Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Nov 27 08 02:58 GMT |

EURUSD Outlook

After gain some bullish momentum since Friday, yesterday the EURUSD corrected lower. The pair bottomed at 1.2819 and closed at 1.2878. This fact force my model to mixed with neutral bias. Although this might be just a minor downside correction of the current short term bullish momentum targeting 1.3200 area, CCI already in overbought area and about to cross 100 line down on daily chart suggesting a potential downside pressures. Immediate support is seen at 1.2836 followed by 1.2750. Initial resistance at 1.2930. A break to the upside from that resistance level could trigger further bullish momentum back towards 1.3050 area.

EURUSD Daily Supports and Resistances:

S1= 1.2779
S2= 1.2680
S3= 1.2541
R1= 1.3017
R2= 1.3156
R3= 1.3255
GBPUSD Outlook

The GBPUSD was traded lower yesterday. The pair bottomed at 1.5177 but closed higher at 1.5342. We still have a valid bullish channel on 4h chart. The bias is still on the upside. Immediate support is seen at 1.5320 followed by 1.5220. Initial resistance at 1.5440 followed by 1.5530. CCI in neutral area on daily chart.

GBPUSD Daily Supports and Resistances:

S1= 1.5194
S2= 1.5046
S3= 1.4916
R1= 1.5472
R2= 1.5602
R3= 1.5750
USDJPY Outlook

The USDJPY made indecisive movement by open and closed at almost the same price (95.33 and 95.40). My model remains mixed with downside bias. Immediate support is seen at 94.50. Initial resistance 95.93 (yesterday's high). CCI in neutral area and heading down both on hourly chart and 4h chart suggesting a potential downside pressures.

USDJPY Daily Supports and Resistances:

S1= 94.71
S2= 94.03
S3= 93.42
R1= 96.00
R2= 96.61
R3= 97.29
USDCHF Outlook

After had some bullish momentum since Monday, Yesterday the USDCHF was traded higher. The pair topped at 1.2077 and closed at 1.2019. However early today in Asian session the pair was traded lower around 1.1995 at the time I wrote this comment. This fact force my model to mixed with neutral bias. Immediate support is seen at 1.1935. Initial resistance at 1.2077 (yesterday's high). CCI in neutral area on 4h chart.

USDCHF Daily Supports and Resistances:

S1= 1.1880
S2= 1.1741
S3= 1.1643
R1= 1.2117
R2= 1.2215
R3= 1.2354

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