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.

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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.

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