On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD attempted to push lower yesterday, bottomed at 1.3878 but further downside scenario was rejected as the pair closed higher at 1.3982. The bias is neutral in nearest term . We still have no significant movement so far and no clear direction. Keep staying away from the market remains the best thing we can do for now. Only a clear break below 1.3750 could confirmed the bearish scenario. Immediate resistance is seen at 1.4050. Break above that area should trigger further bullish momentum testing 1.4176. CCI in neutral area on daily chart.

GBPUSD Daily Forecast

The GBPUSD made indecisive movement yesterday, formed a Doji formation on daily chart. The pair actually made a significant downside move, bottomed at 1.6094 but further bearish scenario was rejected as the pair whipsawed to the upside, closed much higher at 1.6281. I think we are now back in no trading zone and it’s better to stay away from the market. Immediate resistance is seen at 1.6350. Break above that area should trigger further bullish momentum. Initial support at 1.6180.

USDJPY Daily Forecast

The USDJPY attempted to push lower yesterday, bottomed at 94.67 but further bearish pressure was limited as the pair closed higher at 95.33. I still prefer downside scenario but as you can see in h4 chart below we have a hammer candlestick formation which is technically a potential warning of bullish reversal testing 96.00 and 96.70 resistance area. I think it’s better to stay away from the market now. Immediate support is seen at 94.50. Break below that area should trigger further bearish pressure.

USDCHF Daily Forecast

The USDCHF attempted to push higher yesterday, topped at 1.0953 but further upside scenario was rejected as the pair closed lower at 1.0836. This fact should bring us into no trading zone as we have no clear direction. Immediate support is seen at 1.0820. Break below that area should trigger further bearish pressure re-testing 1.0750. Initial resistance at 1.0970.

EURJPY Forecast
The EURJPY attempted to push lower yesterday. On h4 chart below we can see that the trendline support has been violated to the downside, bottomed at 131.74 but price retreat to the upside and closed higher at 133.31. I still prefer downside scenario, but this fact should lead us into no trading zone. Immediate resistance is seen at 134.80. Initial support at 131.74 (yesterday’s low).

GBPJPY Forecast
The GBPJPY attempted to push lower yesterday. On h4 chart below we can see that the support trendline has been violated to the downside, bottomed at 153.05 but further bearish scenario was limited as the pair closed much higher at 155.26. The bias is neutral in nearest term and I think we are in no trading zone but as long as the pair stay below 156.60 I prefer downside scenario in medium term. Immediate support is seen at 154.20 followed by 153.05 (yesterday’s low).

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 0.7877 but further bearish scenario was rejected as the pair closed higher at 0.7974. On h4 chart below we can see that this was the case of a false breakout from the triangle. The bias is neutral in nearest term and I think we are in no trading zone now. Immediate support is seen at 0.7850. Initial resistance at 0.8050. In medium term, 0.7710 should be the key level support. CCI in neutral area on daily chart.

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