EURUSD
The EURUSD had a bearish momentum yesterday bottomed at 1.1736. The bias remains bearish in nearest term testing 1.1670 key support, which is the “neckline” of a “head and shoulders” formation as you can see on my daily chart below. A clear break and daily close below 1.1670 would confirm the bearish reversal scenario with nearest target seen at 1.1450. Immediate resistance is seen around 1.1800. A clear break above that area could lead price to neutral zone in nearest term testing 1.1850 but key resistance remains at 1.1900 which need to be clearly broken to the upside to potentially resume the major bullish trend testing 1.2000 – 1.2090 region.
GBPUSD
The GBPUSD continued to trade lower yesterday bottomed at 1.3154. The bias remains bearish in nearest term especially if price able to make a clear break below 1.3150 testing the daily EMA 200 and the major trend line support located around 1.3000 – 1.2950 region. Immediate resistance is seen around 1.3225. A clear break above that area could lead price to neutral zone in nearest term testing 1.3285 area but key resistance remains at 1.3330 region which need to be clearly broken to the upside to reactivate my bullish mode.
USDJPY
The USDJPY was indecisive yesterday. Price attempted to push higher topped at 112.47 but closed a little bit lower at 112.18. The bias is neutral in nearest term probably with a little bearish bias testing 111.65 support area. A clear break and daily close below that area would expose 111.00 – 110.65 area. Immediate resistance is seen around 112.47. A clear break and daily close above that area would retest 113.20 key resistance area. Overall I remain neutral.
USDCHF
The USDCHF had a bullish momentum yesterday topped at 0.9808 but closed a little bit lower at 0.9783. The bias is bullish in nearest term but only a clear break back above 0.9807/36 key resistance would nullify the bearish pin bar scenario and activate my bullish mode with nearest target seen at 0.9950. Immediate support is seen around 0.9765/50. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish pin bar scenario alive and kicking testing 0.9700 area. Overall I remain neutral.
