Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Sep 03 08 03:09 GMT |

EURUSD Outlook

The EURUSD hit my short target at 1.4495 yesterday, even further, bottomed at 1.4466 but closed a little bit higher at 1.4513. We still have a valid bearish channel on hourly chart. My model remains short targeting 1.4430. Only a consistent move above 1.4545 resistance level would be a violation to the current bearish momentum. CCI about to cross -100 line up on 4h chart so we might have a minor upside correction.

EURUSD Daily Supports and Resistances:

S1= 1.4453
S2= 1.4393
S3= 1.4320
R1= 1.4586
R2= 1.4659
R3= 1.4719
GBPUSD Outlook

The GBPUSD continued it's bearish scenario yesterday. The pair bottomed at 1.7781 and closed at 1.7831. My model remains mixed with downside bias. Immediate resistance is seen at 1.7862. Initial support at 1.7781 (yesterday's low) followed by 1.7730. CCI just cross -100 line up on 4h chart, so watch out for minor upside risks.

GBPUSD Daily Supports and Resistances:

S1= 1.7740
S2= 1.7650
S3= 1.7519
R1= 1.7961
R2= 1.8092
R3= 1.8182
USDJPY Outlook

The USDJPY was traded higher yesterday, topped at 109.18, closed a little lower at 108.59. We have a valid bullish channel on hourly chart. My model goes long targeting 109.50. Immediate support is seen at 108.45 followed by 108.20. CCI just cross -100 line up on daily chart suggesting a bullish view.

USDJPY Daily Supports and Resistances:

S1= 107.85
S2= 107.11
S3= 106.45
R1= 109.25
R2= 109.91
R3= 110.65
USDCHF Outlook

The USDCHF hit my long target at 1.1085 yesterday, even further, topped at 1.1129. We still have a valid bullish channel on hourly chart. My model remains long targeting 1.1185. Immediate support is seen at 1.1040. A break to the downside from that support level could be a violation to the current bullish momentum. CCI about to cross 100 line down on 4h chart so we might have a minor downside risks.

USDCHF Daily Supports and Resistances:

S1= 1.1006
S2= 1.0947
S3= 1.0886
R1= 1.1126
R2= 1.1187
R3= 1.1246

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