EURUSD

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.

GBPUSD

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.

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USDJPY

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.

USDCHF

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.

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