On-Line Forex Trading Tips

EURUSD Forecast

The EURUSD attempted to push higher on Friday, topped at 1.4252 but further upside momentum seemed limited as the pair closed a little bit lower at 1.4200. The broadening formation should keep us stay away from the market but a clear breakout above 1.4250/70 area could trigger further bullish momentum re-testing key level 1.4336. Immediate support at 1.4150. Break below that area should trigger further downside pressure towards 1.4050. CCI in neutral area on h4 chart.

GBPUSD Forecast

The GBPUSD had a moderate bearish momentum on Friday. On h4 chart below we have a rising wedge formation suggests a potential further downside momentum especially if the rising wedge violated to the downside. The bias is bearish in nearest term but remains unclear in medium term. Immediate support at 1.6380. Clear break below that area should trigger further bearish pressure testing 1.6290 area. Initial resistance at 1.6505 followed by 1.6590. CCI in neutral area on h4 chart.

USDJPY Forecast

The USDJPY bullish momentum was paused on Friday. The bias is neutral both on nearest and medium term. On h1 chart below we have a descending triangle formation indicating a potential downside pullback scenario especially if break below 94.60. Immediate resistance at 95.30. Break above that area should trigger further upside momentum towards 96.10 area. CCI in neutral area on daily chart.

USDCHF Forecast

The USDCHF attempted to push lower on Friday, bottomed at 1.0671 but the bearish pressure was limited as the pair closed a little bit higher at 1.0716. On h1 chart below we have triangle formation indicating consolidation. Break from the triangle should give us a clearer direction. Immediate resistance at 1.0750 – 1.0800 area. Clear break above that area should trigger further bullish momentum testing 1.0900.

EURJPY Forecast
The EURJPY made indecisive movement on Friday formed a Doji on daily chart. On h4 chart below we can see that the price is struggling around trendline area. We also have triangle formation indicating consolidation. A breakout from the triangle should trigger further bullish momentum and set up a bullish outlook while a breakdown should be seen as potential bullish failure. Immediate support at 134.30 – 133.80 area. Break below that area should trigger further bearish momentum back towards 131.50. Initial resistance at 135.60. Break above that area should trigger further bullish scenario testing 136.80.

GBPJPY Forecast
The GBPJPY failed to continue it’s bullish momentum on Friday. Like I said on Saturday, the pair is now in critical technical point. If the pair able to stay above the trendline we should have a bullish outlook. If not, we should pay attention to the trendline support on h4 chart below. A Breakdown below that trendline support should be seen as bullish failure and set up a bearish outlook. Immediate resistance at 156.40. Break above that area should trigger further bullish momentum towards 157.59 area. Initial support at 154.95 followed by 153.90.

AUDUSD Forecast
The AUDUSD had a moderate bullish momentum on Friday. Surely we are still in no trading zone. On daily chart below we can see that the pair has been consolidating between 0.8261 – 0.7700 area after a bullish run from 0.6283 on March. Only clear break above 0.8261 should be seen at potential bullish continuation. Immediate support at 0.8100 followed by 1.8050.

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