EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.3704 but whipsawed to the upside, closed at 1.3801 and hit 1.3837 earlier today in Asian session. The bias remains bullish in nearest term retesting the key resistance 1.3860. In a broader outlook as you can see on my h4 chart below the Euro seems to be in a very good technical condition to continue the bullish scenario since the bullish running from 1.2873 especially if price able to make a convincing close above 1.3860 key resistance this week, which would open the door for further bullish scenario targeting 1.4000 even 1.4200 – 1.4300 in longer term. Immediate support at 1.3785. A break below that area could lead us to neutral zone retesting 1.3715/00.



GBPUSD Forecast
The GBPUSD was corrected lower yesterday after a clear break below 1.6180, bottomed at 1.6084 and bounced higher earlier today in Asian session hit 1.6159. While the medium outlook remains sideways, as long as price stays below 1.6180 – 1.6200 the intraday bias is more to the downside especially if price able to consistently move below 1.6100 testing 1.6050 – 1.6000 support area. I still prefer a major bullish outlook as long as price stays above 1.5950 and only a clear break below 1.5950 would be a serious threat to the major bullish outlook. On the upside, a clear break above 1.6200 would change the intraday bias to bullish retesting 1.6276 – 1.6300 key resistance area.



USDJPY Forecast
The USDJPY continued its bearish momentum yesterday, bottomed at 81.61 but still unable to consistently move below 81.80 support area so far. The bias remains bearish in nearest term targeting 81.30 – 80.93 especially if price able to make another strong break below 81.61. Immediate resistance at 82.50. A clear break above that area would lead us to neutral zone in nearest term but overall price is still in a strong bearish outlook provided by the “head and sh0ulders” pattern and I still prefer a bearish scenario at this phase.



USDCHF Forecast
The USDCHF continued its bearish momentum yesterday bottomed at 0.9233 and closed at 0.9253. The bias remains bearish in nearest term still testing 0.9200 support area. A convincing close below that support area this week would open the door for further bearish scenario targeting 0.9000 psychological level. Immediate resistance remains around 0.9330. A clear break above that area would lead us to neutral zone in nearest term but overall price is still in a strong bearish outlook and long position is not recommended.



Have a great day!

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.3785 and closed at 1.3749. Price is now moving above 1.3743 resistance area suggests potential further upside pressure testing 1.3860 key resistance area. However note that overall price still trapped in wide range area 0f 1.3860 – 1.3420 and need a clear break above 1.3860 to continue the bullish scenario targeting 1.4000 – 1.4200 region. Immediate support at 1.3715. A Clear break below that area would change the intraday bias to bearish testing 1.3650 and keep price in the range market a little bit longer.



GBPUSD Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.6271 but close a little bit lower at 1.6213. The intraday bias likely to remains bullish testing 1.6300 key resistance area but note that we need a clear break above 1.6300 to continue the bullish scenario and reactivate my bullish mode targeting 1.6500 – 1.6700. Immediate support at 1.6180. A clear break below that area would change the intraday bias to bearish testing 1.6100 and keep price in a range market between 1.6300 – 1.5950 a little bit longer.



USDJPY Forecast
The USDJPY continued its bearish pressure yesterday, broke below 82.50 as you can see on my h4 chart below. The bias remains bearish in nearest term targeting 81.80 – 81.30 support area. On the upside, another move back above 82.50 would lead us to neutral zone in nearest term but overall the “head and shoulders” bearish scenario remains valid and the pressure should remain to the downside.



USDCHF Forecast
The USDCHF continued its bearish momentum yesterday and hit 0.9275 earlier today in Asian session. This fact would open the door for further bearish pressure targeting 0.9200 region. Immediate resistance at 0.9330. A clear break above that area would lead us to neutral zone in nearest term but any upside pullback after two weeks of strong bearish momentum is normal and overall the pressure remains strongly to the downside.



Have a great day!

EURUSD Forecast
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.



GBPUSD Forecast
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.



USDJPY Forecast
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.



USDCHF Forecast
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.



Have a great day!

EURUSD Forecast
The EURUSD didn’t make significant movement yesterday, but corrected lower earlier today in Asian session, hit 1.3563. The growing tension in Libya and Middle East triggered risk aversion sentiment, lead Dollar higher, sent Gold back above 1400 level and Euro technical bullishness is halted. The bias is bearish in nearest term testing 1.3530. A clear break below that area could trigger further bearish pressure re-testing 1.3420 key support area. Immediate resistance at 1.3650. Clear break above that area would give the bullish scenario another chance testing 1.3743 region before testing 1.3800 – 1.3860 key resistance area.



GBPUSD Forecast
The GBPUSD was also corrected higher earlier today in Asian session on risk aversion sentiment which triggered broad Dollar strength and now testing 1.6150 support area. Technically speaking, the downside pressure may continue as a double top formation was formed around 1.6276 as you can see on my h4 chart below, but need a clear break below 1.5950 to confirm the bearish reversal scenario. A clear break below 1.6150 would trigger further downside pressure testing 1.6100 – 1.6050 support area. On the upside, we need a clear break above 1.6300 to continue the major bullish scenario and reactivate my bullish mode.



USDJPY Forecast
The USDJPY attempted to push lower earlier today in Asian session, bottomed at 82.83 but bounced higher around 83.30 at the time I wrote this comment. My technical view is a little bit mess. The “head and shoulders” scenario remains intact unless price breaks above the right shoulder around 83.50, but my bullish mode will be reactivated only on a clear break above the head at 83.96 targeting 84.40 and 86.00. On the downside, another move below 83.05 would change the intraday technical bias to bearish testing 82.50 and 81.80.



USDCHF Forecast
The USDCHF was indecisive yesterday, made a Doji on daily chart but corrected higher earlier today in Asian session hit 0.9504 on broad risk aversion sentiment. The bias is neutral in nearest term. Immediate resistance at 0.9523 followed by 0.9600. Overall we are still in a strong bearish outlook but would need a clear break below 0.9435 to continue the bearish scenario targeting 0.9328. On the upside, a clear break above 0.9600 would give the falling wedge bullish scenario another chance testing 0.9700 – 0.9800 resistance area.



Have a great day!

EURUSD Forecast
The EURUSD continued its bullish momentum on Friday broke above 1.3650 and hit 1.3715 earlier today in Asian session but corrected lower around 1.3670 at the time I wrote this comment. The bias is bullish in nearest term especially if price able to make another clear break above 1.3743 re-testing 1.3800 – 1.3860 key resistance area. On the downside, a move below 1.3650/30 support area could trigger further bearish pullback testing 1.3550.



GBPUSD Forecast
The GBPUSD continued its bullish momentum on Friday and now seems ready to test 1.6300 key resistance area. The bias remains bullish in nearest term but I think we may have a good resistance around 1.6276 - 1.6300 and need a clear break above that area to continue the bullish outlook targeting 1.6500 – 1.6700 this week. Immediate support at 1.6185/50. A clear break below that area could change the intraday bias to bearish testing 1.6050 but overall the technical bias remains to the upside.



USDJPY Forecast
The USDJPY continued its bearish correction on Friday and now seems ready to test 83.05 key support area, which is also the neckline of the “head and shoulders” bearish formation as you can see on my h4 chart below. A clear break below that area would continue the bearish correction testing 82.50 even back to 81.80. On the upside, we need a clear break above 83.96 (the head) to continue the bullish scenario and reactivated my bullish mode targeting 84.40 and 86.00.



USDCHF Forecast
The USDCHF continued its bearish momentum on Friday. This fact is a serious threat to the falling wedge bullish reversal scenario. The bias remains bearish in nearest term especially if price able to make another strong break below 0.9435 targeting 0.9328. Immediate resistance at 0.9523/50. A clear break above that area would change the intraday technical bias to bullish testing 0.9600 and would give the bullish scenario another chance.



Have a great day!

EURUSD Weekly Summary: Bullish flag broken, Euro could continue the bullish run to 1.3860 or higher
The EURUSD slipped below 1.3500 this week, but found a good support around 1.3420 area before bounced significantly higher and hit 1.3714 on Friday. As you can see on my daily chart below, the bullish flag is broken out to the upside, suggests potential bullish continuation scenario which started from 1.2873. This fact not only open the door for further bullish run testing 1.3800 – 1.3860 key resistance area, but could create a bigger bullish scenario testing 1.4200 – 1.4300. Immediate support is seen around 1.3650 followed by 1.3550. A break below 1.3550 could cancel the bullish flag upside scenario re-testing 1.3420 key support level.



Have a great weekend and see you guys next week.

EURUSD Forecast
The EURUSD still able to maintain its bullish intraday bias so far and now struggling around the trend line resistance as you can see on my h1 chart below. The bias remains bullish in nearest term but would need a convincing move above the trend line resistance and a clear break above 1.3650 (50% Fibo retracement of 1.3860 – 1.3427) to continue the bullish scenario targeting 1.3743 before testing 1.3800 – 1.3860 key resistance area. Immediate support at 1.3540. A failure to make a clear break above the trend line resistance and a consistent move below 1.3540 would change the intraday bias to bearish testing 1.3470 – 1.3420 key support area.



GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday and now testing 1.6180 resistance area. The bias remains bullish in nearest term especially if price able to make another clear breakout above 1.6180 targeting 1.6276 – 1.6300 key resistance level. Immediate support at 1.6110. A clear break below that area would lead us to neutral zone in nearest term testing 1.6050 – 1.6000 but only a clear break below 1.5950 could be a threat to the major bullish outlook.



USDJPY Forecast
The USDJPY was corrected lower yesterday, bottomed at 83.15 and closed at 83.31. The CCI bearish divergence gave us a valid bearish pullback warning and this bearish momentum would continue if price able to make another break below 83.05 testing 82.60. Immediate resistance at 83.66. A clear break above that area would keep the bullish scenario remains strong but would need a clear break above 83.96 to confirm the bullish scenario targeting 84.40 and 86.00.



USDCHF Forecast
The USDCHF continued its bearish correction yesterday and now traded below 0.9523 support area. This fact is a serious threat to the bullish scenario. The bias is bearish in nearest term testing 0.9440. Break below that area would continue the bearish pressure testing 0.9330/00 key support area. Immediate resistance at 0.9523. Break above that area would lead us to neutral zone in nearest term. Only a clear break above 0.9600 would change the intraday bias to bullish and give another chance to the bullish scenario testing 0.9700 – 0.9800.



Have a great day!

EURUSD Forecast
The EURUSD made another volatile movement yesterday but overall still maintain its bullish correction phase after strong rejection to move below 1.3470 support area. The bias is bullish in nearest term testing the trend line resistance and 50% Fibo retracement of 1.3860 – 1.3427 around 1.3650. For me, as long as price stays below 1.3650 the current bullish move still considered as corrective move and don’t forget that overall price still trapped in range area of 1.3800 (1.3860) – 1.3500 (1.3420) and still looking for a new direction. A clear break above 1.3650 could trigger further bullish momentum testing 1.3743 which would open the door for further bullish scenario testing 1.3800 – 1.3860. Immediate support at 1.3520. Clear break below that area would change the intraday bias to bearish testing 1.3470 – 1.3420 but only a clear break below 1.3420 would confirm the bearish scenario targeting 1.3250.



GBPUSD Forecast
The GBPUSD was volatile but indecisive yesterday. Price attempted to push lower, bottomed at 1.5986 but closed higher at 1.6084. The bias is neutral in nearest term. On h4 chart below we can see price still trapped in range area 0f 1.6276 – 1.5950 and need a clear break on either side to see clearer direction. The major scenario remains bullish after the break above the bearish channel on January 12 but need a clear break above 1.6300 to continue the major bullish scenario testing 1.6500 region. Immediate support at 1.6050. Clear break below that area would change the intraday bias to bearish testing 1.5980/50 but only a clear break below 1.5950 could be a threat to the major bullish scenario. Immediate resistance at 1.6120. Clear break above that area would change the intraday bias to bullish testing 1.6180. A clear break above 1.6180 would open the door for further bullish scenario testing 1.6276 – 1.6300 key resistance area.



USDJPY Forecast
The USDJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but I think we are still in a good condition of a bullish scenario as after made a false breakdown below the triangle price still able to move above the triangle so far. A clear break above 83.96 could trigger further bullish momentum testing 84.40 before testing 86.00. However, as you can see on my h4 chart below, we have CCI bearish divergence suggesting a potential downside pullback testing 83.05 support area. I don’t expect any move below that support, but a break below that support would activate my wait and see mode as direction would become unclear.



USDCHF Forecast
The USDCHF continued its bearish correction yesterday bottomed at 0.9554 and closed at 0.9596. The bias remains bearish in nearest term and my wait and see mode is now activated as I have conflicting multi time frames technical bias. However, as you can see on my daily chart below price still move above the falling wedge and testing the upper line so actually the bullish reversal scenario should remains intact unless price go back inside the wedge. 0.9523 level is an important support at this phase and price could be consolidating between 0.9523 – 0.9782 range area. Aggressive intraday traders can long around that support level as there is a good risk – reward calculation there. A clear break below 0.9523 would cancel my bullish outlook and keep the intraday bias in a bearish view testing 0.9450 even lower.



Have a great day!

EURUSD Forecast
The EURUSD was volatile but indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but as you can see on my h1 chart below price still moving in a minor bullish channel since bounced higher from 1.3427 suggests that price is still in bullish correction phase. The target of this bullish correction is around the trend line resistance and 1.3669 which could be tested if price able to make a clear break above 1.3570. Immediate support remains around 1.3470 and the lower line of the minor bullish channel. A clear break below that area could trigger further bearish pressure testing 1.3420 before targeting 1.3250.



GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday, topped at 1.6169 and closed at 1.6126. The bias is bullish in nearest term especially if price able to make another strong and clear break above 1.6170 targeting 1.6230 and 1.6276. Immediate support at 1.6100. Break below that area could lead us to neutral zone in nearest term testing 1.6050 – 1.6000 support area but as long as price stays above 1.5950 the major bullish scenario remains intact.



USDJPY Forecast
The USDJPY continued its bullish momentum yesterday, topped at 83.90 and closed at 83.71. The bias is bullish in nearest term still targeting 84.40 before testing 86.00 this week. On h4 chart below we can see after made a false breakdown below the triangle, price has been moving in a nice bullish movement by making higher support levels. Immediate support at 83.66. Break below that area could lead us to neutral zone in nearest term testing 83.05.



USDCHF Forecast
The USDCHF continued its bearish correction yesterday and slipped below 0.9660. The bias is bearish in nearest term testing 0.9600 but I still believe that the major bullish scenario remains intact and the current bearish pressure is normal unless price make a clear break below 0.9600 which would activate my wait and see mode but with more bearish intraday bias. Immediate resistance at 0.9720. Break above that area could end the bearish correction re-testing 0.9800 before targeting 1.0000 area.



Have a great day!

EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.3427 but closed higher at 1.3488 and back above 1.3500 earlier today in Asian session. The bias is bullish in nearest term testing 1.3570 but as long as price moves below the trend line resistance we are still in a bearish phase after the false breakout above 1.3800 and I still prefer a bearish scenario. Break above 1.3570 could trigger further bullish pullback testing 1.3669 and the trend line resistance. On the downside, immediate support at 1.3470. Break below that area could trigger further bearish pressure re-testing 1.3420 support area. A clear break below 1.3420 would give us further validation to the bearish continuation scenario targeting 1.3250 this week.



GBPUSD Forecast
The GBPUSD was volatile but indecisive yesterday. The bias is neutral in nearest term. We are still in a bearish correction phase but 1.5950 – 1.6000 support area still did a god job preventing further bearish pressure and keep the major bullish scenario intact. Immediate resistance at 1.6070. Clear break above that area could change the intraday technical bias to bullish and trigger further bullish pressure testing 1.6140. A clear break above 1.6140 would open the door for further upside pressure re-testing 1.6300. On the downside, a clear break below 1.5950 could trigger further bearish pressure testing 1.5780 which could be a threat to the bullish scenario.



USDJPY Forecast
The USDJPY had a bearish momentum yesterday after failed to make a clear move above the triangle as you can see on my daily chart below. The bias is neutral in nearest term. We are in a critical technical point here. I still prefer a bullish scenario but would need a clear break above 83.66 and consistent move above the triangle to see further bullish scenario targeting 84.40 even 86.00. Immediate support at 83.10. Break below that area could trigger further bearish pressure testing 82.80/50 support area.



USDCHF Forecast
The USDCHF was corrected lower yesterday bottomed at 0.9690 and closed at 0.9699. The bias is neutral in nearest term but still within a strong bullish scenario after the break above the falling wedge formation. Immediate support at 0.9660 area, which seems to be a good area for a long position with a good risk –reward ratio. Immediate resistance at 0.9782 – 0.9800. Clear break above that area would continue the bullish scenario targeting 1.0000.



Have a great day!

EURUSD Forecast
The EURUSD had a bearish momentum yesterday after fell below the minor bullish channel and 1.3669 support area (now resistance) as you can see on my h4 chart below. After made a false breakout above 1.3800, we have lower high indicates limited bullish pressure and potential further bearish pressure re-testing 1.3500 key support area in nearest term. However note that unless price makes a clear break below 1.3500, overall we are still in consolidation phase, with range area between 1.3500 – 1.3800. Immediate resistance at 1.3620. Break above that area could lead us to neutral zone in nearest term testing 1.3669 – 1.3687 resistance area.



GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.6011 but closed higher at 1.6085. There are no changes in my daily technical outlook. The bias remains neutral in nearest term as price made another indecisive daily movement. The situation remains the same. We are still in a bearish correction phase in a major bullish outlook. In order to keep the major bullish outlook remains intact, price has to be able to keep moving above 1.6000 key support area. A clear break below 1.6000 could be a threat to the bullish outlook testing 1.5780. Immediate resistance at 1.6130 followed by 1.6170. We need a clear break above 1.6170 to continue the bullish scenario re-testing 1.6300.



USDJPY Forecast
The USDJPY continued its bullish correction yesterday, topped at 83.35 and hit 83.43 earlier today in Asian session. The bias remains bullish in nearest term, but as you can see on my daily chart below, we may have a strong resistance around 83.50 and the upper line of the triangle. We need a clear break above the triangle to confirm the bullish reversal scenario targeting 84.40 even higher. Immediate support at 83.23 (current low). Break below that area could lead us to neutral zone in nearest term testing 82.80/50 but overall we are still in a bullish correction phase.



USDCHF Forecast
The USDCHF continued its bullish momentum yesterday, topped at 0.9701 and closed at 0.9692. The bias remains bullish in nearest term targeting 0.9782 – 0.9800 before testing 1.0000. Immediate support at 0.9660. Break below that area could lead us to neutral zone in nearest term testing 0.9600 but overall we are still in strong bullish outlook and I still prefer a bullish scenario at this phase.



Have a great day!

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday after break above 1.3669 – 1.3687 resistance area (now support), topped at 1.3743 but corrected lower earlier today in Asian session hit 1.3688. On h1 chart below we can see price still moving inside the minor bullish channel since bounced from 1.3507 suggests that we are still in bullish intraday outlook especially if price able to make a clear break above 1.3740 targeting 1.3800 – 1.3860 key resistance area. On the downside, a movement below the minor bullish channel and consistent move back below 1.3669 could trigger further bearish pressure testing 1.3600 – 1.3570 support area even re-testing 1.3500 key support area. Key support/resistance: 1.3500 – 1.3800.



GBPUSD Forecast
The GBPUSD made another volatile but indecisive yesterday. A look at daily chart easily shows us that we have no clear momentum and convincing bullish/bearish candle but price keeps making lower highs indicates the downside pressure remains strong, but found a strong support around 1.6000 area. The bias is neutral in nearest term. The major bullish scenario remains intact but would need a clear break above 1.6170 to continue the upside pressure targeting 1.6300 even higher. Immediate resistance at 1.6123 (yesterday’s high). Break above that area would change the intraday bias to bullish testing 1.6170. On the downside, a clear break below 1.6000 and the descending triangle would be a threat to the bullish outlook testing 1.5780.



USDJPY Forecast
The USDJPY made another volatile but indecisive yesterday but still able to move above 82.45 so far suggests that the intraday bias remains to the upside still testing 83.20 – 84.40. On the downside, immediate support is seen around 82.15 followed by 81.80, where some buying activities were seen. While market remains volatile without consistent momentum in short term outlook, a look at the daily chart below gives us a broader view that overall price still consolidating in a triangle formation. A bullish reversal scenario after hit 15 year low at 80.30 would be validated on a clear break above the triangle and 83.50 resistance area.



USDCHF Forecast
The USDCHF was corrected lower yesterday, bottomed at 0.9552 and closed at 0.9577. The bias is neutral in nearest term but still within a bullish reversal scenario after the break above the falling wedge formation. I am still in bullish mode for this pair unless price breaks below 0.9529 which could be a threat to the bullish outlook. Nearest term bullish target remains around 0.9700 – 9.800 before testing 1.0000. Buying near 0.9529 is the best strategy I can think right now where risk-reward ratio looks very good.



Have a great day!

EURUSD Forecast
The EURUSD slipped above 1.3669 yesterday, topped at 1.3687, which is the 50% Fibo retracement of 1.3680 – 1.3507 but still unable to stay consistently above 1.3669 so far. Overall there are no significant technical changes and price still trapped in range area of 1.3500 – 1.3800 suggests that price still in consolidation phase, still looking for a new direction. After the false breakout above 1.3800, overall bias should remains to the downside for now unless price breaks above 1.3687 which would change the intraday technical bias to bullish re-testing 1.3800 after the failure to break below 1.3500 on Monday. Immediate support at 1.3600 – 1.3570. Break below that area could trigger further bearish pressure re-testing 1.3500.



GBPUSD Forecast
The GBPUSD slipped below 1.6090 yesterday, bottomed at 1.6027 and closed at 1.6069. This fact should give us more bearish intraday bias for now, still testing the key support 1.6000 but note that as long as price stays above 1.6000 the major bullish outlook remains intact. Note that we also have a descending triangle formation as you can see on my h4 chart below, which is a bearish pattern especially if price able to make a clear break below the triangle and 1.6000 which would be a threat to the bullish outlook. Immediate resistance at 1.6110. Clear break above that area would change the intraday bias to bullish re-testing 1.6170 and keep the bullish scenario remains strong.



USDJPY Forecast
The USDJPY was volatile but indecisive yesterday. Price attempted to push lower after break below 82.15, bottomed at 81.77 but bounced to the upside and closed higher at 82.27. The bias is neutral in nearest term. We have a strong intraday resistance around 82.45 and need a clear break above that area to continue the bullish correction scenario and activate my bullish mode still targeting 83.20 – 84.40. On the downside we seem to have a strong support around 81.80 as there were strong buying activities around that area.



USDCHF Forecast
The USDCHF made a significant bullish momentum yesterday, break above the falling wedge formation as you can see on my daily chart below. This fact could be the early signal of a bullish reversal scenario targeting 0.9700 and 0.9800 in nearest term before testing 1.0000 area. Immediate support at 0.9600 followed by 0.9529.



Have a great day!

EURUSD Forecast
The EURUSD was volatile but indecisive yesterday, made a Doji on daily chart. Price attempted to push lower, bottomed at 1.3507, but closed higher at 1.3578 and hit 1.3614 earlier today in Asian session. We saw another buying activity around 1.3500 support area which keep us in range market between 1.3500 – 1.3800. On the upside, immediate resistance at 1.3625. Clear break above that area could trigger further bullish pressure testing 1.3669. Clear break above 1.3669 could open the door for further upside pressure re-testing 1.3800 key resistance area.



GBPUSD Forecast
The GBPUSD slipped above 1.6170 yesterday, but whipsawed to the downside, bottomed at 1.6089 and traded higher earlier today in Asian session hit 1.6142 in a volatile market without consistent momentum. The bias is neutral in nearest term and still within a context of major bullish outlook. On h1 chart below we can see price is moving in a range area between 1.6170 – 1.6090 and need a clear break on either side to see clearer intraday direction. A clear break above 1.6170 could trigger further upside pressure re-testing 1.6300 while a clear break below 1.6090 could trigger further bearish pressure re-testing 1.6000 key support area. A clear break below 1.6000 could be a serious threat to the major bullish outlook.



USDJPY Forecast
The USDJPY didn’t make significant move yesterday. On h1 chart below we can see price is moving in a narrow range of 82.45 – 82.15. The bias is neutral in nearest term. I prefer a bullish scenario at this phase and expecting a clear break above 82.45 to activate my bullish mode targeting 83.20 – 84.40. On the downside, a break below 81.15 could trigger further bearish pullback testing 81.80 – 81.30 support area.



USDCHF Forecast
The USDCHF was indecisive yesterday, made a Doji on daily chart. On daily chart below we can see price attempted to push higher but found a good resistance at the upper line of the falling wedge. The bias is neutral in nearest term but we are still in bullish correction phase. A clear break above the wedge and consistent move above 0.9600 could be the early signal of a bullish reversal scenario targeting 0.9700 and 0.9800 area even higher. Immediate support remains at 0.9529. Break below that area could trigger further bearish pressure testing 0.9440/50 support area.



Have a great day!

EURUSD Forecast
The EURUSD attempted to push lower on Friday, bottomed at 1.3543 but traded higher earlier today in Asian session, hit 1.3622. The bias is neutral in nearest term. On h1 chart below we can seen that there were buyers around 1.3540 – 1.3500 support area which keep price in range condition between 1.3500 – 1.3800 for now. We need a clear break from either side to see clearer direction. Immediate resistance at 1.3669. Break above that area could turn the intraday bias to bullish and open the door for further upside pressure re-testing 1.3800 key resistance area. On the downside, a clear break below 1.3500 would give us a bearish medium outlook testing 1.3250.



GBPUSD Forecast
The GBPUSD was volatile but indecisive on Friday. Price attempted to push lower, bottomed at 1.6035 but closed higher at 1.6108. The bias is neutral in nearest term, but like I said, as long as price stays above 1.6000 the major bullish outlook remains intact. As you can see on my h1 chart below, during the bullish phase from 1.5350, price made two downside corrections (red arrows) but so far the major bullish outlook remains intact and those corrections have not cancel the major bullish view yet. Immediate resistance at 1.6170. Break above that area would change the intraday bias to bullish and open the door for further bullish pressure re-testing 1.6300 area.



USDJPY Forecast
The USDJPY was volatile on Friday but overall still able to maintain its bullish correction bias since hit the 15 year low at 80.30. The bias is bullish in nearest term especially if price able to make another break above 82.45 targeting 83.20 before testing 84.40. Immediate support at 81.80. Break below that area could lead us to neutral zone in nearest term re-testing 81.30 – 80.90 support area.



USDCHF Forecast
The USDCHF continued its bullish momentum on Friday and now testing the upper line of the falling wedge formation as you can see on my daily chart below. The bias remains bullish in nearest term but I will keep stand aside for now until we have a clear break above the wedge and 0.9600 key resistance area to activate my bullish mode. Immediate support at 0.9529 (current low). Break below that area could lead us to neutral zone in nearest term testing 0.9440/50 support area.



Have a great day!