EURUSD
The EURUSD had a bullish momentum last week topped at 1.1879 but closed a little bit lower at 1.1820. The bias is neutral in nearest term probably with a little bearish bias testing 1.1750 support area. A clear break and daily close below that area would expose 1.1670 support area which is the “neckline” of a “head and shoulders” formation as you can see on my daily chart below, which is a bearish reversal pattern. The major bullish trend remains valid but need a clear break and daily close above 1.1900 to potentially end the current bearish correction phase and resume the major bullish trend testing 1.2000 – 1.2090 area.
GBPUSD
The GBPUSD had a bullish momentum last week topped at 1.3337 after three consecutive bearish candle on weekly chart. The bias is neutral in nearest term probably with a little bearish bias as we have a bearish pin bar after rejection above 1.3330 key resistance as you can see on my daily chart below testing 1.3225 region. Overall I remain bullish but need a clear break above 1.3330 to reactivate my bullish mode retesting 1.3615 region.
USDJPY
The USDJPY had a bearish momentum last week bottomed at 111.68 following a false break above 113.20 key resistance and the appearance of a bearish pin bar as you can see on my daily chart below. The bias is bearish in nearest term testing 111.65. A clear break below that area would expose 111.00 – 110.65 support area. Immediate resistance is seen around 112.35. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 113.20 would stop the current short-term bearish bias. Overall I remain neutral.
USDCHF
The USDCHF was indecisive last week. The bias is neutral in nearest term. The bearish pin bar scenario remains valid but need a clear break below 0.9700 to continue the bearish scenario testing 0.9650 – 0.9590 region. Immediate resistance is seen around 0.9765. A clear break above that area could trigger further bullish pressure testing 0.9807/36 key resistance. Overall I remain neutral.
