The EURUSD attempted to push lower last week bottomed at 1.1554 but closed higher at 1.1664. The bias is neutral in nearest term. Overall I remain bearish but need a clear break below 1.1580/50 support area to continue the”head and shoulders” bearish reversal scenario testing 1.1450 region. Immediate resistance is seen around 1.1670/90. A clear break above that area could trigger further bullish pullback testing 1.1725 but as long as stay below 1.1900 I remain bearish and any upside pullback should be seen as a good opportunity to sell.
The GBPUSD had a bullish momentum last week topped at 1.3229 but traded lower earlier today in Asian session hit 1.3107. The bias is bearish in nearest term testing 1.3085/00 key support which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.3180. A clear break above that area could lead price to neutral zone in nearest term testing 1.3229 but key resistance remains at 1.3330.
The USDJPY was indecisive last week. Price attempted to push higher, slipped above 114.50 key resistance but closed lower at 113.50. The bias is neutral in nearest term probably with a little bearish bias testing 113.20 support area. A clear break and daily close below that area would expose 112.50/25 area as a part of the bearish pin bar scenario. On the upside, 114.50 remains a key resistance and good place to sell with a tight stop loss. Overall I remain neutral.
The USDCHF had another indecisive movement last week. The bias is neutral in nearest term. Price is still trapped between 1.0037 – 0.9940 range area as you can see on my daily chart below and need a clear break from that range area to see clearer direction. Overall I remain bullish but need a clear break above 1.0037 to continue the major bullish trend testing 1.0100 or higher. On the other hand, a clear break below 0.9940 would expose 0.9835 area.