Daily Forecast: EURUSD, GBPUSD, USDJPY, USDCHF

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EURUSD Forecast

The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Overall price is still in a bearish phase after printed two important bearish pin bars at the EMA 200 and 1.1610/20 resistance area as you can see on my daily chart below but need a clear break below 1.1430 support area to resume the bearish phase targeting 1.1300 region. Immediate resistance is seen around 1.1530. A clear break and daily close above that area would be a serious threat to the bearish outlook retesting 1.1610/20 resistance area.



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GBPUSD Forecast

The GBPUSD attempted to push higher yesterday, slipped above 1.3000 psychological level but closed lower below 1.3000, printed a bearish pin bar as you can see on my daily chart below. The bias is bearish in nearest term retesting 1.2925 key support. Immediate resistance is seen around 1.3044. A clear break above that area would invalidate the bearish pin bar scenario testing 1.3100 or higher. On the downside, a clear break and daily close below 1.2925 would expose 1.2800 region.



USDJPY Forecast

The USDJPY had a bearish momentum yesterday bottomed at 111.95 but closed higher at 112.43. The bias is neutral in nearest term but as long as stay above the trend line support the major bullish trend should remain valid. Immediate resistance is seen around 113.00 region. A clear break and daily close above that area would retest 114.00/70 key resistance area. On the downside, 112.00 – 111.60 region remains a key support and good place to buy with a tight stop loss as a clear break below 111.60 would invalidate the major bullish trend.



USDCHF Forecast

The USDCHF had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term as a part of the bullish flag scenario but note that we need a clear break above 0.9980 resistance area to resume the bullish run testing 1.0055 area. Immediate support is seen around 0.9940/10 region. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear testing 0.9850/25 region.

 
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