Daily Technical Analysis

Daily Technical Analysis
EURUSD Outlook

Yesterday the daily CCI gave us a valid warning about an upside correction potential of EURUSD. The pair topped at 1.4907 and closed at 1.4896. I am expecting further upside scenario towards 1.4975. We have a valid bullish channel on hourly and 4h chart. As long as these channels are not violated we still have a potential further bullish scenario. Immediate support is seen at 1.4820 followed by 1.4750. Initial resistance at 1.4925 followed by 1.4975. CCI just cross 100 line down on hourly chart and in overbought area on 4h chart suggesting a downside risks as the pair is traded near the bullish channel resistance line.

EURUSD Daily Supports and Resistances:

S1= 1.4782
S2= 1.4668
S3= 1.4606
R1= 1.4958
R2= 1.5020
R3= 1.5134
GBPUSD Outlook

Yesterday the Sterling recovered against Greenback. The GBPUSD was corrected higher, topped at 1.8793 and closed at 1.8776. Technically this fact open the door for a further upside correction move towards 1.8960 area. Immediate support is seen at 1.8740 followed by 1.8666. Initial resistance at 1.8850. We have a valid bullish channel on hourly and 4h chart. As long as these channels are not violated we still have a potential further bullish correction scenario. CCI just cross 100 line down on hourly chart and in overbought area on 4h chart suggesting a downside risks towards bullish channel support line.

GBPUSD Daily Supports and Resistances:

S1= 1.8657
S2= 1.8539
S3= 1.8471
R1= 1.8843
R2= 1.8911
R3= 1.9029
USDJPY Outlook

Yesterday the Greenback slumped against Japanese Yen. The pair bottomed at 108.13 and closed at 108.47. My model is mixed with downside bias. A consistent move below 108.50 would open the door towards 107.35. Immediate support is seen at 108.11. Initial resistance at 108.90 followed by 109.50. CCI about to cross -100 line up on 4h chart suggesting an upside risks.

USDJPY Daily Supports and Resistances:

S1= 107.79
S2= 107.11
S3= 106.10
R1= 109.48
R2= 110.49
R3= 111.17
USDCHF Outlook

Like all other major currencies, yesterday the Swiss Franc was traded stronger against Greenback. The pair breakout to the downside from ranging area, bottomed at 1.0842 and closed at 1.0864. My model is mixed with downside bias. Immediate support is seen at 1.0828. Initial resistance at 1.0896 followed by 1.0930. CCI about to cross -100 line up on 4h chart suggesting an upside risks.

USDCHF Daily Supports and Resistances:

S1= 1.0805
S2= 1.0746
S3= 1.0651
R1= 1.0959
R2= 1.1054
R3= 1.1113

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