FX Instructor

EURUSD Outlook
EURUSD reach top at 1.5798 yesterday, but closed a little bit weaker at 1.5702. But my model is still bullish, so I am expecting the pair will make further upside attempt today. Immediate support at 1.5670, followed by 1.5625. Initial resistance at 1.5850.

EURUSD Daily Supports and Resistances:
* S1= 1.5651 * S2= 1.5600 * S3= 1.5527
* R1= 1.5775 * R2= 1.5848 * R3= 1.5899

GBPUSD Outlook
The Sterling slumped further against US Dollar yesterday, bottomed at 1.9664. The nearest target is 1.9586 (23.6% Fibonacci retracement from 2.0397 to 1.9336). On daily chart, CCI is already in oversold area, so watch out for a minor upside rebound. Immediate resistance at 1.9748.

GBPUSD Daily Supports and Resistances:
* S1= 1.9589 * S2= 1.9495 * S3= 1.9327
* R1= 1.9851 * R2= 2.0019 * R3= 2.0113

USDJPY Outlook
On the daily chart, the USDJPY seems to have strong resistances at 102.80-90 area. My short/medium outlook is still bullish and still targeting key level at 103.66. Immediate support at 102.25 followed by 101.50.

USDJPY Daily Supports and Resistances:
* S1= 101.98 * S2= 101.40 * S3= 101.05
* R1= 102.91 * R2= 103.26 * R3= 103.84

USDCHF Outlook
USDCHF still can not break out from ranging area between 1.0197 and 0.9988. As long as the pair stay below 1.0197, my model is still bearish. Immediate support at 1.0087.

USDCHF Daily Supports and Resistances:
* S1= 1.0088 * S2= 1.0031 * S3= 0.9998
* R1= 1.0178 * R2= 1.0211 * R3= 1.0268