On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD attempted to push higher yesterday, hit the top at 1.4050 but further upside pressure was rejected. On h4 chart below we can see that the price attempted to break above the trendline resistance but failed. The bias is bearish in nearest term testing 1.3750 area but remains neutral and no clear direction in medium term. Only a clear break below 1.3750 could confirmed the bearish scenario. Immediate resistance at 1.4050.

GBPUSD Daily Forecast

The GBPUSD had a bearish momentum yesterday. The pair bottomed at 1.6115 and closed at 1.6138. Since the trendline support violated to the downside ( see the chart below) I prefer downside scenario for this week. The bias is bearish in nearest term but we have important support around 1.6100. Clear break below that area should trigger further bearish momentum towards 1.5950 area. Immediate resistance at 1.6180. Break above that area should lead us back into no trading zone.

USDJPY Daily Forecast

The USDJPY had a moderate bearish momentum yesterday. The pair bottomed at 94.70 and closed at 94.88. The bias is bearish in nearest term but we seem to have good support around 94.60 area. Break below that area should trigger further bearish pressure towards 93.80. Immediate resistance at 95.00/50 area.

USDCHF Daily Forecast

The USDCHF had a moderate bullish momentum yesterday. On h4 chart below we can see that the pair is moving inside the triangle area indicating consolidation phase. Break from the triangle should give us clearer direction. Immediate resistance at 1.0970. Break above that area should trigger further bullish momentum. Initial support at 1.0820. CCI about to cross the 100 line up on daily chart suggesting potential upside pressure.

EURJPY Forecast
The EURJPY continued it’s bearish scenario yesterday. On h4 chart below we can see that the price failed to make consistent move above the trendline then fell below the trendline indicating bullish failure. The bias is bearish in nearest term but we seem to have good support area around 131.50. Break below that area should trigger further bearish momentum towards 130.15. Immediate resistance at 132.50. Break above that area should lead us into no trading zone.

GBPJPY Forecast
The GBPJPY continued it’s bearish scenario yesterday. On h4 chart below we can see that the pair has break below important support 153.00. The bias is bearish in nearest term targeting 151.00. Immediate resistance at 153.00. Break above that area should lead us into no trading zone.

AUDUSD Forecast
The AUDUSD was traded lower yesterday. On h4 chart below we can see that the pair failed to maintain it’s bullish momentum then breakdown from the triangle indicating potential bearish view. The bias is bearish in nearest term but we seem to have good support around 0.7850 area. Break below that area should trigger further bearish momentum testing 0.7710 key level. Immediate resistance at 0.7925. Break above that area should lead us back into no trading zone.

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