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EURUSD Daily Forecast: July 20

EURUSD Forecast
The EURUSD had another indecisive movement yesterday. Price attempted to push lower, bottomed at 1.1575 but whipsawed to the upside a closed higher at 1.1641. The bias is neutral in nearest term probably with a little bullish bias. Price slipped above the trend line resistance and EMA 200 as you can see on my H1 chart below but still unable to stay consistently above those two resistances. Immediate resistance is seen around 1.1678. A clear break above that area would expose 1.1725/50 region. Immediate support is seen around 1.1600 – 1.1575. A clear break and daily close below that area would keep the bearish phase strong testing 1.1510/00 key support area.

GBPUSD Daily Forecast: July 20

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday, bottomed at 1.2957 but closed higher back above 1.3000 psychological support level. The bias is neutral in nearest term. Overall price is still in a bearish phase but note that as long as 1.3000 support area holds, a significant bullish pullback is potential. Immediate resistance is seen around 1.3050. A clear break above that area would expose 1.3100. On the downside, a clear break and daily/weekly close below 1.2950 would target 1.2750 area next week.

USDJPY Daily Forecast: July 20

USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 112.05 after another failure to break above 113.00. The bias is bearish in nearest term testing 111.90 but note that only a clear break back below 111.40 would invalidate my bullish outlook. Immediate resistance is seen around 112.60. A clear break above that area could lead price to neutral zone in nearest term retesting 113.00 area which need to be clearly broken to the upside to resume the major bullish trend.

USDCHF Daily Forecast: July 20

USDCHF Forecast
The USDCHF was volatile but indecisive yesterday. The bias remains neutral in nearest term. Key resistance remains around 1.0055 which is a good place to sell with a tight stop loss. Immediate support is seen around 0.9950. A clear break and daily/weekly close below that area would retest 0.9855 area or lower next week. On the upside, a clear break and daily/weekly close above 1.0055 would expose 1.0100 – 1.0170 region next week.

EURUSD Daily Forecast: July 19

EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push lower bottomed at 1.1602 but closed a little bit higher at 1.1638 in a thin market condition. The bias is neutral in nearest term. Immediate resistance is seen around 1.1660. A clear break above that area could trigger further bullish pressure testing 1.1725/50 area. Immediate support is seen around 1.1600. A clear break below that area could trigger further bearish pressure retesting 1.1510/00 key support area which need to be clearly broken to the downside to resume the major bearish run from 1.2555.

GBPUSD Daily Forecast: July 19

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday bottomed at 1.3010 but closed higher at 1.3068. The bias is neutral in nearest term. Overall price is still in a bearish phase but 1.3000 key support area remains a good place to buy. Immediate resistance is seen around 1.3100. A clear break above that area could trigger further bullish pressure testing the upper line of the bearish channel and 1.3200 region. On the downside, a clear break below 1.3000 would expose 1.2750 region.

USDJPY Daily Forecast: July 19

USDJPY Forecast
The USDJPY attempted to push higher yesterday topped at 113.13 but closed lower at 112.83, printed a bearish pin bar as you can see on my daily chart below. The bias is neutral in nearest term. Overall I remain bullish but need a clear break above 113.13 to invalidate the bearish pin bar scenario and resume the bullish trend testing 113.70 – 114.00 region. Immediate support is seen around 112.35. A clear break below that area could trigger further bearish pullback testing 111.90 area but only a clear break back below 111.40 would invalidate my major bullish outlook.

USDCHF Daily Forecast: July 19

USDCHF Forecast
The USDCHF attempted to push higher yesterday topped at 1.0034 but closed lower at 0.9989, printed a bearish pin bar on daily chart and hit 0.9980 earlier today in Asian session. The bias is neutral in nearest term probably with a little bearish bias retesting the H4 EMA 200 located around 0.9930. On the upside, 1.0055 remains a key resistance area and good place to sell with a tight stop loss.

EURUSD Daily Forecast: July 18

EURUSD Forecast
The EURUSD attempted to push higher yesterday topped at 1.1744 but whipsawed to the downside and closed lower at 1.1660. The bias is bearish in nearest term especially if price able to make a clear break below 1.1650 testing 1.1600 – 1.1550 area as a part of the H&S bearish scenario. Immediate resistance is seen around 1.1695. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.1750 area.

GBPUSD Daily Forecast: July 18

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.3068. The bearish pin bar at the EMA 200 as you can see on my H4 chart below gave a valid bearish signal. The bias is bearish in nearest term testing 1.3050 – 1.3000 key support area which is a good place to buy with a tight stop loss as a clear break below 1.3000 could trigger further bearish scenario exposing 1.2750 area. Immediate resistance is seen around 1.3150. A clear break above that area could lead price to neutral zone in nearest term testing 1.3200 area.

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