This is an analysis of the major pairs for last week, and a proposed strategy for next week for day traders.

EUR/USD

EUR/USD             is still in a down trend, with major resistances at: 1.14300, 1.14745, and 1.15320.
It has managed to break EMA-50 on Friday, but so far there are no clear signs of a trend reversal. If it continues to fall under EMA-50, this is a sign of the continuation of a strong bearish . We will go short on EUR/USD             if that happens.

Strong support is at: 1.13000, if this is broken down, then it’s a strong bearish (200 – 500 pips)

GBP/USD

GBP/USD             is also still bearish , with major resistances at: 1.29010, 1.30260, and 1.30790
The pair failed to break EMA-50, and hence, it’s so far still bearish . If it continues to fall below EMA-50, this is a clear sign of continuation of the bearish trend . We will only go short on cable as it continues bearish .

Short targets: 1.27310, and 1.27000, and 1.26660.

AUD/USD & NZD/USD

Although both AUD/USD             & NZD/USD             are still bearish , they had very strong bullish pushes on Friday towards EMA-200 and above. Still, both pairs took a break at EMA-200. If they continue to fall back under EMA-50, this is a sign of the continuation of the bearish trend . We will only go short if that happens.

USD/CHF & USD/CAD

Both USD/CHF             & USD/CAD             are still bullish despite testing EMA-50 and EMA-200 respectively. I expect both pairs (especially CAD to recover and continue bullish ). If that happens we will only go long in both pairs. No shorts till a complete reversal of the trend is detected.