The EURUSD attempted to push lower yesterday, hit my bearish target at 1.3530 but whipsawed to the upside and hit 1.3711 earlier today in Asian session. This fact keeps the bullish intraday bias since bounced from 1.3428 remains intact, but note that h4 chart outlook remains sideways between 1.3800/60 1.3420. Immediate resistance at 1.3715. A clear break above that area could trigger further upside pressure but watch out for another resistance around 1.3743 which need to be clearly broken to the upside to continue the intraday bullish bias testing 1.3800/60 key resistance area. On the downside, a clear move below 1.3650 support area would lead us to neutral zone in nearest term testing 1.3530 and open the door for a retest of 1.3420 key support area.
The GBPUSD continued its bearish correction yesterday, bottomed at 1.6100 but bounced higher earlier today in Asian session hit 1.6188. The bias is bullish in nearest term especially if price able to make a clear break above 1.6200 retesting 1.6276 1.6300 key resistance area but note that overall we are still in sideways condition between 1.6300 1.5950 and I will only reactivate my bullish mode on a clear break above 1.6300 targeting 1.6500 even 1.6700. On the downside, a clear break below 1.6100 would trigger further bearish pressure testing 1.6050 1.6000 and open the door for a retest of 1.5950 key support area.
The USDJPY made a significant bearish momentum yesterday, broke below the neckline of the head and shoulders pattern as you can see on my h4 chart below suggests potential further bearish pressure testing 81.80 especially if price able to make another clear break below 82.50 support area. Immediate resistance at 83.05 (the neckline). A move above that area would lead us to neutral zone in nearest term as direction would become unclear.
The USDCHF made a significant bearish movement yesterday, break below 0.9435 and hit 0.9361 earlier today in Asian session. The bias is bearish in nearest term retesting 0.9328/00 key support area. The 0.9328/00 region is a bearish target for now, but at the same time could be a strong support at this phase. A clear break below that area could trigger further bearish pressure testing 0.9200. Immediate resistance at 0.9435. A clear break above that area would lead us to neutral zone in nearest term but overall the pressure remains strongly to the downside.
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