EURJPY Daily Forecast
The EURJPY had a significant bearish momentum yesterday. On h4 chart below we can see that the pair has break below important level around 134.80 area. For me this fact is a failure (or at least a pause) of the bullish scenario in medium term. The bias is bearish in nearest term targeting 132.30 area. Immediate resistance at 135.35 area.
EURUSD Daily Forecast
The EURUSD had a significant bearish momentum yesterday. The pair break below key support level 1.3790, bottomed at 1.3755 but closed a little bit higher at 1.3801. On daily chart below we have a head and shoulder formation suggesting a potential bearish reversal scenario with 1.3790 as the neckline. However we need consistent move below 1.3790 area to confirm the bearish scenario targeting 1.3650 in nearest term. CCI just cross the -100 line up on hourly chart so watch out for potential upside pressure testing 1.3850 – 1.3900 resistance area. Break above that area should take us into no trading zone.
GBPUSD Daily Forecast
The GBPUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.6241 and closed at 1.6317. On h4 chart below we can see that the pair is making a new bearish channel. Immediate support is seen at 1.6240. Break below that area should trigger further bearish momentum targeting 1.6100 even testing key support level around 1.5790 in medium term. Initial resistance at 1.6350. Break above that area could lead us into no trading zone.
By FXinstructor
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