On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD had a bullish momentum yesterday. On daily chart below we can see that the price was convincingly break above the upper line of the triangle and consistently move above 1.4176. It’s still too early for bullish view but this fact should trigger further upside attempt re-testing 1.4336 area and give us hope to get out from indecisive market condition in the last several weeks. CCI on overbought area and heading down both on h4 and daily chart so watch out for potential downside rebound testing 1.4176 area. Break below that area should lead us back into no trading zone.

GBPUSD Daily Forecast

The GBPUSD had a bullish momentum yesterday, topped at 1.6556 and closed at 1.6547. The bias is bullish in nearest term testing key resistance area 1.6660. However as long as the pair moves below that area, the medium outlook remains unclear. Immediate support is seen at 1.6470. Break below that area should trigger further bearish momentum. CCI just cross the 100 line up on daily chart suggesting potential upside pressure.

USDJPY Daily Forecast

The USDJPY attempted to push higher yesterday, topped at 94.77 but closed below key resistance level 94.60. Only consistent move above that area should be seen as bearish scenario failure. Immediate support is see at 93.50. Break below that area should trigger further bearish momentum. CCI in neutral area both on h4 and daily chart.

USDCHF Daily Forecast

The USDCHF had a significant bearish momentum yesterday. The pair was able to stay below 1.0750 and on daily chart below we can see that the price is now ready to challenge the trendline support. Break below that trendline support should set up a bearish view towards 1.0400 area. Immediate resistance at 1.0750. Break above that area should take us back into no trading zone.

EURJPY Forecast
The EURJPY attempted to push higher yesterday, topped at 134.72 but closed lower at 133.99. The bearish outlook in medium term was over but the bullish scenario is not confirm yet until we have breakout on trendline resistance (see h4 chart below). At this phase, expect a trading range between 131.50 – 134.80 area. Immediate support is seen at 133.50. Break below that area should trigger further bearish momentum re-testing 131.50. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.

GBPJPY Forecast
The GBPJPY had a bullish momentum yesterday, topped at 156.42 and closed at 155.83. The bullish momentum seem to be strong, but we need to be very careful at this phase. Yes, the medium term bearish view is over now and I prefer a bullish scenario, but we better not to rush to make conclusion about bullish view especially because we still have trendline resistance to be tested (see daily chart below). Immediate resistance at 156.42 (yesterday’s high). Break above that area should trigger further bullish momentum towards 157.90. Initial support at 154.50. Break below that area should trigger further bearish momentum back towards 153.00.

AUDUSD Forecast
The AUDUSD had a significant bullish momentum yesterday, topped at 0.8177 and closed at 0.8155. On daily chart below we can see that the trendline resistance has been violated to the upside indicating a potential bullish view. The bias is bullish in nearest term targeting 0.8261. However CCI in overbought area and heading down on h4 chart so watch out for potential downside rebound testing 0.8100 support area. Break below that area should take us into no trading zone.

Labels: forex, Forex Analysis, forex signal, FX Instructor, Market Analysis, Market Trend, money trading, Moving Average