EURUSD
The EURUSD continued its bearish correction momentum last week bottomed at 1.1717 but closed higher at 1.1816. The bias is neutral in nearest term. My major technical outlook remains bullish but price is still in a bearish correction phase. Immediate support is seen around 1.1770. A clear break below that area could trigger further bearish pressure testing 1.1700 area. Immediate resistance is seen around 1.1823/50. A clear break above that area could trigger further bullish pressure testing 1.1935 which need to be clearly broken to the upside to potentially end the current bearish correction phase. On the downside, a clear break and daily close below 1.1700 would expose 1.1600 region.
GBPUSD
The GBPUSD continued to trade lower last week, hit a fresh two-week low at 1.3342. The bias is neutral in nearest term. Overall I remain bullish and 1.3400 – 1.3330 support area remains a good place to buy with a tight stop loss below 1.3330 as a clear break below that area would take price to a bearish correction zone testing 1.3150 region. Immediate resistance is seen around 1.3455. A clear break and daily close above that area could trigger further bullish pressure testing 1.3515 – 1.3570 region but key resistance remains at 1.3615.
USDJPY
The USDJPY was indecisive last week but overall still able to maintain its bullish H1 chart bias which started after a false break below 107.50 four weeks ago and hit a fresh four-week high at 113.25. The bias is neutral in nearest term probably with a little bullish bias testing 113.50 area. On the downside, 112.35 – 111.65 area remains a key support and good place to buy with a tight stop loss below 111.65. Overall I remain neutral.
USDCHF
The USDCHF was indecisive last week. Price attempted to push higher, topped at 0.9769 but closed lower at 0.9677 after a rejection to break above the daily EMA 200 as you can see on my daily chart below. The bias is neutral in nearest term probably with a little bearish bias testing 0.9650 area. On the upside, 0.9765 – 0.9807 remains a key resistance and good place to sell with a tight stop loss. Overall I remain neutral.
