On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD had a moderate bearish momentum on Friday. On h4 chart below we can see that the trendline support has been violated to the downside. Surely we do not have significant movement so far as the pair has been showing no clear direction in the last several weeks but this fact should lead us into more downside pressure testing 1.3750 key level area. Immediate resistance is seen at 1.4050. CCI about to cross the -100 line down on h4 chart suggesting potential downside pressure.

GBPUSD Daily Forecast

The GBPUSD had a moderate bearish momentum on Friday. The pair bottomed at 1.6302 and closed at 1.6321. The violation to the downside of the trendline support on h4 chart below should keep the downside pressure testing 1.6180 key level area. Break below that area should trigger further bearish scenario. Immediate resistance is seen at 1.6350 followed by 1.6425. CCI about to cross the -100 line down on daily chart suggesting potential downside pressure.

USDJPY Daily Forecast

The USDJPY didn’t have significant movement on Friday, had only 43 pips movement indicating hesitation and indecisive market. I still prefer downside pressure for this week at least testing 94.50 area. On the upside, 96.70 resistance area remains important for this week. CCI in neutral area on both h4 and daily chart.

USDCHF Daily Forecast

The USDCHF had a moderate bullish momentum on Friday. Similar to the EURUSD, we do not have clear direction in medium term so far, but the fact that the trendline support hold and the triangle has been violated to the upside should trigger further upside pressure testing 1.0970 area. Immediate support at 1.0825 followed by 1.0780. CCI in neutral area on daily chart.

EURJPY Forecast
The EURJPY had indecisive movement on Friday, formed a Doji formation on Daily chart. We have no clear direction so far but the bullish failure on Thursday should trigger further downside pressure testing the trendline support area (see chart below). Immediate support at 132.90. Initial resistance at 134.80. CCI in neutral area on daily chart.

GBPJPY Forecast
The GBPJPY had a moderate bearish momentum on Friday. On h4 chart below we can see that the pair is in critical phase as the pair is now testing the trendline support. Break below the trendline support should lead us to further bearish outlook. Immediate support at 155.80. Break below that area should trigger further bearish momentum towards 154.75 area. Initial resistance at 157.30. CCI just cross the -100 line down on daily chart suggesting potential downside pressure.

AUDUSD Forecast
The AUDUSD had a moderate bullish momentum on Friday. The bias is neutral in nearest term but the confirmed H&S bearish scenario on h1 chart below should lead us to further bearish pressure. Immediate support is seen at 0.7900. Break below that area should trigger further bearish pressure towards 0.7850. Initial resistance at 0.8000. CCI about to cross the -100 line down on h4 chart suggesting potential downside pressure.

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