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EURUSD Daily Forecast

Finally, the EURUSD had significant movement yesterday. The pair broke above 1.4176 key level, topped at 1.4198 but closed lower at 1.4140. Technically the fact that 1.4176 was broken to the upside should setting up bullish scenario targeting 1.4336. However we need to be very patient since we will have NFP data today. If after NFP release the pair still able to maintain the bullish condition and stay above 1.4176, expect further bullish scenario. Immediate support is seen at 1.4050 – 1.4000 area. Break below that area should lead for further bearish pressure. CCI in overbought area and heading down on h4 chart suggesting potential downside consolidation.




GBPUSD Daily Forecast

The GBPUSD had indecisive movement yesterday, formed a Doji formation on daily chart. On h4 chart below we can see that the pair is struggling around trendline area. I think we are in no trading zone now and it’s better to stay away from the market. The bias is neutral in nearest term. Immediate resistance is seen at 1.6550 followed by 1.6660. Break above 1.6660 should trigger further bearish scenario in medium term. Initial support at 1.4350. CCI in neutral area both on h4 and daily chart.




USDJPY Daily Forecast

The USDJPY attempted to push higher yesterday, topped at 96.97 but closed lower at 96.64. The 96.70 resistance area was broken to the upside, but the bullish momentum is not convincing yet to set up a bullish outlook. On h4 chart below we can see that the trendline resistance has been violated to the upside but price attempted to retreat below the trendline indicating an intense battle around the trendline area. We need consistent move above 96.70 to confirm bullish scenario.




USDCHF Daily Forecast

The USDCHF had a bearish momentum yesterday. On h4 chart below we can see that the the triangle was broken to the downside indicating bearish outlook. The bias is bearish in nearest term targeting 1.0650. Immediate resistance is seen at 1.0770. Break above that area should take us back into no trading zone. CCI just cross he -100 line down on daily chart suggesting potential downside pressure.



Have a great day!