The EURUSD had a bullish momentum last week topped at 1.1860 but closed a little bit lower at 1.1786 and hit 1.1722 earlier today in Asian session. Overall price is still in a short-term bullish phase since broke above 1.1690 but still respects the trend line resistance as you can see on my H1 chart below and as long as stay below 1.1900 my major bullish outlook remains valid. The bias is bearish in nearest term testing 1.1690 support area. A clear break and daily close below that area would retest 1.1550 region this week. Immediate resistance is seen around 1.1800. A clear break above that area would expose 1.1860 – 1.1900 key resistance.
The GBPUSD was indecisive last week. The bias is neutral in nearest term. Price has been moving sideways between 1.3330 – 1.3040 range area for the last six weeks now and we need a clear break from that range area to see clearer direction. Immediate support is seen around 1.3160 followed by 1.3115 but key support remains at 1.3000. Immediate resistance is seen around 1.3230. A clear break above that area could trigger further bullish pressure testing 1.3260 but key resistance remains at 1.3330. Overall I remain bullish.
The USDJPY had a bearish momentum last week bottomed at 111.94 and hit 111.88 earlier today in Asian session. The bias is bearish in nearest term testing 111.65 (daily EMA 200) as a part of the bearish pin bar scenario as you can see on my daily chart below. A clear break and daily close below that area would expose 110.65 region. Immediate resistance is seen around 112.50. A clear break above that area could lead price to neutral zone in nearest term testing 113.00 region. Overall I remain neutral.
The USDCHF had a bearish momentum last week bottomed at 0.9846 following a clear break below 0.9940 support area (now resistance) but closed a little bit higher at 0.9890. The bias is bearish in nearest term testing 0.9835. Immediate resistance is seen around 0.9940. A clear break back above that area could lead price to neutral zone in nearest term but would give the major bullish trend another chance retesting 1.0037 key resistance area.