On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD had a significant bullish momentum yesterday. The pair topped at 1.4106 and closed at 1.4076. On h4 below we can see that the trendline resistance has been violated to the upside indicating potential bullish view. The bias is bullish in nearest term targeting 1.4176 area. CCI in overbought area and heading down on h4 chart so watch out for potential bearish rebound testing 1.4000 support area. Break below that area should lead us into no trading zone.

GBPUSD Daily Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.6208 but further bearish momentum was rejected as the pair whipsawed to the upside, topped at 1.6471 and closed at 1.6450. On h4 chart below we can see that this was the case of a false triangle breakdown. The bias is bullish in nearest term testing 1.6505/59 area but remains neutral in medium term. CCI just cross the 100 line down on h1 chart so watch out for potential downside rebound testing 1.6350 support area. Break below that area should lead us into no trading zone.

USDCHF Daily Forecast

The USDCHF had a significant bearish momentum yesterday. On h4 chart below we can see that after violated the triangle to the downside, the pair had bearish momentum, bottomed at 1.0642 and closed at 1.0665. The bias is bearish in nearest term targeting 1.0540. We seem to have good support around 1.0642 area (yesterday’s low). Break below that area should trigger further bearish momentum. CCI just cross the -100 line down on daily chart suggesting potential bearish pressure.

EURJPY Forecast
The EURJPY failed to continued it’s bearish momentum yesterday. The pair attempted to push lower, bottomed at 131.42 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 134.37 and closed at 134.02. On h4 chart below we can see that this was a case of false breakdown and we have to assume that the trendline support did a good job preventing further bearish attack. The bias is neutral in both nearest and medium term. Immediate resistance is seen at 135.35. Initial support at 132.50. CCI in neutral area on h4 chart.

GBPJPY Forecast
The GBPJPY had indecisive movement yesterday, formed a Doji formation on daily chart. The pair attempted to push lower yesterday, bottomed at 154.06 but further bearish scenario was rejected as the pair closed higher at 156.62. I think we are now in no trading zone and it’s better to wait for further development. Immediate resistance is seen at 156.90. Break above that area should trigger further upside pressure. Initial support at 155.80. CCI in neutral area on h4 chart.

AUDUSD Forecast
The AUDUSD failed to continued it’s bearish scenario yesterday. On daily chart below we can see that the 23.6% Fibo retracement ( of 0.6280 – 0.8261 ) support area around 0.7800 did a good job preventing the pair from further bearish attack. The bias is bullish in nearest term targeting 0.8050 area. Immediate support is seen at 0.7905. Break below that area should lead us into no trading zone. CCI in neutral area on h4 chart.

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