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EUR/USD’s fall from 1.5143 extended further to as low as 1.4261 last week and the development is inline with the view that is has topped out in medium term already. Initial bias remains on the downside this week and further decline should be seen towards 38.2% retracement of 1.2329 to…

USD/JPY strengthens last week even though path was choppy. The break of 90.75 resistance suggests that whole rise fro 84.81 is resuming. Initial bias iwll remian on the upside. Break of near term channel resistance (now at 91.11) will target 92.31 resistance next. On the downside, though, a break below…

GBP/USD’s decline resumed after brief recovery and reached as low as 1.6049. Initial bias remains on the downside this week and GBP/USD should target 100% projection of 1.6720 to 1.6166 from 1.6408 at 1.5854 first and then 1.5706 cluster support next. On the upside, above 1.6246 minor resistance will turn…

USD/CHF’s rally extended further to as high as 1.0506 last week but formed a short term top there on bearish divergence conditions in 4 hours MACD. Initial bias is mildly on the downside this week and some pull back could be seen to 4 hours 55 EMA (now at 1.0333)…

AUD/USD dived to as low as 0.8809 last week before recovery mildly. The strong break of 0.8915/45 support zone confirms that a medium term top is already in place at 0.9404. With 4 hours MACD crossed above signal line, some consolidations could be seen initially this week. Nevertheless, upside should…

USD/CAD’s choppy rise from 1.0405 extends to 1.0744 last week and the break of near term falling trend line argues that consolidations from 1.0851 has completed already. However, this was not confirmed by a break 1.0748 resistance yet. With 4 hours MACD crossed below signal line, initial bias is neutral…

EUR/CHF dropped sharply to as low as 1.4905 last week and the strong break of 1.5007 support dampens our bullish view. Instead, it opens up the bearish case that whole fall from 1.5880 is still in progress. Initial bias remains on the downside this week as long as 1.5005 minor…

EUR/GBP falls sharply to as low as 0.8850 last week and the development indicates that correction from 0.9410 is still in progress. With 4 hours MACD crossed above signal line, some sideway trading might be seen initially this week. Nevertheless, upside should be limited below 0.8990 support turned resistance and…

EUR/JPY dropped to as low as 127.50 last week but was supported above 126.88 and recovered strongly. Initial bias will remain neutral this week and some sideway trading could be seen. But still, another fall is in favor as long as 130.76 resistance holds. Below 127.50 will target a test…

GBP/JPY’s recovery extended further to as high as 146.89 last week. But after all, it’s still limited by 147.43 resistance and we’re holding on to the bearish view. That is, choppy recovery from 141.99 is treated as correction to fall from 149.15 only. A break below 143.12 minor support will…