The EURUSD didn’t make significant movement yesterday. The bias remains neutral in nearest term. Price has been moving sideways for the last two weeks between 1.1670/90 – 1.1555 as you can see on my H1 chart below suggests a consolidation phase. A clear break above 1.1670/90 would expose 1.1725 or higher but as long as stay below 1.1900 I remain bearish as a part of the “head and shoulders” bearish scenario on daily chart. On the downside, a clear break and daily close below 1.1555 would expose 1.1450 region.


The GBPUSD attempted to push lower yesterday bottomed at 1.3061 but closed a little bit higher at 1.3114 after bounced-off the trend line support as you can see on my daily chart below. The bias is neutral in nearest term but as long as stay above 1.3000 I remain bullish and any downside pullback should be seen as a good opportunity to buy. Immediate resistance is seen around 1.3150. A clear break above that area could trigger further bullish pressure testing 1.3200/25 area but key resistance remains at 1.3330 which need to be clearly broken to the upside to resume the major bullish scenario.

- advertisement -


The USDJPY didn’t make significant movement yesterday. The bias remains neutral in nearest term. Price has been moving sideways between 114.50 – 113.20 range area for the last three weeks suggests a consolidation phase. The bearish pin bar scenario on daily chart remains valid, but need a clear break below 113.20 to continue the bearish scenario testing 112.50 – 111.65 support area. On the upside, 114.50 remains a key resistance and good place to sell with a tight stop loss. Overall I remain neutral.


The USDCHF was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term and price is still trapped between 1.0037 – 0.9940 range area as you can see on my daily chart below. 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 below 0.9940 would expose 0.9835 support area.

Previous articleAUD/USD Breaks Down, Eyes Lower Lows
Next articleMarket Morning Briefing: The Pound Dipped To 1.3061
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


Please enter your comment!
Please enter your name here

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