On-Line Forex Trading Tips

GBPUSD Daily Forecast

The GBPUSD continued it’s bullish momentum yesterday, topped at 1.6466 and closed at 1.6420. The bias is bullish in nearest term but we seem to have a good resistance around 1.6470 area. Break above that area should trigger further upside momentum towards 1.6550 before re-testing 1.6660 key resistance level. However, from medium term perspective, only a clear break above 1.6660 could be seen as bullish scenario conformation. CCI about to cross the 100 line down on h4 chart suggesting potential downside rebound testing 1.6380 and 1.6300 area.

EURUSD Daily Forecast

The EURUSD had a bullish momentum yesterday, topped at 1.4134 and closed at 1.4102. It’s too early for a bullish scenario view, but the 1.4050 resistance was convincingly broken for the first time since July 03, so we might have something here that could lead to more significant movement. As long as the pair able to stay above 1.4050, we can expect further upside momentum towards 1.4176 area before re-testing 1.4336 key resistance level. Failure to do so should take us back towards 1.3950 and 1.3850 area. CCI in overbought area and heading down on h4 chart suggesting potential downside pullback.

USDCHF Daily Forecast

The USDCHF had a bearish momentum yesterday. After made a false breakout from the triangle the pair now breakdown the triangle indicating a volatile market. The bias is bearish in nearest term but we need consistent move below 1.0750 in order to continue bearish scenario at least towards 1.0650. Immediate resistance at 1.0800 – 1.0850 area.

USDJPY Daily Forecast

The USDJPY continued it’s bullish correction yesterday, topped at 94.45 and closed at 94.23. The bias remains bullish testing key resistance 94.60. Clear break above that area should trigger further bullish pressure towards 95.50 and violation to the medium term bearish outlook. Immediate support at 93.70 followed by 93.00. CCI just cross the 100 line down on h1 chart suggesting potential downside pullback.

EURJPY Forecast
The EURJPY had a significant bullish momentum yesterday, topped at 133.38 and closed at 132.87. This fact is a violation to the bearish medium term indicated by the H&S formation. The bias remains bullish in nearest term testing 134.50. However CCI in overbought area and heading down on h4 chart so watch out for a potential downside pullback testing 131.50 support area (former resistance).

GBPJPY Forecast
The GBPJPY had a significant bullish movement yesterday, topped at 155.14 and closed at 154.72. On h4 below we can see that the double bottom formation around 127.00 gave us a valid bullish reversal signal. The bias is bullish in nearest term testing 156.50. However CCI in overbought area and heading down on h4 chart suggesting potential downside pullback testing 153.00 area.

AUDUSD Forecast
The AUDUSD continued it’s bullish momentum yesterday, topped at 0.8055 and closed at 0.8029. On h4 chart below we can see that the pair has been moving convincingly in bullish channel since failure to break below 0.7710 on Monday. The bias remains bullish in nearest term testing 0.8120/50 area. However CCI in overbought area and heading down on h4 chart so watch out for potential downside rebound testing 0.7950 support area.

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