On-Line Forex Trading Tips

EURUSD Daily Forecast

The EURUSD had a moderate bearish momentum yesterday. The pair attempted to push lower, bottomed at 1.3831 but the bearish pressure seemed limited as the pair closed higher at 1.3873. We still have no significant movement and medium term direction remains unclear and bearish scenario is not confirmed yet until we have a clear break below 1.3750 key support level. The bias is neutral in nearest term. CCI in oversold area and heading up on h4 suggesting potential upside pressure testing 1.3940 and 1.4050 resistance area.

GBPUSD Daily Forecast

The GBPUSD also had a moderate bearish momentum yesterday. The pair break below 1.6100, bottomed at 1.5982 but closed higher at 1.6053. The bias is neutral in nearest term but as long as the pair stay below 1.6100 I still prefer a downside scenario testing 1.5800 area. Immediate support at 1.5950. Break below that area should trigger further bearish momentum. CCI in oversold area and about to cross the -100 line up on h4 chart suggesting a potential upside rebound. Break above 1.6100 should lead us into no trading zone.

USDJPY Daily Forecast

The USDJPY had a big bearish movement yesterday. The pair moved more than 300 pips, bottomed at 91.79 and closed at 92.70. On h4 below we can see that after break below 94.60 we had a strong downside momentum. The bias remains bearish in nearest term testing 90.90 area. However CCI just cross the -100 line up on h1 chart so watch out for a potential upside rebound testing 93.25 resistance area. Break above that area should lead us into no trading zone.

USDCHF Daily Forecast

The USDCHF made indecisive movement yesterday. The pair attempted to push higher, topped at 1.0940 but closed lower at 1.0904. On h4 chart below we can see that the pair still trapped in triangle area. The bias is neutral in nearest term. Break from the triangle should give us clearer direction. Immediate resistance is seen at 1.0940 (yesterday’s high). Break above that area should trigger further bullish momentum. Initial support at 1.0820. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.

EURJPY Forecast
The EURJPY had a big bearish movement yesterday. On h4 chart below we can see that after break below 131.50 support area, we have a big bearish momentum, bottomed at 127.00 and closed at 128.61. The bias remains bearish in nearest term testing 126.25. Immediate resistance is seen at 128.90 – 129.50 area. Break above that area should lead us into no trading zone.

GBPJPY Forecast
The GBPJPY had significant bearish momentum yesterday. The pair moved more than 600 pips, bottomed at 146.73 and closed at 148.79. On h4 chart below we can see that after the pair break below important support 153.00, the bearish pressure continue. This fact should lead us to further bearish scenario towards 145. 00 area. Immediate resistance is seen at 149.80. Break above that area should lead us into no trading zone.

AUDUSD Forecast
The AUDUSD continued it’s bearish momentum yesterday. The pair bottomed at 0.7721 but closed higher at 0.7795. The fact that further bearish momentum was rejected was not a surprise for me since we should have key support level around 0.7710 area. Technically I still prefer bearish scenario for today re-testing 0.7710 area. Break below that area should trigger further bearish scenario in medium term. Immediate resistance is seen at 0.7825. Break above that area should lead to further upside momentum.

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