On-Line Forex Trading Tips

by: Setyo Wibowo

EURJPY Forecast
The EURJPY made indecisive movement yesterday, formed a Doji formation on daily chart. The bias is neutral in nearest term. However, on h1 chart below we have a falling wedge formation indicating potential upside scenario especially if the wedge violated to the upside, targeting 135.70 area. Immediate support is seen at 132.34 (yesterday’s low). Initial resistance at 134.40. Break above that area should trigger further bullish momentum. CCI in neutral area on daily chart.

GBPJPY Forecast
The GBPJPY had a moderate bearish momentum yesterday. The pair bottomed at 155.60 but closed higher at 156.98. The bias remains neutral in nearest term but I still expecting another downside attempt as the pair maintain to stay below trendline resistance and we also have bearish channel on h4 chart. On daily chart we also can see the pair has made lower highs and lows in the last 4 days. Immediate resistance is seen at 158.25. Initial support at 155.60 followed by 154.90. CCI in neutral area on h1 chart.

AUDUSD Forecast
The AUDUSD made another indecisive movement yesterday. I think we still in no trading zone and it’s better to keep out from the market. Immediate resistance is seen at 0.8000. Break above that area could trigger further bullish momentum towards 0.8100 area. Initial support at 0.7850 -0.7825 area. Break below that area should trigger further bearish momentum. CCI in neutral area on daily chart.

USDCHF Daily Forecast

The USDCHF had a bearish momentum yesterday. The pair bottomed at 1.0763 and closed at 1.0796. The bias is bearish in nearest term but on h4 chart below we have triangle formation indicating consolidation while the pair still trapped in 1.0975 – 1.0590 ranging area, so I think it’s not the best time to trade now. Immediate support is seen at 1.0730. Break below that area could trigger further bearish momentum towards 1.0650. Initial resistance at 1.0850. CCI in neutral area on daily chart.

USDJPY Daily Forecast

As I had expected, the USDJPY continued it’s bearish momentum yesterday. The pair hit my short target at 95.50 (bottomed there too!) and closed at 95.73. On daily chart below we can see that the price is now challenging the major trendline support. Break below the trendline should bring us into bearish medium outlook. The bias remains bearish in nearest term targeting 94.65 area. However CCI about to cross the -100 line up on h4 chart so watch out for a potential upside rebound testing 96.00 – 96.70 resistance area.

GBPUSD Daily Forecast

The GBPUSD made indecisive market yesterday, formed a Doji formation on daily chart. On h1 chart below we can see that the pair is still trapped in 1.6505 – 1.6215 ranging area. I think we are still in no trading zone and it’s better to keep stay out from the market. Break from the ranging area should give us clearer direction.

EURUSD Daily Forecast

The EURUSD had a bullish momentum yesterday. I think the situation is a little bit tricky right now and we must be very very patient. While “head and shoulders” bearish scenario seems to diminish since failure to move consistently below the neckline, a “flag” formation appear on daily chart suggesting bullish continuation scenario. I think we are still in no trading zone area and I don’t like this technical contradiction, but breakout to the upside of the flag area should trigger further bullish scenario back towards 1.4350 area. Immediate resistance is seen at 1.4050. Break above that area should trigger further bullish momentum. Initial support at 1.3850 followed by 1.3790.

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