EURUSD Outlook
The EURUSD bearish channel on 4h chart has been violated to the upside. On another point of view, the pair also broke the rectangle pattern (ranging market 1.3830 - 1.4125) to the upside. The bias is on the upside in nearest term. A consistent movement above 1.4125 area could trigger further bullish momentum testing 1.4300 resistance level. Immediate support is seen at 1.4100 followed by 1.4050. CCI in overbought area on 4h chart but movement below 100 line is rejected suggesting a potential bullish momentum continuation.
eurusd4hchart7
EURUSD Daily Supports and Resistances:
* S1= 1.4025
* S2= 1.3990
* S3= 1.3944
* R1= 1.4106
* R2= 1.4152
* R3= 1.4187
GBPUSD Outlook
The GBPUSD continued it’s bearish momentum on Friday. The pair bottomed at 1.4650 and closed at 1.4652. We still have bearish price channel on hourly chart. The bias remains bearish. Only a violation of the bearish channel would be a violation to the current bearish scenario. Immediate resistance is seen at 1.4730. A break above that level would change the bias into neutral area. CCI in neutral area on hourly chart.
gbpusdhourly6
GBPUSD Daily Supports and Resistances:
* S1= 1.4603
* S2= 1.4553
* S3= 1.4456
* R1= 1.4750
* R2= 1.4847
* R3= 1.4897
USDJPY Outlook
The USDJPY didn’t make a significant movement on Friday. On hourly chart we can see that after violated the bullish channel, the pair is moving in a rectangle pattern, which is a consolidation/continuation of the current bullish short term trend. The bias remains to the upside. I am expecting a breakout to the upside of the rectangle formation and targeting 91.60 resistance area. Immediate support is seen at 90.20.
usdjpyhourly13
USDJPY Daily Supports and Resistances:
* S1= 90.43
* S2= 90.21
* S3= 90.06
* R1= 90.80
* R2= 90.95
* R3= 91.17
USDCHF Outlook
After breakout to the downside from the descending tringle formation on 4h chart, the USDCHF continued it’s bearish momentum. The bias remains bearish testing 1.0410 area again. Immediate resistance is seen at 1.0687. CCI in oversold area both in hourly and 4h chart suggesting a potential minor upside pressures.
usdchf4hchart4
USDCHF Daily Supports and Resistances:
* S1= 1.0641
* S2= 1.0606
* S3= 1.0543
* R1= 1.0739
* R2= 1.0802
* R3= 1.0837
Have a great day!
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The EURUSD bearish channel on 4h chart has been violated to the upside. On another point of view, the pair also broke the rectangle pattern (ranging market 1.3830 - 1.4125) to the upside. The bias is on the upside in nearest term. A consistent movement above 1.4125 area could trigger further bullish momentum testing 1.4300 resistance level. Immediate support is seen at 1.4100 followed by 1.4050. CCI in overbought area on 4h chart but movement below 100 line is rejected suggesting a potential bullish momentum continuation.
eurusd4hchart7
EURUSD Daily Supports and Resistances:
* S1= 1.4025
* S2= 1.3990
* S3= 1.3944
* R1= 1.4106
* R2= 1.4152
* R3= 1.4187
GBPUSD Outlook
The GBPUSD continued it’s bearish momentum on Friday. The pair bottomed at 1.4650 and closed at 1.4652. We still have bearish price channel on hourly chart. The bias remains bearish. Only a violation of the bearish channel would be a violation to the current bearish scenario. Immediate resistance is seen at 1.4730. A break above that level would change the bias into neutral area. CCI in neutral area on hourly chart.
gbpusdhourly6
GBPUSD Daily Supports and Resistances:
* S1= 1.4603
* S2= 1.4553
* S3= 1.4456
* R1= 1.4750
* R2= 1.4847
* R3= 1.4897
USDJPY Outlook
The USDJPY didn’t make a significant movement on Friday. On hourly chart we can see that after violated the bullish channel, the pair is moving in a rectangle pattern, which is a consolidation/continuation of the current bullish short term trend. The bias remains to the upside. I am expecting a breakout to the upside of the rectangle formation and targeting 91.60 resistance area. Immediate support is seen at 90.20.
usdjpyhourly13
USDJPY Daily Supports and Resistances:
* S1= 90.43
* S2= 90.21
* S3= 90.06
* R1= 90.80
* R2= 90.95
* R3= 91.17
USDCHF Outlook
After breakout to the downside from the descending tringle formation on 4h chart, the USDCHF continued it’s bearish momentum. The bias remains bearish testing 1.0410 area again. Immediate resistance is seen at 1.0687. CCI in oversold area both in hourly and 4h chart suggesting a potential minor upside pressures.
usdchf4hchart4
USDCHF Daily Supports and Resistances:
* S1= 1.0641
* S2= 1.0606
* S3= 1.0543
* R1= 1.0739
* R2= 1.0802
* R3= 1.0837
Have a great day!
