The EURUSD attempted to push higher yesterday, slipped above the trend line resistance as you can see on my H1 chart below, topped at 1.1860 but whipsawed to the downside and closed lower at 1.1790 and hit 1.1768 earlier today in Asian session which could create a false breakout scenario. On daily chart, price printed a bearish pin bar suggests a potential bearish condition. The bias is bearish in nearest term testing 1.1725 – 1.1670 support area. Immediate resistance is seen around 1.1815. A clear break above that area could lead price to neutral zone in nearest term retesting 1.1860 but as long as stay below 1.1900 the “head and shoulders” bearish reversal scenario on daily chart should remain valid.
The GBPUSD was indecisive yesterday. The bias remains neutral in nearest term. Immediate resistance is seen around 1.3230. A clear break and daily close above that area would expose 1.3330 key resistance which need to be clearly broken to the upside to resume the major bullish trend. Immediate support is seen around 1.3130. A clear break below that area could trigger further bearish pressure testing 1.3085 but as long as stay above 1.3000 I remain bullish and any downside pullback should be seen as a good opportunity to buy.
The USDJPY had a significant bearish momentum yesterday, broke below 113.20 support area. The bias is bearish in nearest term testing 112.00 – 111.65 as a part of the bearish pin bar scenario as you can see on my daily chart below. Immediate resistance is seen around 113.20. A clear break above that area could lead price to neutral zone in nearest term testing 113.50 or higher but key resistance remains at 114.50 which remains a good place to sell with a tight stop loss. Overall I remain neutral.
The USDCHF was indecisive yesterday. Price attempted to push lower bottomed at 0.9846 but closed higher at 0.9883. The bias is neutral in nearest term. Immediate support is seen around 0.9835. A clear break below that area could trigger further bearish pressure testing the daily EMA 200 located around 0.9800. Immediate resistance is seen around 0.9940. A clear break and daily close above that area would keep the major bullish trend alive and kicking retesting 1.0037 key resistance.