Wed, 15th of April, 2009
By Setyo Wibowo (analyst@fxinstructor.com)
EURUSD Outlook
The EURUSD was traded lower yesterday. The pair failed to stay above 1.3340, bottomed at 1.3225 and closed at 1.3258. On daily chart below we have descending triangle formation in a bearish major trend, so technically for me the pair should remains in bearish outlook. The bias is bearish in nearest term testing 1.3100 support area. Immediate resistance is seen at 1.3290 – 1.3310 area. CCI in neutral area on both 4h and daily chart.
EURUSD Daily Supports and Resistances:
- S1= 1.3195
- S2= 1.3133
- S3= 1.3041
- R1= 1.3349
- R2= 1.3441
- R3= 1.3503
GBPUSD Outlook
The GBPUSD had a moderate bullish momentum yesterday. The pair topped at 1.4942 but closed lower at 1.4891. On 4h chart we have CCI divergence as a potential warning that the bullish power might be exhausted now. The bias is neutral in nearest term. Immediate resistance remains at 1.4960/80 area. Break above that area could trigger further bullish scenario. Initial support at 1.4870. Break below that level could trigger further bearish momentum targeting 1.4750 area. CCI about to cross the 100 line down on 4h chart suggesting a potential downside pressure.
GBPUSD Daily Supports and Resistances:
- S1= 1.4829
- S2= 1.4767
- S3= 1.4711
- R1= 1.4947
- R2= 1.5003
- R3= 1.5065
USDJPY Outlook
The USDJPY had a bearish momentum yesterday. After violated the trendline support to the downside, the pair had a bearish momentum, bottomed at 98.73 and closed at 98.97. The bias is bearish in nearest term but wee seem to have a good support around 98.50 area. Break below that area could trigger further bearish momentum targeting 97.50 area. CCI just cross the -100 line up on hourly chart suggesting a potential minor upside pressure testing 99.15 resistance area.
USDJPY Daily Supports and Resistances:
- S1= 98.33
- S2= 97.69
- S3= 96.65
- R1= 100.01
- R2= 101.05
- R3= 101.69
USDCHF Outlook
The USDCHF was corrected higher yesterday. The pair topped at 1.1446 but closed lower at 1.1384. On 4h chart below we can see that the trendline support has been doing a good job preventing further bearish pressure. However the bias remains unclear in nearest term. Immediate resistance is seen at 1.1446 (yesterday’s high). Initial support at 1.1340. CCI in neutral area in all three time frames (hourly, 4h, daily).
USDCHF Daily Supports and Resistances:
- S1= 1.1320
- S2= 1.1257
- S3= 1.1194
- R1= 1.1446
- R2= 1.1509
- R3= 1.1572
Labels: Forex Analysis, forex signal, Forex Trend, Market Analysis, Market Trend, money trading
