Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Sep 02 08 03:37 GMT |

EURUSD Outlook

The EURUSD continued it's bearish momentum yesterday. The pair bottomed at 1.4581 and closed at 1.4586. We still have a valid bearish channel on hourly chart. My model is short targeting 1.4495. Immediate resistance is seen at 1.4619 followed by 1.4666. CCI just cross -100 line down on daily chart suggesting a potential bearish view.

EURUSD Daily Supports and Resistances:

S1= 1.4539
S2= 1.4492
S3= 1.4403
R1= 1.4675
R2= 1.4764
R3= 1.4811
GBPUSD Outlook

The Greenback continued it's positive momentum against the Sterling yesterday. The pair bottomed at 1.7983 and closed at 1.7993. Early today in Asian market the pair was traded lower around 1.7910 at the time I wrote this comment. My model is mixed with downside bias. Immediate resistance is seen at 1.7950 followed by 1.8000. Initial support at 1.7830. CCI in oversold area in all 3 time frames (hourly, 4h, daily).

GBPUSD Daily Supports and Resistances:

S1= 1.7941
S2= 1.7890
S3= 1.7797
R1= 1.8085
R2= 1.8178
R3= 1.8229
USDJPY Outlook

The Japanese Yen was traded softly lower against Greenback yesterday. The pair attempted to push lower, bottomed at 107.62 but closed higher at 108.13. The bearish channel on hourly chart is violated to the upside. My model is mixed with upside bias. Immediate support is seen at 107.77. Initial resistance at 108.90. CCI in oversold area on daily chart.

USDJPY Daily Supports and Resistances:

S1= 107.61
S2= 107.09
S3= 106.56
R1= 108.66
R2= 109.19
R3= 109.71
USDCHF Outlook

The USDCHF continued it's bullish momentum yesterday. The pair topped at 1.1046 and closed at 1.1024. We have a valid bullish channel on hourly chart. My model is long targeting 1.1085. Immediate support is seen at 1.0980. CCI heading up towards 100 line on daily chart.

USDCHF Daily Supports and Resistances:

S1= 1.0965
S2= 1.0906
S3= 1.0866
R1= 1.1064
R2= 1.1104
R3= 1.1163

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