EURUSD Forecast:
The EURUSD made indecisive movement yesterday. The bullish momentum after breakout from the previous range of 1.4250 – 1.4450 seems limited so far and looks like price is trying to make another choppy market. However, as long as price stay above 1.4450 area, the bullish scenario targeting 1.4600 should remains intact. Break below 1.4450 should be seen as potential bullish failure re-testing 1.4250 area once again.
GBPUSD Forecast:
The GBPUSD had a bullish momentum yesterday. On daily chart below we can see that price has convincingly move above the bearish channel indicating potential bullish targeting 1.6250 area. Immediate support at 1.6113 area. Break below that area should lead us into no trading zone but only a movement below 1.6040 area could be seen as bullish failure and trigger further bearish scenario back towards 1.5900 – 1.5832 area.
USDJPY Forecast:
As I had expected, the USDJPY had a bearish momentum yesterday, bottomed at 90.73 and closed at 90.97. The bias remains bearish targeting 90.15 area. Immediate resistance at 91.50 – 91.85 area. Break above that area should lead us into no trading zone as direction would become unclear for me.
USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. On h4 chart below we can see that price trapped in a small range area of 1.0213 – 1.0143 area. As long as the bearish channel valid, I still prefer a bearish scenario at this phase and expecting a break below 1.0143/30 area to continue the bearish momentum targeting 0.9917 area. Until that happen, I think I will stand aside for now. A break above 1.0213 area should trigger further upside correction towards 1.0280 area.
EURJPY Forecast
The EURJPY had a significant bearish momentum yesterday, break below the trendline support area after made a false breakout, as you can see on my h4 chart below. This fact should be seen as bullish failure and potentially trigger further bearish pressure testing 131.30 area. Break below that area should trigger further bearish momentum targeting 130.00 area. Immediate resistance at 132.30 area. Break above that area should lead us into no trading zone in nearest term but I still prefer a bearish scenario at this phase.
GBPJPY Forecast
The GBPJPY had a bearish momentum, bottomed at 146.65 and closed at 147.06. On daily chart below we can see that we are in critical technical phase as price is now struggling around the trendline support area. Consistent move below that trendline support should be seen as bullish failure and trigger further bearish momentum targeting 145.20 area. Immediate resistance at 147.70 area. Break above that area should keep the bullish scenario intact.
AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday, bottomed at 0.9169 and closed at 0.9198. I think we are in critical technical phase now. On h4 chart below we can see that price slipped below the bullish channel indicating serious threat to the bullish scenario but price still move around 0.9228 – 0.9190 support area. We need consistent move below that area to confirm the bearish scenario towards 0.9100 – 0.9000 area. Immediate resistance at 0.9250. Break above that area should keep the bullish scenario targeting 0.9404 intact.
