EURUSD closing last Friday just moderately higher, the EURUSD climbed towards 1.3581 at mid European session. The pair began coming off and eventually closing the day at 1.3540. Bias for the pair remains to the upside as long as the pair is trading above 1.3460, with targets objectives at the monthly highs. A break below 1.3460 would shift short term bias to the downside targeting 1.3400 initially.
NZDUSD coming off to weekly lows on Thursday last week, but quickly bouncing back towards the daily opens. Indicating that break lower was false. The NZDUSD opening Monday trading higher, posting a new monthly high at 0.8376. Targets objectives are the Sep highs at 0.8433. Alternatively a move below last Thursday’s lows at 0.8230 would shift short term bias to the downside with targets at 0.8190 initially, followed by 0.8160.
Pound dollar has been consolidating for the last 2 trading days posting a long bearish day last Wednesday. The pair placed a top earlier on the month at 1.6260 and came off nearly 350 pips from the monthly highs. Last Wednesday’s declines seems impulsive indicating that latest declines could extended further, target objectives are at 1.5750 former resistance, now acts as support. Alternatively a break above last Wednesday’s highs at 1.6120 would negate our outlook and shift bias to the upside targeting the monthly highs at 1.6260.