EURUSD
The EURUSD attempted to push lower yesterday bottomed at 1.1681 but closed higher at 1.1765 and hit 1.1789 earlier today in Asian session. We have a bullish pin bar formation at the trend line support as you can see on my daily chart below suggests a potential bullish scenario which could end the bearish correction phase. The bias is bullish in nearest term testing 1.1850. A clear break and daily close above that area would expose 1.1910 – 1.2000 region. Immediate support is seen around 1.1750. A clear break below that area could lead price to neutral zone in nearest term testing 1.1700 area but as long as stay above 1.1650 I still prefer a bullish scenario and any downside pullback should be seen as a good opportunity to buy.
GBPUSD
The GBPUSD was indecisive yesterday. Price bounced-off the trend line support and EMA 200 as you can see on my daily chart below suggests a potential bullish bias. Immediate resistance is seen around 1.2950. A clear break above that area could trigger further bullish pressure testing 1.3000 – 1.3030 region. On the downside, 1.2865 remains a key support and good place to buy with a tight stop loss as a clear break and daily close below that area would expose 1.2600 region. Overall I remain neutral.
USDJPY
The USDJPY failed to continue its bullish momentum yesterday, bottomed at 110.03 and hit 109.66 earlier today in Asian session. The bias is bearish in nearest term. Price revisits the trend line support (109.50) as you can see on my daily chart below, which is a good place to buy with a tight stop loss as a clear break below 109.50/00 could trigger further bearish pressure testing 108.15 area. Immediate resistance is seen around 110.21 (current high). A clear break above that area could lead price to neutral zone in nearest term testing 110.80 or higher. Overall I remain neutral.
USDCHF
The USDCHF attempted to push higher yesterday topped at 0.9765 but whipsawed to the downside, closed lower at 0.9657 and hit 0.9641 earlier today in Asian session. The bias is bearish in nearest term testing 0.9620 – 0.9550 support area. Immediate resistance is seen around 0.9700. A clear break above that area could lead price to neutral zone in nearest term but key resistance remains around 0.9765 – 0.9807 region which remains a good place to sell.
