EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.3400 but whipsawed to the downside, closed at 1.3248 and hit 1.3219 earlier today in Asian session. I have made some adjustment to my bearish channel. On h4 chart below we can see price slipped below the bullish channel (blue) indicates the bullish correction might be over now targeting 1.3180/50 in nearest term. Immediate resistance at 1.3280 (current high). Break above that area would keep the bullish correction scenario intact re-testing 1.3400/38 key resistance area and may create a range market between 1.3400 – 1.3200.
GBPUSD Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.5821 but further upside pressure was limited and closed lower at 1.5754. The bias is neutral in nearest term. The major scenario remains bearish but we still have a little space for another upside correction attempt testing the upper line of the bearish channel as market remains volatile without consistent momentum. Another move above 1.5787 could trigger further bullish momentum testing 1.5850 area. On the downside, we need a clear break below 1.5650 support area to continue the bearish scenario targeting 1.5550 – 1.5500 this week.
USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday, topped at 83.65 and hit 83.90 earlier today in Asian session after made a strong break above 82.87 as you can see on my h4 chart below. The bias is bullish in nearest term testing 84.40 but unless price makes a clear break above 84.40 my medium term outlook remains neutral. Immediate support at 83.47 (current low). Break below that area could lead us to neutral zone in nearest term as direction is unclear testing 82.87.
USDCHF Forecast
The USDCHF attempted to push lower yesterday, bottomed at 0.9756 but whipsawed to the upside and closed higher at 0.9878. On h4 chart below we can see price is moving in a wide bullish channel reflects a major bullish scenario but with potential big downside corrections. The bias is bullish in nearest term testing 1.0000. We need a clear break above 1.0000 to continue the bullish scenario targeting 1.0182. Immediate support at 0.9850. Break below that area could lead us to neutral zone in nearest term re-testing 0.9756.
EURJPY Forecast
The EURJPY had a bullish momentum yesterday after failed to break below 109.55, topped at 111.10 and closed at 110.60 in a volatile market. The bias is bullish in nearest term especially if price able to make a clear break above 111.19 targeting 111.91 area. Immediate support at 110.58 (current low). Break below that area could lead us to neutral zone both in nearest and medium term as direction is unclear and may create a range market between 109.55 – 111.19.
GBPJPY Forecast
The GBPJPY had a significant bullish momentum yesterday, topped at 131.77 and closed at 131.51, made a huge bullish candle on daily chart. The bias is bullish in nearest term especially if price able to make another strong break out above 132.00 targeting 133.00 and would be a serious threat to the major bearish outlook. Immediate support at 130.84. Break below that area would keep the major bearish scenario intact re-testing 129.33 strong support area.
AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9964 but whipsawed to the downside, closed lower at 0.9831 and hit 0.9779 earlier today in Asian session. On h4 chart below we can see price slipped below the bullish channel indicates potential bearish outlook as bullish correction phase could be over testing 0.9710. Immediate resistance at 0.9855. Break above that area could lead us to neutral zone in nearest term but as long as price moves below 1.0000 my bearish reversal scenario remains valid.
