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Daily Technical Analysis


EURUSD

The EURUSD attempted to push higher yesterday topped at 1.0615 but closed lower at 1.0576. The bias remains neutral in nearest term. Immediate resistance is seen around 1.0630 and the upper line of the bearish channel (see my H4 chart below) which is a good place to sell with a tight stop loss as a clear break above the bearish channel would expose 1.0700 – 1.0750 area. On the downside, 1.0500 – 1.0450 remains a key support and good place to buy with a tight stop loss. Fundamental focus will be on the US NFP number. Overall I remain neutral.

GBPUSD

The GBPUSD was indecisive yesterday but overall still able to maintain its bearish bias so far. The bias remains bearish in nearest term testing 1.2100 – 1.2000 region, which is a key support area and good place to buy with a tight stop loss below 1.2000 psychological support. Immediate resistance is seen around 1.2200. A clear break above that area could lead price to neutral zone in nearest term testing 1.2250 – 1.2300 region. Fundamental focus will be on the US NFP number. Overall I remain neutral.

USDJPY

The USDJPY continued its bullish momentum yesterday topped at 115.00 and hit 115.25 earlier today. The bias remains bullish in nearest term testing 115.60 key resistance which is a good place to sell with a tight stop loss as a clear break above that area would expose 116.50 or higher. Immediate support is seen around 114.75. A clear break below that area could lead price to neutral zone in nearest term testing 114.25/00 area. Fundamental focus will be on the US NFP number

USDCHF

The USDCHF attempted to push lower yesterday bottomed at 1.0091 but closed a little bit higher at 1.0121 after touched the lower line of my bullish channel as you can see on my H4 chart below. The bias is neutral in nearest term. Immediate support is seen around 1.0090. A clear break below that area would expose 1.0050 – 1.0000 region. Immediate resistance is seen around 1.0150 followed by 1.0200. Fundamental focus will be on the US NFP number. Overall I remain neutral.

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