EURUSD Forecast:
The EURUSD had a moderate bullish momentum yesterday. On h4 chart below we can see that price slipped above the bullish flag but bullish momentum seems limited so far. I still prefer a bullish scenario but we need a convincing movement above the flag and 1.3700 area to continue the bullish scenario targeting 1.3830 region this week. Immediate support at 1.3580. Break below that area could be a threat to the bullish flag upside scenario and lead us back into no trading zone testing 1.3530/00 area.
GBPUSD Forecast:
The GBPUSD had a bullish momentum yesterday. On my h4 chart below we can see that price break above the bullish flag, confirms the bullish scenario targeting 1.5550 – 1.5600 area. Immediate support at 1.5425. Break below that area could be a threat to the bullish flag upside scenario, lead us into a no trading zone testing 1.5350 area but as long as price still move inside the bullish channel I still prefer a bullish scenario at this phase.
USDJPY Forecast:
The USDJPY made another indecisive movement yesterday, made another Doji on daily chart. On h4 chart below we can see that price still trapped in range area of 93.75 – 92.50 indicating consolidation. The bias remains neutral in nearest term. I still prefer a bullish scenario but we need a clear break above 93.75 to end the consolidation phase/downside correction targeting 95.50 region. On the other hand, break below 92.50 and violation to the bullish channel could be seen as a serious threat to the bullish scenario.
USDCHF Forecast
The USDCHF had a moderate bearish momentum yesterday, keep the bearish scenario intact after price break below the major bullish channel. The bias remains to the downside targeting 1.0420. Immediate resistance at 1.0600. Break above that area could lead us into no trading zone as direction would become unclear.
EURJPY Forecast
The EURJPY attempted to push higher yesterday, topped at 127.66 but closed lower at 127.27. The bias is neutral in nearest term. I still prefer a bullish scenario but we need a clear break above 127.88 resistance area to continue the bullish scenario testing 128.70. Immediate support at 126.70/25 area.
GBPJPY Forecast
The GBPJPY had a bullish momentum yesterday, topped at 144.62 and closed at 144.16. The bias remains bullish in nearest term but we need a clear break above 144.70 resistance area to continue the bullish scenario targeting 145.70 even 147.50 this week. Immediate support at 144.10. Break below that area could trigger further bearish pressure testing 143.20 region.
AUDUSD Forecast
The AUDUSD had a bullish momentum yesterday, topped at 0.9359 and closed at 0.9350. The bias remains bullish in nearest term still targeting 0.9404 before aim for 0.9500 area. Immediate support at 0.9280 area. Break below that area could trigger further bearish pullback testing 0.9222 region and might be a serious threat to the bullish scenario.
Labels: Forex Analysis, forex signal, Forex Trend
