On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD had a moderate bearish momentum yesterday. The pair attempted to push higher, topped at 1.4000 but closed lower at 1.3898. On h1 chart below we still have a valid minor bullish channel but bullish scenario is not confirmed yet as long as the trendline resistance hold. So, I think it’s better to keep out from the market and wait for further development. It’s not the best time to trade now since we have no convincing and clear movement during this week. Immediate support is seen at 1.3850 followed by 1.3747. Break below those area should trigger further bearish scenario towards 1.3650. Initial resistance at 1.4050. Break above that area should trigger further bullish momentum towards 1.4350. CCI in neutral area on daily chart.

GBPUSD Daily Forecast

So far this week, similar to the EURUSD, the GBPUSD has been showing no clear direction. On h1 chart below we can see that yesterday the pair attempted to push lower, bottomed at 1.6187 but further bearish scenario was rejected as the pair whipsawed to the upside and closed higher at 1.6329. Staying away from the market is the best thing to do now. Expect another ranging area between 1.6505 – 1.6215. CCI in neutral area on daily chart.

USDJPY Daily Forecast

The USDJPY was corrected higher yesterday. On h1 chart below we can see that the pair is now testing the 38.2% Fibo retracement (of 98.55 – 95.50 ) area around 96.70. So far, this upside correction is normal, but break above 96.70 area should trigger further upside momentum. Immediate support is seen at 95.62 (yesterday’s low). CCI in neutral area both on h4 and daily chart.

USDCHF Daily Forecast

The USDCHF had a bullish momentum yesterday. The pair topped at 1.0896 and closed at 1.0861. However for me this bullish momentum is not enough to confirm bullish scenario since the pair still trapped in 1.0975 – 1.0590 ranging area and still moving inside the triangle on h4 chart below. I think it’s better to stay away from the market and let this week be a “no trading week” for us.

EURJPY Forecast
The falling wedge formation gave us a valid warning about bullish scenario yesterday. I am expecting this bullish scenario continue today. The bias is bullish in nearest term targeting 135.70. Immediate support is seen at 133.80. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.

GBPJPY Forecast
The GBPJPY bearish momentum was paused yesterday. The pair attempted to push lower, bottomed at 154.96 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 158.42 and closed at 157.52. On h4 chart below we can see that the price is now testing the bearish channel. Violation to the bearish channel should trigger further bullish scenario back towards 159.35 area. Immediate support is seen at 156.50. CCI in neutral area both on h4 and daily chart.

AUDUSD Forecast
The AUDUSD didn’t make significant movement yesterday. The pair attempted to push higher, topped at 0.8052 but closed lower at 0.7980. I think we are still in no trading zone and it’s better to stay out from the market. On daily chart below we have triangle formation after bullish momentum indicating consolidation phase. Immediate resistance is seen at 0.8100. Break above that area should trigger further bullish scenario back towards 0.8260 area. Initial support at 0.7900. CCI in neutral area on daily chart.

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