On-Line Forex Trading Tips

EURJPY Forecast
The EURJPY continued it’s bearish momentum yesterday. The pair bottomed at 132.71 and closed at 133.35. On daily chart below we can see that the pair seems ready to test the bullish trendline support. The bias is bearish in nearest term targeting 131.50 but remains neutral in medium term. CCI in oversold area and about to cross the -100 line up on h4 chart so watch out for potential upside rebound testing 134.25 resistance area. Break above that area should lead us to no trading zone.

GBPJPY Forecast
We had a volatile market yesterday. The GBPJPY hit my short target at 156.60, bottomed at 156.45 before whipsawed to the upside, hit the top at 160.34 and closed at 158.13. On h4 chart below we can see that after violated the trendline to the downside, price attempted to move back testing the trendline (now become resistance) but the trendline holds so far. The bias is neutral in nearest term but as long as the trendline resistance hold, expect further downside pressure. Immediate resistance at 158.85. Break above that area should bring us into no trading zone. Initial support is seen at 156.20. Break below that area should trigger further bearish momentum targeting 154.90 area.

AUDUSD Forecast
The AUDUSD didn’t make significant movement yesterday. The pair attempted to push higher, topped at 0.8056 but closed lower at 0.7930. The bias is neutral in nearest term and I think we are in no trading zone area. However I am expecting further bearish pressure testing key support level around 0.7825 area. Immediate resistance is seen at 0.8056 (yesterday’s high) break above that area should trigger further bullish momentum.

USDCHF Daily Forecast

The USDCHF bullish momentum was paused yesterday. The pair bottomed at 1.0822 and closed at 1.0882. The bias is neutral in nearest term and I think we are now in no trading zone. However I am expecting another bullish attempt testing 1.0975 resistance area today. Break above that area should trigger further bullish outlook. Immediate support at 1.0822 (yesterday’s low). CCI about to cross the 100 line up on h1 chart suggesting potential upside pressure.

USDJPY Daily Forecast

The USDJPY had a significant bearish momentum yesterday. On h4 chart below we can see that the triangle has been violated to the downside suggesting a bearish view. The bias is bearish in nearest term targeting 95.50 area. Immediate resistance is seen at 96.70 area. CCI about to cross the -100 line down on h1 chart suggesting potential downside pressure.

GBPUSD Daily Forecast

The Sterling attempted to fight back against Greenback yesterday. The pair made a false breakdown below 1.6240, bottomed at 1.6212 but whipsawed to the upside, topped at 1.6505 and closed lower at 1.6407. For me this fact show unclear direction in nearest term and I think it’s better to stay away from the market now and wait for further development. Expect ranging area between 1.6505 – 1.6240.

EURUSD Daily Forecast

The EURUSD didn’t make significant movement yesterday. The pair attempted to push lower, bottomed at 1.3747 but further bearish momentum was rejected as the price whipsawed to the upside, top at 1.3930 but closed lower at 1.3857. The bias is neutral in nearest term and I think we are now in no trading zone, but I still focus on the potential head and shoulders bearish scenario especially if the price manage to move consistently below 1.3790. Immediate resistance at 1.3930 (yesterday’s high) followed by 1.4050.

Labels: Forex Analysis, forex signal, Forex Trend, Market Analysis, Market Trend, money trading