Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Jul 22 08 02:22 GMT |

EURUSD Outlook Yesterday the EURUSD regained it's bullish momentum, topped at 1.5931 and closed at 1.5925. My model goes long, targeting the all time high 1.6038. Immediate support is seen at 1.5905 followed by 1.5875. CCI just cross 100 line up on daily chart, suggesting a bullish view. EURUSD Daily Supports and Resistances: S1= 1.5858 S2= 1.5791 S3= 1.5755 R1= 1.5961 R2= 1.5997 R3= 1.6064 GBPUSD Outlook The Sterling recovered against Greenback yesterday. This fact could be seen as the end of correctional downside move and get the GBPUSD back to bullish momentum. My model goes long targeting 2.0095. Immediate support is seen at 1.9970. CCI about to cross 100 line up on daily chart. GBPUSD Daily Supports and Resistances: S1= 1.9943 S2= 1.9858 S3= 1.9811 R1= 2.0075 R2= 2.0122 R3= 2.0207 USDJPY Outlook The USDJPY was corrected yesterday, bottomed at 106.32 and closed at 106.42. As long as the pair move above 106.30 support area, the outlook is still bullish. A break to the downside could trigger further downside correction towards 105.80. CCI in neutral area on daily chart. USDJPY Daily Supports and Resistances: S1= 106.11 S2= 105.80 S3= 105.28 R1= 106.94 R2= 107.46 R3= 107.77 USDCHF Outlook Yesterday the USDCHF back to it's bearish trend. The pair bottomed at 1.0166 and closed at 1.0171. My model remains short, targeting 1.0105. Immediate resistance is seen at 1.0200. CCI heading down towards -100 line on daily chart. USDCHF Daily Supports and Resistances: S1= 1.0144 S2= 1.0118 S3= 1.0070 R1= 1.0218 R2= 1.0266 R3= 1.0292 FX Instructor LLC www.fxinstructor.com The information has been prepared for information purposes only. The document is not intended as personalized investment advice and does not constitute a recommendation to buy, sell or hold investments described herein. This information contained herein is derived from sources we believe to be reliable, but of which we have not independently verified. FXInstructor LLC assumes no responsibilities for errors, inaccuracies or omissions in these materials, nor shall it be liable for damages arising out of any person's reliance upon this information. FXInstructor LLC does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. FXInstructor LLC shall not be liable for any indirect, incidental, or consequential damages including without limitation losses, lost revenues or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results