EURUSD

The EURUSD attempted to push lower yesterday slipped below 1.1580 support area but still unable to stay consistently below that area and hit 1.1606 earlier today in Asian session. The bias is neutral in nearest term. Overall I remain bearish as a part of the “head and shoulders” bearish reversal scenario as you can see on my daily chart below but need a clear break below 1.1580 to continue the bearish scenario targeting 1.1500 – 1.1450 region. Immediate resistance is seen around 1.1650/70. A clear break above that area could trigger further bullish pressure testing 1.1725 but as long as stay below 1.1900 I remain bearish and any upside pullback should be seen as a good opportunity to sell.

GBPUSD

The GBPUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.3108 but closed higher at 1.3165. The bias is bullish in nearest term testing 1.3270 but key resistance remains at 1.3330. Immediate support is seen around 1.3130. A clear break below that area could lead price to neutral zone in nearest term testing 1.3075/50 area but key support remains at 1.3000. Overall I remain bullish.

- advertisement -

USDJPY

The USDJPY attempted to push higher yesterday topped at 114.34 but closed lower at 114.00 and hit 113.71 earlier today in Asian session. The bias remains bearish in nearest term testing 113.20 support area as a part of the bearish pin bar scenario as you can see on my daily chart below. A clear break and daily close below that area would expose 112.25 – 111.65 region. Immediate resistance is seen around 114.00 but key resistance remains at 114.50 which remains a good place to sell with a tight stop loss. Overall I remain neutral.

USDCHF

The USDCHF had another insignificant movement yesterday. The bias remains neutral in nearest term. Price is still trapped inside a 100-pip range area between 1.0037 – 0.9940 as you can see on my daily chart below and we need a clear break from that range area to see clearer direction . Overall I remain bullish but need a clear break above 1.0037 to resume the bullish trend testing 1.0100 or higher. On the downside, a clear break and daily close below 0.9940 would expose 0.9835 support area.

Previous articleUSD/CAD Canadian Dollar Lower After USD Resurgence
Next articleMarket Morning Briefing: Dollar-Yen Again Rose Above 114.00
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

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.