EURUSD Forecast:
The EURUSD continued its bearish momentum on Friday, bottomed at 1.3862 and closed at 1.3863. This fact should keep the bearish scenario intact testing 1.3750 key support area. Break below that area should trigger further weakness for the Euro targeting 1.3490 this week. However CCI just cross the -100 line up on h1 chart suggesting potential minor upside correction testing 1.3925/50 area. Break above that area should trigger further bullish correction towards 1.4000/30 area. As long as price stay below 1.4000/30 area I still prefer a bearish scenario.
GBPUSD Forecast:
The GBPUSD had a significant bearish momentum on Friday as price violated the trendline support, fell below 1.6000, bottomed and closed at 1.5982. This fact should trigger further bearish bearish momentum targeting 1.5800 this week. However CCI in oversold area and about to cross the -100 line up on h1 chart suggesting potential upside rebound testing 1.6000/40 resistance area. Break above that area could trigger further bullish pullback towards 1.6105 and lead us into no trading zone as direction would become unclear.
USDJPY Forecast:
The USDJPY attempted to push higher on Friday, slipped above the bearish channel but further bullish momentum was rejected as price closed lower and now back inside the bearish channel. This fact could be seen as potential false breakout scenario which could trigger a bearish momentum today testing 89.60 – 89.00 area. Immediate resistance at 90.50/60. Break above that area should trigger further bullish momentum testing 91.85.
USDCHF Forecast
The USDCHF had a bullish momentum on Friday, topped at 1.0641 and closed at 1.0604. This fact should keep the bullish scenario intact targeting at least 1.0700 before aim for 1.0930 – 1.1000 area. However CCI just cross the 100 line down on h1 chart suggesting potential downside correction testing 1.0580 area. Break below that area should lead us into no trading zone but as long as price stay above 1.0507 I still prefer a bullish scenario.
EURJPY Forecast
The EURJPY made another bullish attempt on Friday, topped at 126.67 but once again, further bullish momentum was rejected as price closed lower at 124.80. This fact should keep the bearish scenario intact targeting 124.50 area. Break below that area should trigger further bearish momentum targeting 122.10 area this week. Immediate resistance at 125.65. Break above that area should trigger further bullish momentum testing 126.89 area.
GBPJPY Forecast
The GBPJPY was closed lower on Friday and price is now traded below the triangle area indicating potential bearish view. The bias is bearish in nearest term targeting 142.00. Immediate resistance at 144.40 area. Break above that area should lead us into no trading zone in nearest term but I prefer a bearish scenario with sell on rallies strategy at this phase.
AUDUSD Forecast
The AUDUSD continued its bearish momentum on Friday, bottomed at 0.8846 and touched 0.8812 level earlier today in Asian session. This fact should keep the bearish scenario intact but we need a movement below 0.8810 area to continue the bearish scenario towards 0.8733 area. Immediate resistance at 0.8870 followed by 0.8910 area.
