EURUSD Forecast
The EURUSD attempted to push lower earlier today in Asian session, hit 1.3181 but corrected a little bit higher around 1.3230 at the time I wrote this comment. Price still able to maintain position below the bullish channel indicates potential further bearish pressure. The bias remains bearish in nearest term testing 1.3100 especially if we have another strong break below 1.3181. Immediate resistance at 1.3290. Break above that area could lead us to neutral zone in nearest term testing 1.3333/50 but overall we are still in strong bearish phase.
GBPUSD Forecast
The GBPUSD had a bearish momentum on Friday, bottomed at 1.5576 and closed at 1.5588. On h4 chart below we can see price had strong bearish momentum after made two consecutive strong breakdown below 1.5750 and 1.5650 support area suggests a strong bearish phase. The bias remains bearish in nearest term testing 1.5500. Immediate resistance at 1.5650. Break above that area could lead us to neutral zone in nearest term testing 1.5700 – 1.5750 but as long as price moves inside the bearish channel we are still in bearish phase.
USDJPY Forecast
The USDJPY finally made a clear breakout above the range area, topped at 84.18 and closed at 84.09 on Friday. The bias is bullish in nearest term targeting 84.70. Immediate support at 83.70. Break below that area could lead us to neutral zone as direction would become unclear but I still prefer a bullish scenario at this phase.
USDCHF Forecast
The USDCHF still struggling around 1.0000 area so far. The bias is neutral in nearest term but still within a potential bullish scenario targeting 1.0182 especially if price able to consistently move above 1.0050. Immediate support at 0.9950/20. Break below that area would lead us back to range market condition and re-activate my wait and see mode.
EURJPY Forecast
The EURJPY made another volatile but indecisive movement on Friday. On h4 chart below we can seen price is now moving in a range area again between 111.91 – 110.30. Aggressive intra-day traders may short around 111.91 or long around 110.30 with tight stop loss. We know that this pair has been traded in range condition for the last two months now so taking advantage from this range condition could be a good idea.
GBPJPY Forecast
The GBPJPY had a bearish momentum on Friday after failed to make a clear break above 132.00 area. The bias is bearish in nearest term but I think we still need a clear break below 130.84 to continue the bearish scenario targeting 129.83. Immediate resistance remains at 132.00. Clear break above that area could trigger further bullish momentum testing 133.00 region.
AUDUSD Forecast
The AUDUSD had a bearish momentum on Friday, bottomed at 0.9611 and hit 0.9584 earlier today in Asian session. The bias is bearish in nearest term testing 0.9550. Immediate resistance at 0.9681 (current high). Break above that area could lead us to neutral zone in nearest term testing 0.9750 but overall we are still in bearish phase.
Labels: Forex Analysis, forex signal, Forex Trend
