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After edging higher to 1.0307, USD/CAD turned into sideway consolidation last week. Intraday outlook is neutral initially this week. But a break of 1.0234 minor resistance will argue that pull back from 1.0307 has completed already. In such case, further
EUR/JPY's rebound from 151.71 extended further to as high as 158.35 last week, confirming that fall from 161.38 has completed already. Though, the current rebound is still being limited by 55 days EMA (now at 157.71). Also, with 4 hours
GB/JPY continues to be bounded in choppy consolidation inside established range of 195.06 and 201.84 last week. The structure of the price actions from 192.60 low so far suggests that such consolidation is set to extend further. Nevertheless, upside is
Despite edging higher to 101.03, USD/JPY's rebound from 95.77 was limited below mentioned 101.23 resistance and turned sideway. The structure of the price actions from 101.03 is not providing much indication on whether consolidation from 95.77 has completed. Initial outlook
USD/CHF's corrective rebound from 0.9634 was limited at 1.0249, below mentioned 1.0352 resistance zone last week. Though, subsequent was then contained above 0.9866 support and turned into sideway trading in very tight range. As discussed before, with 1.006 minor resistance
AUD/USD's strong rebound last week suggests that correction from 0.9496 has completed with three waves down to 0.8953, supported above mentioned 0.8873 support zone. AUD/USD turned sideway after reaching 0.9252 and subsequent consolidation dragged 4 hours MACD below signal line.
Much volatility was seen in cable last week, rebounding further to as high as 2.0193 and then falling back to as low as 1.9880. Larger than expected moves mixed up the short term outlook. Nevertheless, with 4 hours MACD staying
