EURUSD
The EURUSD continued its bullish momentum last week topped at 1.1776. The bias is bullish in nearest term. We have an inside bar formation as you can see on my daily chart below. I am expecting a breakout above the ‘mother bar’ targeting 1.1875 – 1.2000 area this week. On the downside, a clear break below the ‘mother bar’ (1.1650) could trigger further bearish correction testing 1.1580 region which is a good place to buy with a tight stop loss as a clear break and daily close below 1.1580 would interrupt the bullish trend and activate my neutral mode.
GBPUSD
The GBPUSD had a bullish momentum last week topped at 1.3159. Price is still moving convincingly above the EMA 200 and the trend line support as you can see on my H1 chart below suggests a valid bullish trend. The bias is bullish in nearest term testing 1.3200 area before targeting 1.3350 region this week. Immediate support is seen around 1.3100. A clear break below that area could lead price to neutral zone in nearest term testing 1.3050 – 1.3000 support area which is a good place to buy with a tight stop loss below 1.3000.
USDJPY
The USDJPY attempted to push higher last week topped at 112.19 but whipsawed to the downside and closed lower at 110.72 and hit 110.30 earlier today in Asian session. The bias is bearish in nearest term testing a trend line support as you can see on my daily chart below, located around 109.50/00 region which is a good place to buy with a tight stop loss. Immediate resistance is seen around 110.80. A clear break above that area could lead price to neutral zone in nearest term testing 111.30 but only a clear break back above 112.19 could interrupt the current bearish phase. Overall I remain neutral.
USDCHF
The USDCHF had a strong bullish momentum last week topped at 0.9726. The bias is bullish in nearest term especially if price able to stay consistently above 0.9700 targeting 0.9765 – 0.9807 key resistance area which is a good place to sell with a tight stop loss. Immediate support is seen around 0.9620. A clear break below that area could lead price to neutral zone in nearest term testing 0.9550 region which need to be clearly broken to the downside to keep the bearish outlook remains strong retesting 0.9450 key support.
