Daily Technical Analysis

Daily Forex Technicals | Written by FX Instructor | Mar 27 09 01:27 GMT |

EURUSD Outlook EURUSD still made no significant movement yesterday, trapped between 1.3735 - 1.3435 area. We have no clear direction so far and remain in the 'no trade zone'. Daily CCI just cross the 100 line down suggesting a potential bearish view, but as long as price stay above 1.3435 the bearish scenario is not yet confirmed. Consistent movement below 1.3435 could trigger further bearish momentum targeting 1.2990 area. EURUSD Daily Supports and Resistances: S1= 1.3467 S2= 1.3408 S3= 1.3323 R1= 1.3611 R2= 1.3696 R3= 1.3755 GBPUSD Outlook The GBPUSD had another bearish momentum yesterday. On 4h chart we can see that the pair is now in a very important phase where price testing the support trendline. The bias is bearish in nearest term but I think it's better to wait until the trendline support violated to the downside before jump into the market targeting 1.4250 area. CCI just cross the -100 line up on hourly chart so watch out for a potential upside pressure testing 1.4510 resistance area. GBPUSD Daily Supports and Resistances: S1= 1.4375 S2= 1.4291 S3= 1.4161 R1= 1.4589 R2= 1.4719 R3= 1.4803 USDJPY Outlook The USDJPY had a significant bullish momentum yesterday. On 4h chart we can see that the trendline resistance has been violated to the upside suggesting potential bullish scenario. The bias is bullish in nearest term targeting 99.70 area. However CCI about to cross the 100 line down on hourly chart so watch out for a potential downside rebound testing 98.00/30 support area. USDJPY Daily Supports and Resistances: S1= 97.87 S2= 96.94 S3= 96.45 R1= 99.29 R2= 99.78 R3= 100.71 USDCHF Outlook Still no significant movement. Keep stay away from the market until we have a valid breakout/down from the choppy area (1.1360 - 1.1170). Daily CCI about to cross the -100 line up suggesting a potential bullish view. Break above 1.1360 could trigger further bullish momentum targeting 1.1470 area. USDCHF Daily Supports and Resistances: S1= 1.1205 S2= 1.1140 S3= 1.1099 R1= 1.1311 R2= 1.1352 R3= 1.1417 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