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The development in EU’s help to Greece’s fiscal problem remained the center of attention last week. But markets were dissatisfied with the lack of a solid plan from EU other than a pledge and Euro was sent broadly lower. EU finance ministers will meet again this week but may yet…

EUR/USD’s recovery was limited by 1.3838 last week and recent decline extended further to as low as 1.3531 so far. Initial bias remains on the downside this week and further fall is expected towards 61.8% retracement of 1.2329 to 1.5143 at 1.3404 first. Break will target 161.8% projection of 1.5143…

USD/JPY’s choppy recovery from 88.57 continued last week and extended to 90.40 so far. Such recovery might continue initially this week but after all, upside is expected to be limited below 91.26 resistance and bring fall resumption. Below 89.56 minor support will flip intraday bias back to the downside and…

GBP/USD turned sideway after edging lower to 1.5534 last week and stayed in tight range since then. Initial bias remains neutral this week and more consolidations could be seen. Another rise cannot be ruled out but after all, upside is expected to be limited by 1.5849 resistance and bring fall…

USD/CHF’s retreat was contained at 1.0608 last week after drawing support from 4 hours 55 EMA and resumed recent rally to as high as 1.0826. Initial bias remains on the upside and further rise should be seen to medium term trend line resistance at 1.0903 next. On the downside, below…

AUD/USD’s rebound from 0.8577 was stronger than expected and reached as high as 0.8918 last week before retreating. Nevertheless, there is no change in the view that it’s a correction to fall from 0.9327 only. With 4 hours MACD crossed below signal line, initial bias is neutral this week. Break…

USD/CAD’s pull-back from 1.0779 was deeper than expected and dropped to as low as 1.0479 last week. Nevertheless, there is no change in the view that it’s merely a correction to rise from 1.0223. While more decline might be seen, we’d expect strong support from 61.8% retracement of 1.0223 to…

EUR/GBP’s rebound from 0.8601 was a bit stronger than expected and extended to as high as 0.8841 last week. Nevertheless, the cross failed to take out 55 days EMA. Moreover the sharp fall from 0.8841 left the recovery from 0.8601 in three wave corrective structure and thus indicates that recent…

EUR/CHF stayed in very tight range last week as sideway consolidations continue. Initial bias will remain neutral this week as more choppy sideway trading is expected in near term. Stronger recovery cannot be ruled out, and EUR/CHF might climb to above 1.4820. But after all, we’d expect strong resistance ahead…