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EURUSD Forecast
The EURUSD was volatile up and down yesterday but overall still maintain its strong bullish intraday bias after hold above 1.4320 key support area and hit 1.4484. The bias remains bullish in nearest term testing the upper line of the triangle and 1.4500/50 region. That area might provide a good intraday resistance, but a clear break above the triangle could trigger further bullish scenario testing June 07 high at 1.4695 . Price is in a critical point now as whatever happen to the triangle could determine the next scenario. Immediate support at 1.4400. A clear break below that area could lead us to neutral zone in nearest term but as long as price stays above 1.4320 my overall intraday bias remains to the upside.

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EURJPY Forecast
The EURJPY was volatile yesterday but overall still maintain its bullish intraday bias and now testing the trend line resistance as you can see on my h4 chart below.  The bias remains bullish in nearest term. The trend line resistance and 117.88 resistance area could provide a good intraday resistance but a clear break above that area could change the major bias to bullish testing 119.77 even 123.31. Immediate support remains at 115.80 – 116.00. A failure to make a clear break above the trend line resistance a movement back below 115.80 would keep the bearish scenario since the fall from 123.31 remains intact.

GBPJPY  Forecast
The GBPJPY was volatile but indecisive yesterday. The bias is neutral in nearest term but overall price is still in a bullish intraday outlook since broke above the falling wedge formation as you can see on my hourly chart below, still testing 130.20 resistance area and I still prefer a bullish intraday outlook at this phase. The major bearish scenario since the fall from 140.00 remains intact and the current bullish intraday outlook should be seen just as a correction moves but would need a clear break below 128.20 to continue the bearish scenario as the falling wedge bullish scenario would have failed. Immediate support remains around 129.00. A clear break below that area could trigger further bearish pressure testing 128.60 – 128.20 support area.

AUDUSD Forecast
The AUDUSD continued its strong intraday bullish momentum yesterday and hit 1.0745 earlier today in Asian session. The bias remains bullish in nearest term testing 1.0770. A clear break above that area could trigger further bullish continuation testing 1.0887 even the all time high at 1.1010. Immediate support at 1.0650. I do not expect consistent movement below that area today as it would be a threat to the current strong intraday bullish outlook retesting 1.0500/50 support area and reactivate my wait and see mode.

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GBPUSD  Forecast
The GBPUSD was volatile yesterday but overall the intraday bias was more to the upside and now struggling around 1.6070 region. From another technical point of view as you can see on my hourly chart below, price is forming a rounding bottom bullish formation suggests potential bullish scenario especially if price able to make a clear break above 1.6070 testing 1.6148 – 1.6200.  Immediate support at 1.6000. A failure to make a clear break above 1.6070 and movement back below 1.6000 could trigger further bearish pressure testing 1.5950 – 1.5900 support area.

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USDJPY Forecast
The USDJPY bullish momentum was paused yesterday and now testing 80.50 support area. A clear break below that area could trigger further bearish pressure testing 80.00 – 79.55 which would keep price a little bit longer in sideways condition between 79.55 – 82.20. I think the best intraday strategy remains to long around 80.00 – 79.55 or short around 82.20 with tight stop loss. The lack of direction and momentum should place risk – reward ratio aspect in a very important point. Be patient and do not rush jump into the market unless you are a long term trader with proper money management plan.

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USDCHF Forecast
The USDCHF made another indecisive movement yesterday, made another Doji on daily chart. There are no changes in my daily technical outlook where overall bias remains strongly to the downside probably aim for new historical low projection around 0.8200. Let’s take a broader look on daily chart below to get our mind refreshed. The characteristic during the bearish momentum is how broken supports become resistances. From that point of view, as long as price stays below 0.8555 the bearish scenario should remain strong and only a clear break above 0.8555 could stop the current bearish outlook. Note that this pair is in a record low right now, which may attract some long term buying speculations. CCI bullish divergence seen on daily chart might give a good reason to do that. However, for intraday/short term trader, buy position is not recommended until a movement above 0.8555.

This technical analysis video uses support and resistance levels to come up with some trading ideas for EUR/USD and EUR/CHF for today’s Forex trading session.

Posted on Forex Video Zone.

June 29 session preview for the USD/CHF and USD/JPY currency pairs is presented in this technical analysis video. It is based on support and resistance lines.

Posted on Forex Video Zone.

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EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.4236 but further bearish pressure was rejected and whipsawed to the upside, topped at 1.4396 and hold above 1.4320 after market reacted positively on Greece budget plan approval. Overall price is still in a consolidation phase inside the triangle formation but the fact that price broke above 1.4320 change my intraday bias to bullish especially if price able to make a clear break above 1.4400 and the minor trend line resistance (blue) testing 1.4441 – 1.4500 and the upper line of the triangle. On the downside, another move back below 1.4320 could lead us to neutral zone in nearest term testing 1.4250/30 region and give another chance for downside attempt retesting the lower line of the triangle but as long as price moves inside the triangle my h4 /daily chart outlook remains unclear.

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EURJPY Forecast
The EURJPY continued its bullish momentum yesterday after broad Euro strength triggered by the approval of Greece budget plan broke above 115.80 and now seems ready to test the trend line resistance as you can see on my h4 chart below which located around 117.00/20. A clear break above the trend line resistance could lead us to a new technical bullish outlook testing 123.31 in longer term view. Immediate support at 115.80 – 116.00. A clear break back below that area would lead us to neutral zone in nearest term but would keep price below the trend line resistance and keep the bearish scenario since the fall from 123.31 remains intact.

GBPJPY  Forecast
The GBPJPY continued its bullish intraday momentum yesterday and broke above the falling wedge as you can see on my hourly chart below suggests potential further bullish pressure testing 130.20 in nearest term. This fact gives us an early signal of bullish reversal scenario especially if price able to make a clear break above 130.20 testing 132.30 region. Immediate support around 129.00. A clear break back below that area would lead us to neutral zone in nearest term as direction would become unclear and activate my wait and see mode.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday on broad US Dollar weakness triggered by Greece budget approval and hit 1.0576 earlier today in Asian session. This fact stops my bearish intraday outlook and the bias is bullish in nearest term testing 1.0650 since the rejection to break below 1.0388 strong support area. Immediate support at 1.0500. A clear break back below that area could trigger further bearish attempted retesting 1.0388 and keep the bearish scenario since the fall from 1.1010 remains strong.

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GBPUSD  Forecast
The GBPUSD was volatile but indecisive yesterday, made a Doji on daily chart. Price attempted to push lower, bottomed at 1.5910 but broad US Dollar weakness triggered by positive reaction to Greece budget plan prevented a further drop and now struggling around 1.6000. The bias is neutral in nearest term. My overall intraday outlook remains to the downside but as you can see on my hourly chart below price has been moving in a range area of 1.5910 – 1.6070 since June 23 suggests a consolidation phase and need a clear break on either side to see clearer direction.  A clear break above 1.6070 could trigger further bullish momentum testing 1.6148 – 1.6200 region while a clear break below 1.5910 could trigger further bearish momentum testing 1.5820/00.