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.
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.