Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Jul 29 08 01:44 GMT |

EURUSD Outlook

Yesterday the Euro was traded stronger against Greenback, topped at 1.5767 and closed at 1.5738. My model is mixed with upside bias. Remember that the pair need to stay consistently above 1.5750 key level in order to gain more bullish momentum. Immediate support is seen at 1.5680. Initial resistance at 1.5797. CCI in neutral area on daily chart.

EURUSD Daily Supports and Resistances:

S1= 1.5691
S2= 1.5645
S3= 1.5607
R1= 1.5775
R2= 1.5813
R3= 1.5859
GBPUSD Outlook

The Sterling was traded stronger against Greenback yesterday, topped at 1.9962, but the pair keep making a lower high on daily chart. We still have a valid bearish channel on hourly chart. My model remains mixed with downside bias. Only a consistent movement above 2.0005 area could be a violation to the bearish scenario. Immediate support is seen at 1.9916 followed by 1.9868. CCI in neutral area on daily chart.

GBPUSD Daily Supports and Resistances:

S1= 1.9868
S2= 1.9793
S3= 1.9746
R1= 1.9990
R2= 2.0037
R3= 2.0112
USDJPY Outlook

The USDJPY failed to maintain it's bullish momentum yesterday. The pair bottomed at 107.34 and closed at 107.48. My model is mixed with downside bias. Immediate resistance is seen at 107.75. Initial support at 106.50. CCI just cross 100 line down on daily chart, suggesting potential bearish view.

USDJPY Daily Supports and Resistances:

S1= 107.19
S2= 106.90
S3= 106.46
R1= 107.92
R2= 108.36
R3= 108.65
USDCHF Outlook

The Swiss Franc was traded stronger against Greenback yesterday, but with less power than I had expected. My model remains short, targeting 1.0250. Immediate resistance is seen at 1.0350 followed by 1.0400. CCI just cross 100 line down on daily chart, suggesting a potential bearish view.

USDCHF Daily Supports and Resistances:

S1= 1.0315
S2= 1.0287
S3= 1.0251
R1= 1.0379
R2= 1.0415
R3= 1.0443

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