Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Jul 31 08 02:14 GMT |

EURUSD Outlook Yesterday the EURUSD made indecisive movement by opened and closed at almost the same price (1.5585 and 1.5577). It seems like the bearish momentum is limited right now, but the Greenback seems to remain positive in days ahead. My model is mixed with neutral bias. Immediate support is seen at 1.5520 (yesterday's low). Initial resistance at 1.5630. CCI in overbought area on daily chart. EURUSD Daily Supports and Resistances: S1= 1.5527 S2= 1.5477 S3= 1.5433 R1= 1.5621 R2= 1.5665 R3= 1.5715 GBPUSD Outlook Yesterday the GBPUSD bottomed at 1.9744, 4 pips higher than my short target at 1.9740 before corrected higher and closed at 1.9814. My model is mixed with downside bias. Immediate support is seen at 1.9740. Initial resistance at 1.9845. CCI in neutral area on daily chart. GBPUSD Daily Supports and Resistances: S1= 1.9757 S2= 1.9701 S3= 1.9658 R1= 1.9856 R2= 1.9899 R3= 1.9955 USDJPY Outlook Yesterday the USDJPY didn't make significant movement, opened and closed at almost the same price (108.14 and 108.05). My model is mixed with neutral bias. Immediate support is seen at 107.70. Initial resistance at 108.40. CCI in overbought area on daily chart, suggesting the bullish power might have exhausted right now. USDJPY Daily Supports and Resistances: S1= 107.72 S2= 107.39 S3= 107.09 R1= 108.35 R2= 108.65 R3= 108.98 USDCHF Outlook Yesterday the USDCHF attempted to push higher, topped at 1.0520, but closed lower at 1.0482. The pair already in overbought area, so the bullish power might have exhausted right now. My model is mixed with neutral bias. Immediate support is seen at 1.0440. Initial resistance at 1.0540. CCI in overbought area on daily chart. USDCHF Daily Supports and Resistances: S1= 1.0440 S2= 1.0399 S3= 1.0359 R1= 1.0521 R2= 1.0561 R3= 1.0602 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