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Markets headlines was dominated by Federal Reserve’s surprised discount rate hike last week and dollar was given a brief boost. However, the greenback failed to sustain gain and ended the week mixed. Indeed, markets were overwhelmed by persistent strength in Australian dollar and Canadian dollar, as well as general weakness…

EUR/USD dropped further to as low as 1.3443 last week but recovered just ahead of 61.8% retracement of 1.2329 to 1.5143 at 1.3404. With 4 hours MACD crossed above signal line, initial bias is neutral this week and some sideway trading might be seen first. Nevertheless, short term outlook will…

USD/JPY’s rise from 88.57 accelerated to as high as 92.14 last week. The strong break of 91.26 resistance indicates that fall from 93.74 has completed with three waves down to 88.57 already. The corrective structure in turn argue that rise from 88.57 is probably resuming the rally from 84.81. Initial…

GBP/USD’s decline resumed last week after recovery was limited at 1.5814 and reached as low as 1.5350. Late recovery on Friday suggests that an intraday low is in place. Initial bias in neutral this week and some consolidations could be seen first. Nevertheless, recovery is expected to be limited well…

USD/CHF rose further to as high as 1.0897 last week but failed to sustain above medium term falling trend line and retreated sharply. With 4 hours MACD staying below signal line, initial bias is neutral this week. Some sideway consolidations could be seen but after all, another rise is still…

AUD/USD’s rebound from 0.8577 extended further to as high as 0.9035 resistance last week but was held below 61.8% retracement of 0.9327 to 0.8577 at 0.9041 and weakened. However subsequent fall was relatively brief and was contained by 4 hours 55 EMA and recovered strongly. Short term outlook is mixed…

USD/CAD’s fall from 1.0779 extended further last week after brief recovery was limited by 4 hours 55 EMA. Further decline is still expected as long as 1.0529 resistance holds. Fall from 1.0779 would continue towards 1.0205/23 support zone. On the upside, break of 1.0529 will indicate that fall from 1.0779…

EUR/GBP held above 0.8657 support last week and rebounded strongly towards the end. The development dampened the case that recovery from 0.8601 has completed at 0.8841 already and mixes up the outlook. We’ll stay neutral for the moment. On the upside, sustained trading above 0.8841 resistance will favor the case…

EURCHF continued to to stay in tight range last week and one thing to note is that the cross is still limited below 4 hours 55 EMA. We’d slightly favor downside as long as 1.4697 minor resistance holds and would expect EUR/CHF to crawl towards 1.4557 support next. On the…

EUR/JPY’s choppy consolidation from 120.69 continued last week and edged higher to 124.82. Initial bias remains neutral this week and some more recovery cannot be ruled out. But even in case of another rise, we’d continue to expect strong resistance in 124.73/126.96 resistance zone to conclude the consolidation and bring…