EURUSD
The EURUSD was indecisive last week. The bias is neutral in nearest term. Overall I remain bullish, but need a clear break above 1.1285 to continue the bullish scenario targeting 1.1350 – 1.1425 region. Immediate support is seen around 1.1160, but key support remains at 1.1080 which is a good place to buy with a tight stop loss as a clear break below that area would continue the false breakout (above 1.1285) bearish pullback scenario, testing 1.0900 region and the major trend line support as you can see on my H4 chart below.
GBPUSD
The GBPUSD was indecisive last week. The bias is neutral in nearet term probably with a little bullish bias. The bullish pin bar on H4 chart still suggests a potential bullish scenario from here, but need a clear break above 1.2780 and the H4 EMA 200 (1.2820) to confirm the bullish scenario targeting 1.2900 – 1.3000/50 region. On the downside, only a clear break below 1.2635 would nullify the bullish bias testing 1.2500 region.
USDJPY
The USDJPY was indecisive last week. Price attempted to push lower, bottomed at 108.82 but whipsawed to the upside and closed higher at 110.85 and hit 111.13 earlier today in Asian session. The bearish scenario is no longer valid as price broke above the trend line resistance as you can see on my H4 chart below, but I am not bullish yet. The bias is bullish in nearest term testing 111.70 – 112.15. Immediate support is seen around 110.65/35. A clear break back below that area could lead price to neutral zone in nearest term but would give the bearish scenario another chance.
USDCHF
The USDCHF continued its bullish correction last week topped at 0.9770. The bias is bullish in nearest term testing 0.9815 key resistance which is a good place to sell with a tight stop loss targeting 0.9600 – 0.9550 area. Immediate support is seen around 0.9715. A clear break below that area could lead price to neutral zone in nearest term testing 0.9680/50 region. On the upside, a clear break and daily close above 0.9815 would end the bearish outlook testing 0.9900 area or higher.
