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EURUSD Daily Forecast: August 16

EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.1301 but closed higher 1.1345, printed a bullish pin bar as you can see on my daily chart below. Price continues to move higher earlier today in Asian session hit 1.1382. The bias is bullish in nearest term testing 1.1430. Immediate support is seen around 1.1335 (current low). A clear break below that area could lead price to neutral zone in nearest term testing 1.1300 region which need to be clearly broken to the downside to invalidate the bullish pin bar scenario and resume the major bearish trend testing 1.1250/00 support area or lower. Overall I remain bearish.

GBPUSD Daily Forecast: August 16

GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday bottomed at 1.2661 but traded higher earlier today in Asian session hit 1.2721. The bias remains bearish in nearest term testing 1.2650/00 region. Immediate resistance is seen around 1.2730. A clear break above that area could lead price to neutral zone in nearest term testing 1.2765 or higher but overall I remain bearish and any upside pullback is normal and should be seen as a good opportunity to sell.

USDJPY Daily Forecast: August 16

USDJPY Forecast
The USDJPY failed to continue its bullish momentum yesterday bottomed at 110.43. The bias is neutral in nearest term. Immediate support is seen around 110.45 (current low). A clear break below that area could trigger further bearish pressure retesting the daily EMA 200 and 110.00 support area which need to be clearly broken to the downside to resume the bearish phase after failed to break above 113.00 area. Immediate resistance is seen around 111.00. A clear break above that area could trigger further bullish pressure testing 111.55 area.

USDCHF Daily Forecast: August 16

USDCHF Forecast
The USDCHF attempted to push higher yesterday topped at 0.9982 but whipsawed to the downside and closed lower at 0.9935. The bias is neutral in nearest term probably with a little bearish bias testing 0.9865 area. Immediate resistance is seen around 0.9950. A clear break above that area could trigger further bullish pressure testing 0.9990 region. Overall I remain neutral.

EURUSD Daily Forecast: August 15

EURUSD Forecast
The EURUSD continued its bearish momentum yesterday after failed to break above 1.1430 resistance area, bottomed at 1.1330 and hit 1.1325 earlier today in Asian session. The bias is bearish in nearest term testing 1.1280 – 1.1250 region. Immediate resistance is seen around 1.1365. A clear break above that area could lead price to neutral zone in nearest term testing 1.1430 area but overall I remain bearish and any upside pullback now is normal and should be seen as a good opportunity to sell.

GBPUSD Daily Forecast: August 15

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.2827 but whipsawed to the downside, closed lower at 1.2716 and hit 1.2693 earlier today in Asian session. The bias remains bearish in nearest term testing 1.2650/00 region. Immediate resistance is seen around 1.2730. A clear break above that area could lead price to neutral zone in nearest term testing 1.2825 area but overall I remain bearish and any upside pullback is normal and should be seen as a good opportunity to sell.

USDJPY Daily Forecast: August 15

USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 111.31 and hit 111.43 earlier today in Asian session after bounced-off the daily EMA 200 as you can see on my daily chart below. The bias is bullish in nearest term testing 111.55 – 112.00 region. Immediate support is seen around 111.00. A clear break below that area could lead price to neutral zone in nearest term testing 110.75 or lower.

USDCHF Daily Forecast: August 15

USDCHF Forecast
The USDCHF had another indecisive movement yesterday. Price traded higher earlier today in Asian session hit 0.9964. The bias is bullish in nearest term testing 0.9990. A clear break and daily close above that area would expose 1.0055 key resistance. Immediate support is seen around 0.9935. A clear break below that area could lead price to neutral zone in nearest term testing 0.9865. Overall I remain neutral.

EURUSD Daily Forecast: August 14

EURUSD Forecast
The EURUSD attempted to push lower yesterday bottomed at 1.1365 but closed higher at 1.1409. The bias is neutral in nearest term probably with a little bullish bias especially if price able to move consistently above 1.1430 testing 1.1500 region but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 1.1385. A clear break below that area could trigger further bearish pressure testing 1.1350/00 support area.

GBPUSD Daily Forecast: August 14

GBPUSD Forecast
The GBPUSD didn’t make significant movement yesterday but overall still able to maintain is bearish bias. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 1.2650 region. Immediate resistance is seen around 1.2825. A clear break above that area could lead price to neutral zone in nearest term but overall I remain bearish and any upside pullback is normal and should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 1.2650 would expose 1.2500 region.

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