EURUSD,GBPUSD,USDJPY,USDCHF Daily outlook

EURUSD
The EURUSD was indecisive yesterday. Price traded higher earlier today in Asian session hit 1.1090. The bias is bullish in nearest term but as long as stay below 1.1200 I still prefer a bearish scenario at this phase. Immediate support is seen around 1.1050. A clear break below that area could lead price to neutral zone in nearest term testing 1.1000 support area which need to be clearly broken to the downside to keep the bearish scenario remain strong targeting 1.0700. On the upside, a clear break and daily close above 1.1200 would activate my wait and see mode as direction would become unclear testing 1.1300 – 1.1400 region.

GBPUSD
 The GBPUSD was indecisive yesterday, but traded higher earlier today in Asian session hit 1.3091. This fact gives the hammer formation bullish scenario a better chance. The bias is bullish in nearest term testing 1.3220 region. Immediate support is seen around 1.3000. A clear break back below that area could lead price to neutral zone in nearest term testing 1.2950 – 1.2900 region. Overall I remain bearish but as long as stay above 1.2900 – 1.2950 price is still in a bullish correction bias.

USDJPY
The USDJPY had a strong bullish momentum yesterday topped at 102.89 and hit 103.28 earlier today in Asian session. The bias is bullish in nearest term testing 103.55 which is a good place to sell with a tight stop loss. Immediate support is seen around 102.45. A clear break below that area could lead price to neutral zone in nearest term testing 102.00 – 101.50 region. Overall I still prefer a bearish scenario but as long as stay above 101.50 price is clearly in a bullish correction bias right now. On the upside, a clear break and daily close above 103.55 would expose 105.00 region.

USDCHF
The USDCHF was indecisive yesterday. The bias is neutral in nearest term but as long as stay above 0.9800 my overall intraday bias remains bullish targeting 1.0000 region. On the downside, a clear break and daily close back below 0.9800 could trigger further bearish pressure testing 0.9760 – 0.9700 region. My major technical outlook is neutral.

EURUSD Forecast
The EURUSD had another indecisive movement yesterday. The bias is neutral in nearest term probably with a little bullish bias. It’s been a boring three weeks since the Brexit. The market is consolidating and moving sideways but as long as stay below 1.1200 I still prefer a bearish scenario targeting 1.0700. On the downside, we need a clear break below 1.1000 to continue the bearish scenario.

GBPUSD Forecast
The GBPUSD failed to continue its bullish momentum yesterday bottomed at 1.3133 and hit 1.3104 earlier today in Asian session. The bias is neutral in nearest term probably with a little bearish bias as a result of the failure to make a clear break above 1.3220 resistance as you can see on my daily chart below but as long as stay above 1.3000 the hammer formation bullish scenario should remain alive and kicking. On the upside, a clear break and daily close above 1.3220 would expose 1.3400 even 1.3650 region.

USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term but as long as stay above 103.55 the overall intraday bias should remain strongly bullish. Immediate resistance is seen around 105.00. A clear break and daily close above that area could trigger further bullish pressure testing 106.00 – 106.75 region. On the downside, a clear break and daily close back below 103.55 would interrupt the current bullish bias testing H1 EMA 200 located around 102.80.

USDCHF Forecast
The USDCHF failed to continue its bullish momentum yesterday bottomed at 0.9821. This is not what I had expected but as long as stay above 0.9800 I still prefer a bullish scenario at this phase targeting 1.0000. On the downside, a clear break and daily close back below 0.9800 would activate my wait and see mode as direction would become unclear. My major technical outlook remains neutral.

EURUSD Forecast
The EURUSD was indecisive yesterday. Price slipped below 1.1000 but still unable to make a clear break below that support area so far. Overall price is still trapped inside range area of 1.1200 – 1.1000 as you can see on my daily chart below but I am expecting an imminent breakout. The bias is neutral in nearest term. Immediate resistance is seen around 1.1050 followed by 1.1100 but key resistance remains around 1.1200. Overall I remain bearish but need a clear break below 1.1000 to continue the bearish scenario targeting 1.0700 region.

GBPUSD Forecast
The GBPUSD failed to continue its bearish momentum yesterday topped at 1.3227 and hit 1.3274 earlier today in Asian session. The head and shoulders bearish formation I showed you yesterday is no longer valid. The bias is bullish in nearest term as we may have a false break (below 1.3100) bullish scenario testing 1.3315 region. Immediate support is seen around 1.3180. A clear break below that area could lead price to neutral zone in nearest term retesting 1.3100 key support. My major technical outlook remains bearish.see my profile.

USDJPY Forecast
The USDJPY continued its bullish momentum yesterday topped at 107.01 and hit 107.47 earlier today in Asian session. The bias remains bullish in nearest term testing 108.00 – 108.50 area. Immediate support is seen around 106.75 (former resistance). A clear break below that area could lead price to neutral zone in nearest term testing 106.00. My major technical outlook remains bearish but only a clear break back at least below 105.50 could interrupt the current bullish correction bias.

EURUSD Forecast
The EURUSD had a bullish momentum yesterday closed above 1.1200 key resistance. Overall I still prefer a bearish scenario but this fact force me to activate my wait and see mode. The bias is bullish in nearest term testing the lower line of the (violated) bullish channel located around 1.1300 area. A clear break and daily close above that area could trigger further bullish pressure testing 1.1400 region. Immediate support is seen around 1.1170 – 1.1150. A clear break and daily close back below that area would reactivate my bearish mode testing 1.1070/50 or lower.


GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.3365. The bias is bullish in nearest term testing 1.3400/20 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 1.3300. A clear break below that area could lead price to neutral zone in nearest term testing 1.3250 or lower.

USDJPY Forecast
As expected, the USDJPY continued its bearish momentum yesterday bottomed at 100.67. The bias remains bearish in nearest term testing 100.00 area. A clear break and daily close below that area could trigger further bearish pressure retesting 98.80 region. Immediate resistance is seen around 101.50. A clear break above that area could lead price to neutral zone in nearest term testing 102.00 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell .


USDCHF Forecast
The USDCHF had a bearish momentum yesterday bottomed at 0.9633. The bias remains bearish in nearest term testing 0.9570 and the trend line support which also remains a good place to buy with a tight stop loss. Immediate resistance is seen around 0.9700. A clear break above that area could lead price to neutral zone in nearest term testing 0.9750/70 area. My major technical outlook remains neutral.

The EURUSD had a moderate bearish momentum yesterday bottomed at 1.1132. The bias remains bearish in nearest term testing 1.1100 before targeting 1. 1.1000. Immediate resistance is seen around 1.1180. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 1.1250 would interrupt the bearish phase since fell from 1.1350 region.