EURUSD
The EURUSD didn’t make significant movement yesterday and still trapped inside range area. The bias is neutral in nearest term. There are no changes in my technical outlook. We need a clear break from the triangle to see clearer direction. All eyes will be on the FOMC meeting which expected to be a catalyst for a breakout. A clear break above 1.1300 could trigger further bullish pressure testing 1.1400 – 1.1450 region. On the other hand, a clear break below 1.1130 could trigger further bearish pressure testing 1.1000 and the lower line of the bullish channel. My major technical outlook remains neutral.
GBPUSD
The GBPUSD continued its bullish momentum yesterday topped at 1.5338. The bias is bullish in nearest term. As you can see on my H4 chart below price is testing the H4 EMA 200 suggests a critical point. As long as the EMA 200 holds, it is too early to say the the bearish scenario is over. In fact, now is a good time to sell considering a good risk-reward ratio: a tight stop loss above the EMA 200 with nearest target seen around 1.5090. On the upside, a clear break above the EMA 200 would activate my wait and see mode with bullish intraday bias testing 1.5470 – 1.5500 area. All eyes will be on the FOMC meeting.
USDJPY
The USDJPY had another insignificant movement yesterday. There are no changes in my technical outlook. Price is still trapped inside the range area between 118.50 – 121.30 as you can see on my H4 chart below. All eyes will be on the FOMC meeting which expected to be a catalyst for a breakout. The best plan for now remains to sell around 121.30 or buy around 118.50 with a tight stop loss.
USDCHF
The USDCHF failed to continue its bearish momentum yesterday topped at 0.9738. The bias is bullish in nearest term testing 0.9750 but key resistance remains around 0.9820 which remains a good place to sell with a tight stop loss. Immediate support is seen around 0.9700. A clear break below that area could lead price to neutral zone in nearest term testing 0.9650 area. All eyes will be on the FOMC meeting. My major technical outlook remains neutral.
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