On-Line Forex Trading Tips

GBPUSD Daily Forecast

The GBPUSD made indecisive movement yesterday, formed a Doji formation on daily chart. The pair attempted to push lower, bottomed at 1.6309 but further bearish scenario was rejected as the pair closed much higher at 1.6460. Surely we still have no clear direction so far, so keep stay away from the market. Immediate resistance at 1.6550 followed by 1.6660. Initial support at 1.6380 followed by 1.6309 (yesterday’s low).

EURUSD: Boring Market, An Opportunity to Practice Discipline and Patient

The EURUSD made another indecisive movement yesterday, formed another Doji on daily chart and moved in trading range of 1.4150 – 1.4270 since Tuesday. The broadening formation on h4 chart below suggest that the price might strike new higher highs and lower lows but without clear direction. I was hoping that the bullish run on Monday could trigger further significant bullish momentum so at least technically we have a clearer direction and a break from 7 weeks of trendless and difficult market , but we have nothing significant so far. In my opinion, there is nothing we can do in this situation but to wait for significant moves and clearer direction. Boring, but look on the bright side: a good and rare opportunity to practice our discipline and patient, two things that surely not less important that our technical and fundamental analysis ability. At this phase, keep watching these key levels: 1.4000 – 1.4336.

EURJPY Forecast
The EURJPY didn’t make significant movement yesterday. The pair attempted to push lower, bottomed at 132.07 but closed higher at 132.93. I still prefer a downside scenario but the pair must be able to make a clear break below 131.50 to confirm the bearish outlook. In nearest term, keep stay out from the market. Immediate support at 132.07 (yesterday’s low) followed by 131.50. Initial resistance at 133.50 followed by 134.50.

GBPJPY Forecast
The GBPJPY made indecisive movement yesterday, formed a Doji on daily chart. From a bigger point of view on daily chart below, we can see that the pair is in critical phase where the price is now testing the major trendline resistance. I still prefer a downside scenario but once the trendline violated to the upside, the pair should begin the bullish outlook. In nearest term, stay out from the market since we have no clear direction yet. Immediate support at 152.30. Initial resistance at 155.20.

AUDUSD Forecast
The AUDUSD made another indecisive movement yesterday. The broadening formation on h4 chart below suggest that the market might be volatile with higher highs and lower lows without clear direction, adding uncertainty. Keep stay out from the market while keep watching these key levels: 0.8050 and 0.8261. Expect a trading range between those area. A Breakout/breakdown from that ranging area should give us clearer direction.

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