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EURUSD Forecast
The EURUSD failed to continue its bullish momentum yesterday, unable to make a breakout above the triangle and formed a double top formation as you can see on my hourly chart below. This fact keeps price in consolidation phase. The bias is neutral in nearest term but the double top formation could trigger further bearish pullback testing 1.4300 – 1.4270 support area, even retesting the lower line of the triangle. Immediate resistance is seen around 1.4420 followed by 1.4475.  Overall there are no changes in my technical outlook and we need a clear break from the triangle to see clearer direction.

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EURJPY Forecast
The EURJPY failed to continue its bullish correction yesterday after unable to make a break above 111.25 resistance area and hit 110.09. The bias is neutral in nearest term but the bullish failure could create a bearish intraday view testing 109.45 support area. A clear break and daily close below 109.45 would reopen the door for another retest of 106.57 and keep the major bearish scenario remains strong. Immediate resistance is seen around 110.75. A clear break above that area could change the intraday bias back to bullish retesting 111.25 and would reopen the door for further bullish correction testing 112.90 – 113.40 and the trend line resistance. As long as price stays below the trend line resistance my overall technical bias remains to the downside and I still prefer a bearish scenario at this phase.

GBPJPY  Forecast
The GBPJPY was indecisive yesterday but overall still able to maintain its bullish correction bias. The bias is neutral in nearest term. Any bullish pullback now is normal and should be seen just as a corrective move unless price breaks above the trend line resistance. Immediate support is seen around 125.75. A clear break below that area could change the intraday bias back to bearish testing 125.27 – 124.85 support area. On the upside, we need a clear break above 126.40 to continue the bullish correction scenario testing 127.02 and the trend line resistance.

AUDUSD Forecast
The AUDUSD was volatile but indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term with potential intraday range between 1.0525 – 1.0369. Price is still in a bullish intraday phase since the strong upside pullback after touched the trend line support, but need a clear break above 1.0525 to continue the bullish scenario. On the other hand, a clear break below 1.0369 could reopen the door for another retest of the trend line support.

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GBPUSD  Forecast
The GBPUSD continued its bullish momentum yesterday, but found a good resistance around 1.6473 as you can see on my daily chart below and bounced lower earlier today in Asian session hit 1.6411. The bias is neutral in nearest term. Overall price is still moving in a sideways mode and need a clear break and daily close above 1.6473 to continue the bullish scenario testing 1.6745. Immediate support is seen around 1.6380. A clear break below that area could trigger further bearish pressure testing 1.6300 and reopen the door for further bearish pullback testing 1.6310 even 1.6192 support area.

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USDJPY Forecast
The USDJPY made another indecisive movement yesterday. There are no changes in my technical outlook. Expected intraday range between 76.21 – 77.21. The major scenario remains strongly to the downside but need a clear break below 76.21 to continue the bearish scenario testing 75.00. On the upside, a clear break above 77.21/50 could trigger further bullish pullback testing 78.50 but as long as price stays below 79.55 my overall technical bias remains strongly bearish.

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EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.4475 as a bullish continuation after bounced from the lower line of the triangle as you can see on my hourly chart below. The bias remains bullish in nearest term testing 1.4500/77 region and the upper line of the triangle. A clear/valid breakout from the triangle could lead price to a new bullish phase testing 1.4695. Price has been moving in a consolidation phase especially in the last three weeks and we need a breakout from the triangle to see clearer direction. Immediate support is seen around 1.4400 – 1.4370. A clear break back below that area could lead price to a neutral zone in nearest term testing 1.4300 – 1.4270 support area and keep price in consolidation a little bit longer.

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EURJPY Forecast
The EURJPY had a bullish momentum yesterday, topped at 111.02 and closed at 110.89. The bias is bullish in nearest term especially if price able to make another break above 111.25 testing the trend line resistance and 112.90 – 113.40 region. However note that as long as price stays below the trend line resistance, the major bearish scenario remains intact and the current bullish intraday outlook should be seen just as a corrective move and only a movement above the trend line resistance could end the bearish scenario and begin a new bullish phase. Immediate support is seen around 110.20. A clear break below that area could change the intraday bias to bearish retesting 109.45 support area and keep the major bearish scenario remains strong.

GBPJPY  Forecast
The GBPJPY had a bullish momentum yesterday, topped at 125.99. The bias is bullish in nearest testing 127.02 and the trend line resistance. However note that as long as price stays below the trend line resistance the overall technical outlook remains bearish and the current intraday bullish bias must be seen just as a corrective move and only a movement above the trend line resistance could be a serious threat to the bearish outlook and open the door for a new bullish phase.

AUDUSD Forecast
The AUDUSD continued its bullish bias yesterday, topped at 1.0512 and closed at 1.0485. The bias remains bullish in nearest term especially if price able to make another breakout above 1.0525 testing 1.0678 region. Immediate support is seen around 1.0450/20 region. A clear break back below that area could lead price to neutral zone in nearest term testing 1.0380 area.

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GBPUSD  Forecast
The GBPUSD had a bullish momentum yesterday, topped at 1.6408 after made a clear break above 1.6310. The bias is bullish in nearest term testing 1.6473. However note that overall price is still moving in a sideways mode in the last four weeks and need a clear break and daily closed above 1.6473 to continue the bullish scenario, aiming for 1.6745 region. Immediate support is seen around 1.6310 – 1.6270. A clear break back below that area could lead price to a neutral zone in nearest term testing 1.6192.

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USDJPY Forecast
The USDJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term. There are no changes in my technical outlook where price is still in a strong technical bearish bias, testing key support 76.21. A clear break below that area could trigger further bearish scenario aiming for a new record low around 75.00. Immediate resistance remains around 77.30/50. A clear break above that area could trigger further bullish pullback testing 78.50 but as long as price stays below 79.55 my overall technical bias remains bearish.

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EURUSD Forecast
The EURUSD had another indecisive movement last week. Price attempted to push lower bottomed at 1.4102, but found a support at the lower line of the triangle as you can see on my h4 chart below, closed higher at 1.4282 on Friday and hit 1.4316 earlier today in Asian session.  While my short term technical bias has changed to bullish after the bounce from the lower line of the triangle and a slip above 1.4290 – 1.4300 area testing 1.4370 – 1.4400, there are no changes in my technical outlook and as long as price stays inside the triangle the direction is unclear and price is still in consolidation phase. Immediate support is seen around 1.4250 – 1.4200. A clear break below that area could change the intraday bias back to bearish retesting 1.4150 – 1.4100 support area. Three Dojis in the last three weeks simply suggests unclear direction and inconsistent momentum and I will keep stand aside for now.

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GBPUSD  Forecast
The GBPUSD attempted to push lower last week, bottomed at 1.6109 but closed higher and back above 1.6192, hit 1.6303 earlier today in Asian session. The bias is neutral in nearest term but a clear break and daily close above 1.6310 could trigger further bullish pullback testing 1.6473 key resistance area. On the downside, only a movement back below 1.6192 could change the bias back to bearish. Overall, there is no clear direction for now and we need a clear break above 1.6473 or below 1.6192 to see clearer direction.