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EUR/USD continued to gyrate in range above 1.4217 last week as consolidations continued. With 1.4256 support intact, such consolidations might continue further and another rise cannot be ruled out. But after all, we’d still expect upside to be limited by 38.2% retracement of 1.5143 to 1.4217 at 1.4571 and bring…

USD/JPY rose further to as high as 93.74 last week but upside momentum was rather unconvincing with bearish divergence conditions in 4 hours MACD and RSI. the pair should continue to lose momentum even in case of another rise, as it approaches medium term trend line resistance at 95.08 and…

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Despite edging lower to 1.5896, subsequent rebound suggests that GBP/USD’s consolidation from 1.5829 is still in progress. Initial bias is mildly on the upside for 1.6237 resistance, and possibly further to 100% projection of 1.5829 to 1.6327 from 1.5896 at 1.6304. But upside should be limited below 61.8% retracement of…

USD/CHF’s choppy correction continued last week and dipped further to 1.0215 last week. Further decline is still mildly in favor as long as 1.0383 resistance holds but after all, we’d expect downside of the consolidation to be contained by support zone of 1.0175 and 61.8% retracement of 0.9916 to 1.0506…

AUD/USD rose strongly to as high as 0.9264 last week. The development left fall from 0.9404 to 0.9734 in three wave corrective structure which indicates that the pair has not topped yet. With an intraday top in place at 0.9264, some sideway trading might be seen initially this week but…

USD/CAD’s fall extended further to 1.0296 last week as correction from 1.0851 continued. Initial bias remains on the downside this week and further decline could still be seen. Nevertheless, we’d expect the pair to continue to lose downside momentum in next fall and downside should be contained above 1.0205 to…

EUR/GBP continued to stay in converging range last week and there is no change in the outlook. Another fall is still expected as long as 0.9053 resistance holds. Below 0.8921 minor support will flip intraday bias back to the downside for 0.8833/55 support zone first. Break there will confirm that…

EURCHF’s fall extended further to as low as 1.4742 last week and met mentioned target of 100% projection of 1.5138 to 1.4894 from 1.4988 at 1.4744. Initial bias remains on the downside this week and sustained trading below 1.4744 will bring deeper decline towards next key support level at 1.4577….

EUR/JPY edged higher to 134.11 last week but continued to face selling pressure ahead of 134.54 resistance. Another rise cannot be ruled out for the moment, but loss of momentum, as seen in bearish divergence conditions in 4 hours MACD and RSI, will likely limit upside to 134.54. Hence we’ll…