EURUSD
The EURUSD failed to continue its bullish momentum yesterday slipped back below 1.1850 and hit 1.1825 earlier today in Asian session. This fact keeps the bearish correction phase remains intact. The bias is bearish in nearest term testing 1.1785. A clear break below that area could trigger further bearish pressure testing 1.1670 level, which from a different technical perspective is the neckline of a potential “head and shoulders” formation as you can see on my daily chart below. On the upside, 1.1900 remains a key resistance which need to be clearly broken to the upside to resume the major bullish trend testing 1.2000 – 1.2090 region.
GBPUSD
The GBPUSD attempted to push lower yesterday slipped below 1.3150 support area but whipsawed to the upside and closed higher at 1.3258, formed a bullish pin bar as you can see on my daily chart below. The bias is bullish in nearest term testing 1.3330 key resistance. A clear break and daily/weekly close above that area would end the bearish correction phase and resume the major bullish trend retesting 1.3615 area next week. Immediate support is seen around 1.3200. A clear break below that area could lead price to neutral zone in nearest term retesting 1.3150 support level. Overall I remain bullish.
USDJPY
The USDJPY had another indecisive movement yesterday. The bias remains neutral in nearest term. The bearish pin bar printed after a false break above 113.20 as you can see on my daily chart below still suggests a potential bearish pressure testing 111.65 region. A clear break below that area would expose 111.00 – 110.65 area. On the upside, a clear break and daily/weekly close above 113.20 would expose 114.50 or higher next week. Overall I remain neutral.
USDCHF
The USDCHF had another insignificant movement yesterday but hit another new weekly low at 0.9711. The bias remains bearish in nearest term testing 0.9700 – 0.9650 region. Immediate resistance remains around 0.9765. A clear break above that area could lead price to neutral zone in nearest term testing 0.9807/36 key resistance area. On the downside, a clear break and daily/weekly close below 0.9650 would expose 0.9590 – 0.9525 region next week. Overall I remain neutral.
