On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD had a bearish momentum yesterday. The pair bottomed at 1.3826 and closed at 1.3864. The bias remains neutral in nearest term but we might have another downside momentum testing key level support around 1.3750 area. Break below that area should trigger further bearish scenario towards 1.3650 area. Immediate resistance is seen at 1.3950 (yesterday’s high). CCI in neutral area on h1 chart.

GBPUSD Daily Forecast

The GBPUSD failed to continue it’s bullish scenario yesterday. The pair bottomed at 1.6319 and closed at 1.6345. The bias is bearish in nearest term, but on h4 chart below we can see that actually the pair still trapped in triangle area. A breakdown from the triangle should trigger further bearish momentum targeting 1.6200 area. CCI just cross the -100 line up on h1 chart suggesting potential upside pressure testing resistance around 1.6450 area. Break above that area should trigger further bullish momentum back towards 1.6505/59 area.

USDJPY Daily Forecast

The USDJPY had moderate bearish momentum yesterday. On h4 chart below we can see that the price is now testing trendline support. Break below the trendline support should trigger further bearish momentum targeting 94.50 area. Immediate resistance is seen at 96.50. Break above that area should lead us into no trading zone.

USDCHF Daily Forecast

The USDCHF had a bullish momentum yesterday. On h4 chart below we have breakout from triangle but the bullish momentum was not very convincing. However I am expecting further bullish attempt today testing 1.0950/70 area. Immediate support is seen at 1.0830. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.

EURJPY Forecast
The EURJPY had a bearish momentum yesterday. The pair bottomed at 132.48 and closed at 132.91. The bias is bearish in nearest term. On h4 chart below we can see that the pair is at critical phase, testing the trendline support. Break below the trendline support should trigger further bearish momentum targeting 130.70 area. Immediate resistance is seen at 133.15. Break above that area should lead us into no trading zone. CCI just cross the -100 line down on daily chart suggesting potential downside pressure.

GBPJPY Forecast
After corrected higher on Friday, the GBPJPY continued it’s bearish momentum yesterday. On daily chart below we have descending triangle formation indicating potential bearish scenario with 154.90 as key support level. Break below that area should trigger further bearish momentum testing 151.70 and the trendline support area. Immediate resistance is seen at 156.40 followed by 157.05. CCI just cross the -100 line down on h4 chart suggesting potential downside pressure.

AUDUSD Forecast
The AUDUSD had significant bearish momentum yesterday. The pair bottomed at 0.7850 and closed at 0.7855. On Fibonacci retracement study (of 0.6280 – 0.8261) at daily chart below we can see that the pair is now testing 23.6% support area around 0.7800 which should be a key support level at this phase. Break below that area should trigger further bearish momentum targeting 0.7700 area. Immediate resistance is seen at 0.7930. Break above that area should lead us into no trading zone.

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