On-Line Forex Trading Tips

AUDUSD Daily Outlook
The AUDUSD was corrected lower on Friday. On h4 chart below we can see that the pair is trapped between 0.8261 and 0.7830 ranging area in medium outlook. The bias is bearish neutral both in nearest and medium term and I think it’s better to stay away and wait form further development. Immediate support is seen at 0.8030 followed by 0.7985. Break below those area should trigger further bearish momentum. Initial resistance at 0.8130. CCI just cross the 100 line down on daily chart suggesting potential downside pressure.

AUDUSD Daily Supports and Resistances:

S1= 0.8056
S2= 0.7981
S3= 0.7904
R1= 0.8208
R2= 0.8285
R3= 0.8360

GBPJPY Daily Outlook

The GBPJPY bullish momentum was paused on Friday. On daily chart below we can see that after the bullish power paused, the pair was traded lower early today in Asian market. The bias is bearish in nearest term but we seem to have good support around 160.40 area. Break below that area should trigger further bearish correction towards 159.20. Initial resistance at 162.57 (Friday’s high). Break above that area could trigger further bullish continuation. CCI about to cross the 100 line down on daily chart suggesting potential downside pressure.

GBPJPY Daily Supports and Resistances:

S1= 160.50
S2= 159.43
S3= 158.40
R1= 162.60
R2= 163.63
R3= 164.70

EURJPY Daily Outlook

The EURJPY made indecisive movement on Friday, formed a Doji formation on daily chart. I think the pair is in critical phase right now. The bullish momentum since January 21 is now testing key level around 139.20 area. Break above that area should trigger further bullish scenario. The bias is neutral in nearest term. Immediate resistance is seen at 138.27 (Friday’s high). Break above that area should trigger further bullish momentum testing 139.20. Initial support at 136.20. CCI in neutral area on h4 chart.

EURJPY Daily Supports and Resistances:

USDJPY Daily Outlook

The USDJPY had a bullish momentum on Friday. On h4 chart below we can see that the triangle formation has been violated to the upside suggesting further bullish continuation. We seem to have good resistance around 98.80 area. Break above that area should trigger further bullish scenario towards 99.70 area. Immediate support is seen at 97.90. Break below that area could bring us into no trading zone.

USDJPY Daily Supports and Resistances:

S1= 97.73
S2= 97.12
S3= 96.78
R1= 98.68
R2= 99.02
R3= 99.63

GBPUSD Daily Outlook

The GBPUSD also had bearish momentum on Friday. On h4 chart below we can see that the bearish momentum came after price failed to break above 1.6660 area. The bias is bearish in nearest term testing 1.6240 area but remains neutral in medium term and I think it’s not the best time to trade now. Immediate resistance is seen at 1.6475 – 1.6510 area. Initial support at 1.6320. Break below that area should trigger further weakness for Sterling towards 1.6240 area. CCI just cross the 100 line down on daily chart suggesting potential downside pressure.

GBPUSD Daily Supports and Resistances:

S1= 1.6307
S2= 1.6187
S3= 1.6042
R1= 1.6572
R2= 1.6717
R3= 1.6837

EURUSD Daily Outlook
The EURUSD had a bearish momentum on Friday. On h4 chart below we can see that the price has been testing the trendline support for several times now but the trendline support still hold. Technically I think the Euro is still under pressure and if the trendline violated to the downside we should see further downside momentum testing 1.3790 key support level. Immediate support is seen at 1.3920. Break below that area could trigger further bearish momentum. Initial resistance at 1.4050. Break above that area should bring us into no trading zone. CCI about to cross the 1– line down both on h1 and h4 chart suggesting a potential downside pressure.

EURUSD Daily Supports and Resistances:

• S1= 1.3914
• S2= 1.3830
• S3= 1.3723
• R1= 1.4105
• R2= 1.4212
• R3= 1.4296

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