EURUSD Forecast:
The EURUSD had a moderate bullish momentum yesterday, topped at 1.4399, closed at 1.4383 and keep moving higher earlier today in Asian session traded around 1.4407 at the time I wrote this comment. I think the bias should remains neutral in nearest term as I am still expecting a range market between 1.4450 – 1.4250 at this phase. On daily chart below we can see that price move in triangle area indicating a consolidation. For me unless we have a break above 1.4450 I still prefer a bearish scenario. Break above 1.4450 should be seen as bearish failure which could trigger further bullish momentum re-testing 1.4600 area.
GBPUSD Forecast:
The GBPUSD had a significant bullish momentum yesterday, break above the trendline resistance indicating potential bullish outlook. The bias is bullish in nearest term but we need a clear break above 1.6430 area to continue bullish scenario targeting 1.6600 area. Immediate support at 1.6330 area. Break below that area should be seen as potential threat to the bullish outlook testing 1.6250 area.
USDJPY Forecast:
The USDJPY didn’t make significant movement yesterday. We have nothing significant technically so I still prefer a bearish scenario towards 90.15. Break below that area should trigger further bearish scenario targeting 88.80 area. Immediate resistance at 91.30 followed by 91.85. Only break above 91.85 could be seen as bearish failure and trigger further bullish momentum towards 93.75 area.
USDCHF Forecast
The USDCHF had a moderate bearish momentum yesterday. On h4 chart below we can see that the bearish channel remains valid keep the bearish scenario intact. The bias remains neutral in nearest term. Immediate support at 1.0213. Break below that area should trigger further bearish momentum targeting 1.0143/30 area.
EURJPY Forecast
The EURJPY made indecisive movement yesterday. We have nothing significant technically and the bias is neutral in nearest term but I still prefer a bearish scenario at this phase especially we we have a valid break below 130.00 targeting 129.00 area. Immediate resistance at 131.30. Break above that area should be seen as a serious threat to the bearish outlook.
GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, but earlier today in Asian session we have some upside pressure. However, as you can see in my daily chart below, price still trapped in triangle area indicating consolidation (I made some adjustment to the triangle). I think we are in no trading zone and I prefer to stand aside for now and wait for further development. We need a clear break from the triangle to see clearer direction. Immediate resistance at 149.95. Break above that area should be seen as potential bullish scenario. Initial support at 148.00 area. Break below that area should be seen as potential bearish scenario.
AUDUSD Forecast
The AUDUSD failed to continue its bearish momentum yesterday, topped at 0.9278 and closed at 0.9261. This fact lead me to a no trading zone area but the bias is to the upside in nearest term. My bearish scenario should remains intact as long as price move below 0.9325 area, which is for me a good place for a short position with a tight stop loss above it. Immediate support at 0.9240 area. Break below that area should trigger further bearish momentum and keep the bearish scenario towards 0.9110 intact.
