The pair of EURUSD has been bullish the previous day.

Victor Refael

January 12 my daily forecast

EUR/USD
The pair of EURUSD 
has been bullish the previous day with the top at 1.2058 but got at 1.2075 today in the Eastern markets. This stops the bearish pin bar scenario that we saw on Wednesday because we went above it, please check it on our daily chart. The inclination is bullish for the following days testing the 1.2090 key resistance area. A break above that area could start a bullish phase, testing the 1.2175 – 1.2220 area next week. Immediate assistance is at around 1.2045. A movement below that area could lead us to a neutral phase testing the 1.2000 region.

GBP/USD
The pair of GBPUSD 
tried to go lower the previous day and went below the range line, please check it on our daily chart, but then went up and closed higher at 1.3564 today in the Eastern markets. In my opinion is a false break situation. The inclination is bullish for the next days testing the 1.3615 key resistance area. A clear break above that region would open the 1.3800/35 area next week. Immediate assistance is at around 1.3495. A break and daily/weekly close below that area could confirm a bearish phase testing the trend line and the 1.3330 area next week. I still predict a bullish phase.

USD/JPY
The pair of USDJPY 
has been inconclusive the previous day. The price went higher today with the top at 111.87 but closed lower at 111.23 on the Asian markets. The inclination is bearish for the following days, testing the 110.85/65 area, still in a bearish phase after it rebounded off the trend line, please check it on our daily chart. Immediate resistance can be seen at around 111.85. A clear break above that area could lead us to a neutral phase for the following days. Overall I still predict a neutral phase.

USD/CHF
The pair of USDCHF 
has been inconclusive the previous day, but still in a short-term bearish phase, because it went below the daily EMA200, please check it on our daily chart. The inclination is bearish for the next days testing the 0.9700 area. A break below that area to open a bearish phase testing the 0.9590 area next week. Immediate resistance is at around the 0.9797 – 0.9816 region. A break and a close above that area could start a neutral phase the following days. I still predict a neutral phase.