EURUSD

The EURUSD continued its bullish momentum yesterday topped at 1.0770. The bias remains bullish in nearest term testing 1.0830 area located at the daily EMA 200 as you can see on my daily chart below which is a good place to sell with a tight stop loss above 1.0873. Immediate support is seen around 1.0710. A clear break below that area could lead price to neutral zone in nearest term testing 1.0650 support area. On the upside, a clear break and daily/weekly close above 1.0830 – 1.0873 would activate my bullish mode.

GBPUSD

The GBPUSD continued its bullish momentum yesterday topped at 1.2376 as a part of the bullish scenario after bounced from triple bottom formation at 1.2135. The bias remains bullish in nearest term testing 1.2450 area. Immediate support is seen around 1.2300. A clear break below that area could lead price to neutral zone in nearest term testing 1.2250/25 area. On the upside, a clear break and daily/weekly close above 1.2450 would expose 1.2570 – 1.2600 region next week. Overall I remain neutral.

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USDJPY

The USDJPY was indecisive yesterday. The bias is neutral in nearest term. Immediate support is seen around 112.90 (yesterday’s low). A clear break below that area could trigger further bearish pressure testing 112.50 but key support remains at 111.30 area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 113.50. A clear break above that area could trigger further bullish pressure testing 114.00 or higher.

USDCHF

The USDCHF continued its bearish momentum yesterday bottomed at 0.9951. The bias remains bearish in nearest term testing 0.9870 support area. Immediate resistance is seen around 0.9985. A clear break above that area could lead price to neutral zone in nearest term testing 1.0020/50 area. Overall I remain neutral.

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The information has been prepared for information purposes only. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. This information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXInstructor LLC assumes no responsibilities for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon this information. FXInstructor LLC does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXInstructor LLC shall not be liable for any indirect, incidental, or consequential damages including without limitation losses, lost revenues or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results

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