EUR/USD last week registered a rally, which tested the resistance level 1.0900 before falling by almost 250 pips. Price closed in proximity to the support level 1.0650, which could be broken. The next short targets sit at the other support lines at 1.0600 and 1.0550. The overall bias for this cross and other EUR pairs is bearish for this month, but there could be rally attempts.
A bullish move last week tested the distribution area around 1.2600 before falling to the accumulation area around 1.2400. Several unsuccessful attempts to break that zone were registered before the climbing towards the resistance level at 1.2550. The levels 1.2600 and 1.2650 could be tested this week. There could also be an increase in volatility on this cross as on the other GBP pairs.
This pair climbed last week, but not enough to corrupt the current bearish outlook. Price reached the resistance level at 112.00 and later closed below the 111.50. The expectation of a very strong bullish move last week was achieved. Price may continue to climb, but not in a strong fashion. The bias on JPY pairs is bearish for this month.
This pair made an upward move last week after moving shortly below the support level at 0.9850, and then closing above the support level at 1.0000. A decisive close above the resistance level at 1.0050 will pose a serious threat to the recent bearish outlook; a movement above the resistance level at 1.0100 will result in a bullish bias. Price action this month will be largely determined by what happens to EUR/USD.