EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.4151 and closed at 1.4125. The bias remains bullish in nearest term testing 1.4158. Clear break above that area could trigger further bullish momentum testing 1.4220/50 before targeting 1.4375 – 1.4400 region. Immediate support at 1.4060. Break below that area could trigger further bearish pullback testing 1.4000 but as long as price moves inside the bullish channel we are still in bullish phase.
GBPUSD Forecast
The GBPUSD continued its bullish bias yesterday, topped at 1.6170 but closed lower at 1.6105. The bias remains bullish in nearest term testing 1.6250 area. Immediate support at 1.6079 and the lower line of the minor bullish channel. Break below that area and violation to the downside of the minor bullish channel could trigger further downside pressure testing 1.6000 but overall the major scenario remains to the upside.
USDJPY Forecast
The USDJPY still trapped inside a range area without a clear direction and consistent momentum so far. The bias remains neutral in nearest term. Expected range at 81.95 – 80.24, but still with more downside bias. 81.95 level could be a good place for a short position. Good downside target (80.24 – 79.70) with limited upside risk, stop above 81.95.
USDCHF Forecast
The USDCHF continued its bearish momentum yesterday. As you can see on my h4 below price slipped below the bullish channel indicates a serious threat to the bullish outlook testing 0.9650 – 0.9600 support area. Immediate resistance at 0.9800. Break above that area would keep the bullish scenario intact testing 0.9877 – 0.9928 area.
EURJPY Forecast
The EURJPY continued its bullish momentum yesterday, topped at 114.89 and closed at 114.51. The bias remains bullish in nearest term testing 115.65. Immediate support at 113.75. Break below that area could lead us to neutral zone in nearest term but I think we are in a new bullish phase here.
GBPJPY Forecast
The GBPJPY had a significant bullish momentum yesterday, made a strong break out above the bearish channel as you can see on my h4 chart below indicates bearish failure and a potential new bullish outlook targeting 132.00 in nearest term. Immediate support at 129.82. Break below that area could lead us to neutral zone in nearest term as direction is unclear.
AUDUSD Forecast
The AUDUSD was volatile yesterday but overall still maintain its bullish bias, made a new historical high at 1.0064. The bias remains bullish in nearest term testing 1.0100 – 1.0150. Immediate support at 1.0000. Break below that area could trigger further bearish pullback testing 0.9917 area but only a violation to the bullish channel could be a threat to the current bullish outlook and probably make a strong bearish pullback scenario.
Labels: Forex Analysis, forex signal, Forex Trend
