EURUSD Outlook

The EURUSD attempted to push lower on Friday, bottomed at 1.3585 but closed higher at 1.3664, formed a hammer candlestick formation on daily chart indicating potential upside correction testing 1.3750 resistance area, but overall the bearish scenario should remains intact as long as price move inside the bearish channel and I still prefer to sell on rallies.

Break above 1.3750 area could trigger further bullish correction back towards 1.3850 even 1.4030 area. Initial support at 1.3585 (Friday's low). Break below that area should trigger further bearish momentum with technical target around 1.3490 - 1.3400 area this week.

GBPUSD Outlook

The GBPUSD continued its bearish momentum on Friday, break below 1.5707, bottomed at 1.5557 but closed a little bit higher at 1.5629. This fact should trigger further bearish scenario in long term targeting 1.5250 area but the nearest bias is neutral. CCI in oversold area and heading up on h4 chart suggesting potential upside correction testing 1.5650 - 1.5707 area. Break above 1.5707 should trigger further bullish momentum towards 1.5800. Immediate support at 1.5550 - 1.5500 area. Break below that area should trigger further bearish scenario towards 1.5250 area this week.

USDJPY Outlook

The USDJPY was corrected higher on Friday, topped at 89.87 but closed lower at 89.37. The bias is neutral in nearest term but overall I still prefer a bearish scenario with technical target around 86.60 area this week after the trendline support (red) was violated on Thursday (Feb 04). Immediate resistance at 90.00 area. Initial support at 88.50.

USDCHF Outlook

The USDCHF attempted to push higher on Friday, topped at 1.0794 but closed lower at 1.0728. Overall direction remains to the upside with nearest target around 1.0850 before testing 1.1000 but as you can see on daily chart below, price is moving lower after touched the upper line of the bullish channel indicating potential downside pullback testing 1.0700 support area. Break below that area should lead us into to trading zone in nearest term but I still prefer a bullish scenario as long as the bullish channel valid.

EURJPY Outlook

The EURJPY made indecisive movement on Friday. On h4 chart below we have a hammer formation indicating potential upside pullback after significant bearish momentum on Thursday, especially if price able to move consistently above 122.10, testing 123.30 today. Initial support at 120.69 (Friday's low). Break below that area should continue the bearish scenario towards 117.50 in longer term.

GBPJPY Outlook

The GBPJPY attempted to push lower on Friday, bottomed at 138.23 but closed higher at 139.69. I still prefer a bearish scenario at least targeting 137.80 area but the nearest bias is neutral. CCI in oversold area and heading up on h4 chart suggesting potential upside pullback testing 140.28. Break above that area could trigger further upside correction testing 141.50 resistance area. Initial support at 139.30. Consistent move below that area should trigger further bearish momentum.

AUDUSD Outlook

The AUDUSD made indecisive movement on Friday. Price attempted to push lower, bottomed at 0.8576 but closed higher at 0.8670. The bias is neutral in nearest term but overall I still prefer a bearish scenario with sell on rallies strategy. Expected range at 0.8575 - 0.8780.