EURUSD

The EURUSD had a bullish momentum yesterday topped at 1.1848. The bias is bullish in nearest term but note that 1.1850 area remains a good place to sell with a tight stop loss as a clear break above that area would invalidate the bearish phase testing 1.1900 – 1.1960 region. Immediate support is seen around 1.1815. A clear break below that area could lead price to neutral zone in nearest term testing 1.1775 – 1.1750 area. Overall I remain neutral.

GBPUSD

The GBPUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.3331 but closed higher at 1.3383. Once again, 1.3330 region proves itself to be a very strong support. The bias is neutral in nearest term probably with a little bullish bias testing 1.3465 region. Immediate support is seen around 1.3330. A clear break and daily close below that area could trigger further bearish pressure testing 1.3220 and trend line support area which remains a good place to buy. Overall I remain bullish.

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USDJPY

The USDJPY had a bullish momentum yesterday topped at 113.07. The bias is bullish in nearest term testing 113.20 resistance area. From a different technical point of view, price might be forming a “head and shoulders” formation as you can see on my H1 chart below. Immediate support is seen around 112.50. A clear break below that area could lead price to neutral zone in nearest term testing 112.00 area. On the upside, a clear break above 113.20 would expose 113.75 area. Overall I remain neutral.

USDCHF

The USDCHF was indecisive yesterday. The bias is neutral in nearest term. I have made some adjustments to the bearish channel on the H1 chart. Immediate support is seen around 0.9818 A clear break and daily close below that area would expose 0.9780 – 0.9735 area. Immediate resistance is seen around 0.9878. A clear break above that area could trigger further bullish pressure testing 0.9910 and the upper line of the bearish channel. Overall I remain neutral.

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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

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