Fri, 27th of February, 2009
By Setyo Wibowo (analyst@fxinstructor.com)
EURUSD Outlook
The EURUSD didn’t make a significant movement yesterday. On hourly chart we have symmetrical triangle indicating a consolidation phase. The bias is neutral in nearest term. Immediate support is seen at 1.2650. Break below that level could trigger further bearish scenario targeting 1.2500 area. Initial resistance at 1.2807 (yesterday’s high). CCI about to cross the -100 line down on hourly chart suggesting a potential downside pressure.
EURUSD Daily Supports and Resistances:
S1= 1.2680
S2= 1.2618
S3= 1.2555
R1= 1.2805
R2= 1.2868
R3= 1.2930
GBPUSD Outlook
The GBPUSD had a moderate bullish movement yesterday. The pair topped at 1.4382 and closed at 1.4314. On 4h chart we can see that the major trend remains bearish but I think the bias unclear in nearest and medium term, so it’s better to keep stay out from the market. Immediate support is seen at 1.4250 followed by 1.4130. Initial resistance at 1.4382 (yesterday’s high). CCI in neutral area in all three time frames (hourly, 4h, daily).
GBPUSD Daily Supports and Resistances:
- S1= 1.4189
- S2= 1.4064
- S3= 1.3968
- R1= 1.4410
- R2= 1.4506
- R3= 1.4631
USDJPY Outlook
The USDJPY continued it’s bullish momentum yesterday. The pair hit my long target at 98.25, topped at 98.69 and closed at 98.50. The bias remains bullish targeting 100.00 area. CCI just cross the 100 line down on hourly chart so watch out for a potential downside pressure testing 97.80 support area.
USDJPY Daily Supports and Resistances:
- S1= 97.64
- S2= 96.78
- S3= 96.26
- R1= 99.02
- R2= 99.54
- R3= 100.4
USDCHF Outlook
The USDCHF had a moderate bearish movement yesterday. On hourly chart we have a symmetrical triangle indicating a consolidation phase. The bias is neutral in nearest term. Immediate support is seen at 1.1600. Initial resistance at 1.1740. CCI in neutral area in all three time frames (hourly, 4h, daily).
USDCHF Daily Supports and Resistances:
- S1= 1.1580
- S2= 1.1520
- S3= 1.1447
- R1= 1.1713
- R2= 1.1786
- R3= 1.1846
Labels: Forex Analysis, forex signal, Forex Trend, Market Analysis, Market Trend, money trading
