The EURUSD failed to continue it’s bullish momentum yesterday. The pair was unable to stay above 1.4176 area bottomed at 1.3988 and closed at 1.4002. The Greenback was in fact supported by risk aversion following worse than expected NFP data. Technically on h4 chart below, the trendline support has been violated to the downside indicating potential bearish outlook. The failure to stay above 1.4176 and trendline support violation could trigger further weakness for the Euro. The bias is bearish in nearest term testing 1.3850 area but medium term trend remains unclear as the pair still trapped in 1.4176 – 1.3750 area.  Immediate resistance is seen at 1.4050. Break above that area should trigger further upside scenario re-testing 1.4176.

GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday. On h4 chart below we can see that the minor bullish channel has been violated to the downside and the price is now challenging the major trendline support. The bias is bearish in nearest term testing 155.50 area. Immediate resistance at 157.50. Break above that area should lead us into no trading zone.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday. On h1 chart below we have confirmed bearish scenario indicated by violation of the neckline of H&S formation. The bias is bearish in nearest term testing 0.7850 but medium term bullish outlook remains intact so make sure to use only tight money management at this phase. Immediate resistance at 1.7980 followed by 0.8050. CCI just cross the -100 line up on h1 chart suggesting potential upside pressure.

The GBPUSD had a bearish momentum yesterday. The pair bottomed at 1.6322 and closed at 1.6391. On h4 chart below we can see that after failed to stay above 1.6660 key resistance level the pair reversed to the downside and violated the trendline support. This fact should support bearish view in nearest term, but medium term remains unclear. The bias is bearish in nearest term testing 1.6240. Immediate resistance at 1.6420. Break above that area should trigger further bullish momentum. CCI just cross the -100 line down on h4 chart suggesting potential downside pressure.

The USDJPY had a bearish momentum yesterday. On daily chart below, we can see that the pair has been struggling around trendline area since June 23 indicating intense battle between buyers and sellers and we do not have the winner so far. I still prefer downside scenario as the long term trend is bearish. The bias is bearish in nearest term targeting 95.00. CCI just cross the -100 line up on h1 chart so watch out for potential upside pressure testing 96.70 resistance area. Break above that area should lead us into no trading zone.

The USDCHF failed to continue it’s bearish momentum yesterday. On h4 chart below we can see that after breakdown from the triangle, price retreat to the upside and breakout from the triangle. The pair was technically a mess but the fact that we had an upside triangle breakout after bearish failure should support the bullish view. The bias is bullish in nearest term targeting 1.0925. Immediate support at 1.0830. Break below that area should lead us into no trading zone.

Finally, the EURUSD had significant movement yesterday. The pair broke above 1.4176 key level, topped at 1.4198 but closed lower at 1.4140. Technically the fact that 1.4176 was broken to the upside should setting up bullish scenario targeting 1.4336. However we need to be very patient since we will have NFP data today. If after NFP release the pair still able to maintain the bullish condition and stay above 1.4176, expect further bullish scenario.  Immediate support is seen at 1.4050 – 1.4000 area. Break below that area should lead for further bearish pressure. CCI in overbought area and heading down on h4 chart suggesting potential downside consolidation.

GBPJPY Forecast
The GBPJPY had a moderate bullish momentum yesterday. On h4 chart below we still have valid bullish trendline and minor bullish channel that should support the bullish view. However the bias remains neutral in nearest term. Immediate resistance is seen at 160.25 area. Break above that area should trigger further bullish momentum targeting 161.25 area. Initial support at 158.20. CCI in neutral area on daily chart.

AUDUSD Forecast
The AUDUSD had indecisive movement yesterday. On daily chart below we can see that since hit 0.8261 on June 03, the pair corrected lower, forming a minor bearish channel. Unless the minor bearish channel violated to the upside, the bullish continuation scenario is not confirmed yet. However, once confirmed, 0.8500 area should be the next bullish target in medium term outlook. Immediate support is seen at 0.8000. Initial resistance at 0.8150 followed by 0.8261.

The GBPUSD had indecisive movement yesterday, formed a Doji formation on daily chart. On h4 chart below we can see that the pair is struggling around trendline area. I think we are in no trading zone now and it’s better to stay away from the market. The bias is neutral in nearest term. Immediate resistance is seen at 1.6550 followed by 1.6660. Break above 1.6660 should trigger further bearish scenario in medium term. Initial support at 1.4350. CCI in neutral area both on h4 and daily chart.

The USDJPY attempted to push higher yesterday, topped at 96.97 but closed lower at 96.64. The 96.70 resistance area was broken to the upside, but the bullish momentum is not convincing yet to set up a bullish outlook. On h4 chart below we can see that the trendline resistance has been violated to the upside but price attempted to retreat below the trendline indicating an intense battle around the trendline area. We need consistent move above 96.70 to confirm bullish scenario.