EURUSD
As expected, the EURUSD had a bullish momentum last week topped at 1.1941 and hit 1.1959 earlier today in Asian session. As you can see on my daily chart below, price breaks above the bullish flag and the inside bar formation, suggests a bullish continuation scenario. The bias is bullish in nearest term testing 1.2000 level. Immediate support is seen around 1.1875. A clear break below that area could lead price to neutral zone in nearest term testing 1.1830 region but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 1.2000 would expose 1.2100 – 1.2175 region.
GBPUSD
The GBPUSD was indecisive last week. The pair attempted to push lower, bottomed at 1.2773 but closed higher at 1.2876. Price gapped higher earlier today, opened at 1.2923 but traded lower around 1.2885 at the time I wrote this comment. As you can see on my daily chart below, price retreat from the violated trend line support and 1.2915 key resistance, which keeps the bearish phase intact. The bias is neutral in nearest term. Immediate support is seen around 1.2830. A clear break and daily close below that area could trigger further bearish pressure testing 1.2700 region. On the upside, a clear break and daily close above 1.2915 would interrupt the current bearish phase testing 1.3000 – 1.3030 resistance area. Overall I remain neutral.
USDJPY
The USDJPY was indecisive last week formed a Doji formation on weekly chart. The bias is neutral in nearest term. As long as stay below 109.85 I still prefer a bearish scenario at this phase but need a clear break below 108.70 key support area to continue the bearish scenario testing 108.00 – 107.50 as nearest bearish target. On the upside, a clear break and daily close above 109.85 key resistance would expose 111.00 region or higher.
USDCHF
The USDCHF attempted to push higher last week topped at 0.9697 but whipsawed to the downside and closed below 0.9580 support area. The bias is bearish in nearest term testing 0.9500 – 0.9450 key support. Immediate resistance is seen around 0.9600. A clear break above that area could lead price to neutral zone in nearest term testing 0.9650 region or higher. I prefer a bearish scenario at this phase but 0.9450 key support should remain a good place to buy with a tight stop loss.
