the ECB press conference. Overall I remain neutral.
The GBPUSD continued its bearish momentum yesterday bottomed at 1.2138. Price keeps making lower highs and lows since Monday as you can see on my daily chart below with key resistance is seen at 1.2300 region challenging 1.2000 key support. The bias is bearish in nearest term testing 1.2100 – 1.2080 region. Immediate resistance is seen around 1.2215. A clear break above that area could lead price to neutral zone in nearest term testing 1.2300 area. Overall I remain neutral.
The USDJPY had a moderate bullish momentum yesterday topped at 114.75. The bias is bullish in nearest term testing 115.60 region which remains a good place to sell. Immediate support is seen around 114.20. A clear break below that area could lead price to neutral zone in nearest term testing 113.50 region. As long as stay below 115.60 I still prefer a bearish scenario and any upside pullback should be seen as a good opportunity to sell.
The USDCHF didn’t make significant movement yesterday. The bias remains neutral in nearest term. Immediate support is seen around the lower line of the bullish channel and 1.0070 area which is a good place to buy with a tight stop loss as a clear break below the bullish channel would end the current bullish phase testing 1.0000 region or lower. On the upside, 1.0200 remains a key resistance and good place to sell with a tight stop loss. Overall I remain neutral.