The EURUSD had a moderate bearish momentum yesterday. The bias is
bearish in nearest term but overall price is still moving sideways as
you can see on my hourly chart below. I still prefer a bearish scenario
at this phase but need a clear break below 1.1270 to continue the
bearish scenario testing 1.1225 – 1.1200. Immediate resistance is seen
around 1.1350. A clear break above that area could lead price to neutral
zone in nearest term testing 1.1400 – 1.1450 but key resistance remains
The GBPUSD attempted to push lower yesterday bottomed at 1.5331 but
whipsawed to the upside and hit 1.5473. The rising wedge bearish
scenario is no longer valid and the bias is bullish in nearest term but
we have an important resistance around 1.5480 which need to be clearly
broken to the upside to continue the bullish scenario testing 1.5550
area. Immediate support is seen around 1.5420. A clear break below that
area could lead price to neutral zone in nearest term testing 1.5350
region. Overall I prefer a bullish intraday scenario at this phase.
The USDJPY had another indecisive movement yesterday. The bias is
neutral in nearest term. Price is moving sideways between 119.40 –
118.30 as you can see on my hourly chart below. Sell around 119.40 or
buy around 118.30 with a tight stop loss seems to be the best intraday
trading plan for now.
The USDCHF regained its bullish momentum yesterday topped at 0.9525.
The bias is bullish in nearest term testing 0.9600. Immediate support
is seen around 0.9475. A clear break below that area could lead price
to neutral zone in nearest term testing 0.9435 but as long as stays
above the daily EMA 200 and 0.9350 support area I still prefer a
bullish scenario at this phase.