Eur/Usd:

Initial bias is mildly on the upside this week for 1.1713 resistance as 21 and 55 EMA crosses upward for more rise on the 4 hours time-frame. Breach of 1.1713 (August 24 high) could be seen but we’d expect strong resistance from 38.2% retracement of 1.3993 to 1.0461 at 1.1810 to limit upside to complete the correction on the daily time-frame. Meanwhile, below 1.1086 will turn bias back to the downside for 1.0807 key near term support instead.

EURUSDH4

Gbp/Usd:

Strong price action rejection pattern in GBP/USD around 1.5169 (June 1 low) support last week suggests that corrective decline from 1.5929 could have completed with three waves down to 1.5163 already. Initial bias remains on the upside this week for 1.5817 resistance first as 21 and 55 EMA are crossed upward for more rise. The rise from 1.4565 might extend through 1.5929. But in that case, we’d expect strong resistance from 61.8% retracement of 1.7190 to 1.4565 at 1.6187 to limit upside. On the downside, below 1.5337 minor support will turn focus back to 1.5163 support instead.

GBPUSDH4

Nzd/Usd:

The NZD/USD tried to recover last week but met resistance at 0.6413 (September 3 high) which triggered a sharp decline after RBNZ cut its rate with -0.25bps and hinted about more cuts to come in the future. Initial bias remains on the downside as 21 and 55 EMA are crossed downward. More fall to 0.6243 support is expected and a break of it would bring further sell-off to 0.6152. However on the upside, a break of 0.6423 resistance will dampen the current bearish trend which could result into a consolidation trading scenario in the pair.

NZDUSDH4

Usd/Jpy:

Initial bias this week is neutral.

 

Aud/Usd:

Initial bias this week is neutral.

 

Usd/Cad:

Initial bias this week is neutral.

 

Usd/Chf:

Initial bias this week is neutral.

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