On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD made indecisive movement yesterday. The pair attempted to push lower, bottomed at 1.3982 but closed higher at 1.4080. On h4 chart below we still have valid trendline support and as long as the trendline support hold, the key resistance level 1.4176 area remains potential upside target. The bias remains neutral both in nearest and medium term. Immediate support is seen at 1.3982 (yesterday’s low) followed by 1.3850. Break below 1.3850 should trigger further bearish pressure re-testing key support level 1.3750. CCI just cross the 100 line down on h1 chart suggesting potential downside pressure.

GBPUSD Daily Forecast

The GBPUSD had a moderate bullish momentum on yesterday. On h4 chart below we have minor bullish channel indicating potential further upside pressure re-testing 1.6660 key resistance level. Below that area, the medium term outlook remains neutral and expect trading range between 1.6660 – 1.6188. Immediate support is seen at 1.6505 – 1.6450 area. CCI about to cross the 100 line down on h4 chart suggesting potential downside consolidation.

USDJPY Daily Forecast

The USDJPY was corrected higher yesterday. On h4 chart below we can see that the pair is now re-testing the trendline resistance. I think this is a normal correction and as long as the pair stay below key resistance 96.70 I still prefer downside scenario. The bias is bullish in nearest term testing 96.70 resistance area. Immediate support is seen at 95.00. CCI in neutral area on daily chart.

USDCHF Daily Forecast

The USDCHF made indecisive movement yesterday, formed a Doji formation on daily chart. We have bearish channel as shown on h4 chart below as a result of the market’s disagreement with SNB intervention. The bias is neutral in both nearest and medium term but 1.0750 area remains a potential downside target and important support area. Break below that area should trigger further bearish scenario re-testing 1.0630. CCI in neutral area on daily chart.

EURJPY Forecast
As I had expected, the EURJPY had a bullish momentum yesterday. The pair topped at 135.46 and closed at 135.27. Earlier today in Asian session the pair keep moving relatively higher around 135.60 at the time I wrote this comment. The bias is bullish in nearest term targeting 136.30. Immediate support is seen at 135.35 – 134.80 area. Break below that area should be seen as bullish failure and bring us into no trading zone.

GBPJPY Forecast
The GBPJPY finally had a convincing bullish momentum after 4 days of indecisive movement. The pair topped at 159.29 and closed at 159.11. The bias is bullish in nearest term but watch out for potential strong resistance around 159.60 area. Break above that area should trigger further bullish momentum targeting 161.20. Immediate support is seen at 158.50. Break below that area should take us back into no trading zone.

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 0.7982 but further bearish momentum was rejected as the pair closed higher at 0.8080. I have 2 technical focus on this movement. First, the pair able to stay outside the triangle. Second, the pair stay above 0.8050. Both support the bullish side in nearest term targeting 0.8150 and 0.8260. Immediate support is seen at 0.7982 (yesterday’s low). Break below that area should lead us back into no trading zone. CCI about to cross the 100 line up on daily chart suggesting potential upside pressure.

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