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EURUSD Daily Forecast: March 30

EURUSD Forecast
The EURUSD was indecisive yesterday. The bias remains bearish in nearest term. Price is now struggling around the lower/support line of the rising wedge formation located around 1.2280 as you can see on my H4 chart below which is a good place to buy with a tight stop loss below 1.2280. Immediate resistance is seen around 1.2335. A clear break above that area could lead price to neutral zone in nearest term testing 1.2385 area. On the downside, a clear break below 1.2280 would confirm the rising wedge bearish scenario testing 1.2175 key support area which is a good place to buy with a tight stop loss as a clear break below 1.2175 would invalidate my major bullish trend.

GBPUSD Daily Forecast: March 30

GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday broke below 1.4075 support area, bottomed at 1.4010. The bias is bearish in nearest term testing 1.3950 region. Immediate resistance is seen around 1.4075. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. From a longer term technical perspective as you can see on my daily chart below, the failure to break above 1.4275 this week could create a double top formation with neckline seen at 1.3710 region. It is still a long way to go to confirm the double top scenario, as we would need a break below 1.3710, but we need a clear break above 1.4275 to resume the major bullish trend.

USDJPY Daily Forecast: March 30

USDJPY Forecast
The USDJPY was corrected lower yesterday bottomed at 106.25 and hit 106.13 earlier today in Asian session. The bias is neutral in nearest term. My H1 chart bullish bias remains valid, but price is moving inside a minor bearish channel as you can see on my H1 chart below suggests a bearish correction testing the trend line support and 105.90 region. A clear break below 105.90 would expose 105.30 and erase the H1 time frame bullish bias. On the upside, we need a clear break above the bearish channel and 106.50 area to resume the bullish phase testing 107.00 or higher. Overall I remain neutral.

USDCHF Daily Forecast: March 30

USDCHF Forecast
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. From another technical perspective as you can see on my daily chart below, price is moving inside a rising wedge formation, which is a bearish formation that will be confirmed by a breakout below the lower/support line of the wedge located around 0.9470 area. On the other hand, a clear break above the upper/resistance line of the rising wedge formation and 0.9650 could trigger further bullish scenario with nearest target seen at 0.9850. Overall I remain neutral.

EURUSD Daily Forecast: March 29

EURUSD Forecast
The EURUSD had a bearish momentum yesterday bottomed at 1.2298 after breaks below 1.2385 support area following a better than expected US final GDP data. The bias is bearish in nearest term testing the lower line of a rising wedge formation as you can see on my H4 chart below located around 1.2280. A clear break below the rising wedge would expose 1.2175 key support area. Immediate resistance is seen around 1.2385. A clear break back above that area could lead price to neutral zone in nearest term testing the upper line of the rising wedge formation. Overall I remain bullish but price is still trapped inside a 360-pip range area between 1.2537 – 1.2175 for more than 10 weeks now.

GBPUSD Daily Forecast: March 29

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday on broad USD rally after a better than expected US final GDP data and now struggling around 1.4075 support area as you can see on my daily chart below, which is a good place to buy with a tight stop loss as a clear break below 1.4075 would expose 1.4000 or lower. Immediate resistance is seen around 1.4125. A clear break above that area could lead price to neutral zone in nearest term testing 1.4175 – 1.4200 region. Overall I remain bullish.

USDJPY Daily Forecast: March 29

USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 107.00. The bias is bullish in nearest term testing 107.50 area. Immediate support is seen around 106.30. A clear break below that area could lead price to neutral zone in nearest term testing 105.90 region but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 107.50 would expose 108.25 or higher. Overall I remain neutral.

USDCHF Daily Forecast: March 29

USDCHF Forecast
The USDCHF had a strong bullish momentum yesterday topped at 0.9577. Price revisits the lower line of the (violated) bullish channel as you can see on my daily chart below, which is a good place to sell with a tight stop loss as a clear break above 0.9577 would invalidate the bearish phase testing 0.9650 resistance area or higher. Immediate support is seen around 0.9515. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish phase alive and kicking testing 0.9450 region. Overall I remain neutral.

EURUSD Daily Forecast: March 28

EURUSD Forecast
The EURUSD failed to continue its bullish momentum yesterday, slipped below 1.2385 but still unable to move consistently below that support and hit 1.2419 earlier today in Asian session. The bias is neutral in nearest term. Immediate support remains around 1.2385. A clear break below that area could trigger further bearish pressure testing 1.2350 – 1.2300 region. Immediate resistance is seen around 1.2440 followed by 1.2475 but key resistance remains at 1.2537 region which need to be clearly broken to the upside to end the current consolidation phase and resume the major bullish scenario.

GBPUSD Daily Forecast: March 28

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday slipped below 1.4075 support area but whipsawed to the upside and closed higher at 1.4155 and hit 1.4185 earlier today in Asian session. The bias is neutral in nearest term probably with a little bullish bias retesting 1.4243 resistance area. Immediate support is seen around 1.4150. A clear break below that area could trigger further bearish pressure retesting 1.4075 support area. On the upside, a clear break above 1.4243 would expose 1.4275 – 1.4344 key resistance area. Overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.

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