Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Sep 15 08 03:22 GMT |

EURUSD Outlook

The EURUSD recovered on Friday, topped at 1.4232 and closed at 1.4228. Early today in Asian market the pair continued it's bullish momentum, traded around 1.4340 at the time I wrote this comment. From a broader view, we are in an important phase as the pair is now testing a major resistance level at 1.4357 (red line on the chart). A break from that level could trigger further bullish scenario towards 1.5000 area, while a failure would keep bearish scenario intact. My model is mixed with upside bias. CCI just cross -100 line up on daily chart suggesting a potential bullish view.

EURUSD Daily Supports and Resistances:

S1= 1.4056
S2= 1.3884
S3= 1.3796
R1= 1.4316
R2= 1.4404
R3= 1.4576
GBPUSD Outlook

The Sterling continued to recover against Greenback on Friday. The pair topped at 1.7959 and closed at 1.7939. Early today in Asian market the pair is traded higher, around 1.8025 at the time I wrote this comment. My model is mixed with upside bias. Immediate support is seen at 1.7950. Initial resistance at 1.8085. CCI just cross -100 line up on daily chart, suggesting a potential bullish view.

GBPUSD Daily Supports and Resistances:

S1= 1.7667
S2= 1.7395
S3= 1.7249
R1= 1.8085
R2= 1.8231
R3= 1.8503
USDJPY Outlook

The USDJPY was traded higher on Friday, topped at 107.97 and closed at 107.93. However we have huge gap of 196 pips in Asian market opening today as the pair was opened at 105.97 and traded around 106.15 at the time I wrote this comment. My model is mixed with downside bias. Immediate resistance is seen at 106.86. Initial support at 105.50. CCI just cross -100 line down on daily chart suggesting a potential bearish view.

USDJPY Daily Supports and Resistances:

S1= 107.10
S2= 106.27
S3= 105.84
R1= 108.36
R2= 108.79
R3= 109.62
USDCHF Outlook

The USDCHF was corrected lower on Friday. The pair bottomed at 1.1290 and closed at 1.1298. I am expecting further bearish scenario today. My model is mixed with downside bias. Immediate resistance is seen at 1.1220. Initial support at 1.1127 followed by 1.1080. CCI just cross -100 down on daily chart suggesting a potential bearish view.

USDCHF Daily Supports and Resistances:

S1= 1.1259
S2= 1.1220
S3= 1.1150
R1= 1.1368
R2= 1.1438
R3= 1.1477

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