On-Line Forex Trading Tips

EURUSD Forecast:
The EURUSD finally made a clear break above 1.3000 resistance yesterday, topped at 1.3106 but closed a little bit lower at 1.03075. This fact could trigger further upside pressure testing 1.3213/70 region before testing 1.3340. However, as you can see on my daily chart below, we have a trendline resistance which is located around 1.3120 that need to be broken to the upside before continue the bullish pressure. Immediate support at 1.3045/20 region. Break below that area could lead us into neutral zone in nearest term testing 1.2950/30 support area but overall we are still in strong upside phase and I still prefer buy on dips.

GBPUSD Forecast:
The GBPUSD made another indecisive movement yesterday. The bias remains neutral in nearest term but still within a strong bullish context. Immediate support at 1.5580 area. Consistent move below that area could trigger further downside pressure testing 1.5470 key support level but I still prefer to buy on dips as long as price move inside the bullish channel. On the upside, a clear break above 1.5685 resistance area could trigger further upside pressure targeting 1.5750/60 before testing 1.5815.

USDJPY Forecast:
The USDJPY had a significant bearish momentum after break below my trendline support and now seems ready to test 86.33/25 key support area. Break below that area could trigger further downside pressure testing 85.86 even 84.82 region. However, we know that 86.33/25 region could be a strong support at this phase. Not to mention that we also have a falling wedge formation as a bullish warning. A failure to break below 86.33/25 and a break above the falling wedge could trigger another upside pullback testing 87.00/50 resistance area, but the main scenario remains bearish.

USDCHF Forecast
The USDCHF had a significant bearish momentum after break below 1.0560/40 yesterday, slipped below 1.0399 and now struggling around that area. The bias is bearish in nearest term targeting 1.0320 before testing 1.0220 especially if price able to move consistently below 1.0399. immediate resistance at 1.0500. Break above that area could lead us into neutral zone but the main scenario remains bearish and I still prefer to short on rallies.

EURJPY Forecast
The EURJPY was indecisive yesterday but we had some bearish pressure earlier today in Asian session and price is now back below 113.50. The way I see it, it is a false breakout which potentially trigger a bearish pressure testing the trendline support (white) and 111.60/50 support area especially if price consistently move below 112.70/60 support area. However from a longer term perspective this fact lead us back into range and neutral area of 113.50 – 108.07.

GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday, back below the range area and keep moving lower earlier today in Asian session. We have a false breakout scenario here which usually trigger a bearish pressure testing 133.70 area even could push price lower testing 130.50 in longer term. Only another movement above 136.30 could potentially continue the bullish correction scenario.

AUDUSD Forecast
The AUDUSD had a moderate bullish momentum yesterday, topped at 0.9042 and closed at 0.9003. The main scenario remains bullish but as long as we have the rising wedge formation I will keep out from the market. The rising wedge formation is a bearish warning that I don’t want to ignore. Immediate resistance which also the nearest term bullish targets is seen at 0.9070 and 0.9135 area. On the downside, initial support remains at 0.8858.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast:
The EURUSD made another indecisive movement yesterday, formed another Doji on daily chart. Price still unable to consistently move above 1.3000 and we know that it is a very strong resistance, which could produce bullish exhaustion and downside consolidation unless price able to break above 1.3045 area, targeting 1.3120 before testing 1.3270 – 1.3340 region. The bias remains neutral in nearest term but overall we are still in bullish phase. Immediate support at 1.2900 – 1.2880 area. Break below that area could trigger further bearish momentum testing 1.2735 key support area.

GBPUSD Forecast:
The GBPUSD was indecisive yesterday, made a Doji on Daily chart, pause the bullish momentum. The bias is neutral in nearest term. Immediate support at 1.5470. Break below that area could trigger further downside pullback but as long as price move inside the bullish channel wee area still in strong bullish phase. On the upside potential bullish targets remains at 1.5685 and 1.5815 region.

USDJPY Forecast:
The USDJPY failed to continue its bullish correction yesterday. On h1 chart below we can see that price is now testing the trendline support indicating critical phase. Break below the trendline support could trigger further bearish pressure testing 86.82/33 region and could potentially end the upside correction. Immediate resistance at 88.23/11 area.

USDCHF Forecast
The USDCHF failed to continue its bullish correction yesterday but still able to move above 1.0560/40 support area so far. The bias is neutral in nearest term. Consistent move below 1.0560/40 and a break below the trendline support (red) could end the upside correction testing 1.0500 – 1.0480 before targeting 1.0399 key support area. On the upside, 1.0675 – 1.0750 remains the bullish correction nearest targets.

EURJPY Forecast
The EURJPY failed to continue its bullish momentum yesterday and slipped below 113.50 indicating potential bullish failure and a false breakout scenario. I will stand aside from this phase for now. Immediate support at 112.70/60 region. Break below that area could trigger further downside pressure testing 111.60/50 area. On the upside, 115.50 and 117.00 remains the nearest bullish targets.

GBPJPY Forecast
The GBPJPY attempted to push higher yesterday, topped at 137.55 but closed lower at 136.18. On h1 chart below we have a descending triangle formation indicating potential bearish in nearest term especially if price breakdown below the triangle targeting 135.50/15 region. On the other hand, breakout above the triangle could trigger further upside momentum re-testing 137.55 as bearish scenario fails.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday. The rising wedge formation bearish warning is now become more real, threat the bullish scenario especially if price able to move consistently below the formation and 0.8858 key support area at least testing 0.8770. Immediate resistance at 0.8980 area. Break above that area could trigger further upside pressure testing 0.9025/70 region.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast:
The EURUSD attempted to push higher yesterday, topped at 1.3045 but again, failed to consistently move above 1.3000 so far. The bias is neutral in nearest term but I believe we are still in strong upside phase unless price break below 1.2735 region. Immediate support at 1.2950 followed by 1.2880. On the upside, 1.3120 remains the nearest bullish target.

GBPUSD Forecast:
The GBPUSD continued its bullish momentum yesterday, topped at 1.5600 and closed at 1.5594. The bias remains bullish in nearest term targeting 1.5685. Break above that area could trigger further upside pressure testing 1.5815. Immediate support at 1.5470 (former resistance). Break below that area could lead us into neutral zone but overall we are still in upside phase.

USDJPY Forecast:
The USDJPY had a significant bullish momentum yesterday, break above my minor trendline resistance as you can see on my h1 chart below. The bias is bullish in nearest term targeting 88.23 area before testing 89.10. However note that the major scenario remains to the downside. Immediate support at 87.30 region. Break below that area could trigger further bearish pressure testing 86.82.

USDCHF Forecast
The USDCHF finally broke above the range area, topped at 1.0640 and closed at 1.0599. This bias is bullish in nearest term testing 1.0675 and 1.0750 area but note that the major trend remains bearish. Immediate support at 1.0560/40 region. Break below that area could lead us into neutral zone in nearest term testing 1.0500 area.

EURJPY Forecast
The EURJPY finally broke above the range area of 113.50 – 108.07 , topped at 114.41 and closed at 114.21. This fact change my medium mode into bullish outlook testing 115.50 before targeting 117.00 region. Another downside pullback below 113.50 would lead us into neutral and no trade zone but overall we are still in upside correction phase which begin from 107.50.

GBPJPY Forecast
The GBPJPY also made a breakout from the range area yesterday, topped at 137.21 and closed at 136.99. The bias is bullish in nearest term testing 138.18 – 139.38 before targeting 140.56 region. On the downside, immediate support at 136.30 (former resistance). Break below that area could lead us into neutral and no trade zone testing 135.30.

AUDUSD Forecast
The AUDUSD failed to continue its bullish momentum yesterday. Like I said, although the main scenario remains bullish, the bearish warning indicated by the rising wedge can not be ignored especially if price break below 0.8858 area testing 0.8740 even 0.8630 region. Immediate resistance at 0.9070. Break above that area could continue the bullish scenario testing 0.9140 and 0.9380 area. I will stay away from this pair for now.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast:
The EURUSD touched 1.3000 area yesterday but still unable to move consistently above that psychological/key level so far. On h4 chart below we can see that we may have a triple top formation around 1.3000. Consistent move above 1.3000 could trigger further bullish pressure testing 1.3120 even higher. On the other hand, break below 1.2735 confirms the triple top scenario and could be a serious threat to the current bullish outlook. Immediate support at 1.2950 (23.6% Fibo retracement of 1.2793 – 1.3005). Break below that area could trigger further bearish pullback testing 1.2875 (61.5% Fibo retracement of 1.2793 – 1.3005).

GBPUSD Forecast:
The GBPUSD slipped above 1.5470 resistance area indicating potential further upside pressure at least targeting 1.5573 (February 23 high) before testing 1.5685 region (February 18 high). Another move below 1.5470 could lead us into neutral zone in nearest term testing 1.5400 but overall we are still in strong bullish phase and I prefer buy the dips strategy at this phase.

EURJPY Forecast
The EURJPY was indecisive yesterday. Price so far unable to stay consistently above 113.50 area indicating limited upside pressure. Overall price still trapped in range area of 113.50 – 108.07. We need a consistent move above 113.50 to continue the bullish correction testing 115.50. Immediate support at 112.25 followed by 111.50/60 region.

GBPUSD Forecast:
The GBPUSD slipped above 1.5470 resistance area indicating potential further upside pressure at least targeting 1.5573 (February 23 high) before testing 1.5685 region (February 18 high). Another move below 1.5470 could lead us into neutral zone in nearest term testing 1.5400 but overall we are still in strong bullish phase and I prefer buy the dips strategy at this phase.

EURJPY Forecast
The EURJPY was indecisive yesterday. Price so far unable to stay consistently above 113.50 area indicating limited upside pressure. Overall price still trapped in range area of 113.50 – 108.07. We need a consistent move above 113.50 to continue the bullish correction testing 115.50. Immediate support at 112.25 followed by 111.50/60 region.

GBPJPY Forecast
The GBPJPY attempted to push higher yesterday, topped at 135.60 but closed lower at 134.64. Overall we are still in range area of 136.30 – 130.50 and I will keep stay away from this pair for now. On h1 chart below we have a descending triangle formation indicating potential downside pressure especially if price break below the triangle testing 133.70/20 support area. On the upside, we need a clear break above 136.30 resistance area to confirm the bullish scenario testing 139.38 region.

AUDUSD Forecast
The AUDUSD had a moderate bullish momentum yesterday. The main scenario remains bullish but the rising wedge bearish scenario warning is still there and we need price to violate the formation with strong momentum to continue the bullish scenario targeting 0.9140 before testing 0.9380 in longer term. On the downside, only a break below 0.8858 and the rising wedge formation could be considered as potential bullish failure.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast:
The EURUSD was indecisive on Friday. Price attempted to push lower, bottomed at 1.2794 but closed higher at 1.2914. On h4 chart below we can see that price is moving inside a triangle formation after failed to consistently move above 1.3000 and found support around 1.2735 indicating consolidation. Breakout above the triangle could trigger further upside pressure re-testing 1.3000 before targeting 1.3120. On the other hand, breakdown below the triangle could trigger further bearish pressure testing 1.2735 region. Overall we are still in bullish phase.

GBPUSD Forecast:
The GBPUSD continue its bullish momentum on Friday, topped at 1.5448 and closed at 1.5420. The bias is bullish in nearest term especially if price able to move consistently above 1.5470 area targeting 1.5573 (February 23 high) before testing 1.5685 region (February 18 high). Immediate support at 1.5400 – 1.5380. Break below that area could lead us into no trading zone in nearest term testing 1.5280/50 support area.

USDJPY Forecast:
The USDJPY had a significant bullish pullback on Friday, break above the minor bearish channel indicating potential further upside pullback in nearest term testing 88.23. Consistent move above that area could trigger further upside recovery testing 89.10. On the downside, immediate support at 87.00. Break below that area could trigger further bearish pressure testing 85.86 area. Overall we are still in major bearish scenario.

USDCHF Forecast
The USDCHF had a bullish momentum on Friday, topped at 1.0562 and closed at 1.0534. The bearish pressure seems to losing some momentum as price is ready to test the major bearish channel. Violation to the bearish channel could be a serious treat to the major bearish outlook. Immediate resistance at 1.0650/70. Break above that area could trigger further upside pressure testing 1.0750. Initial support at 1.0399. Break below that area should keep the major bearish scenario intact testing 1.0320 and 1.0220 region.

EURJPY Forecast
The EURJPY continued its upside pressure on Friday. On daily chart below we can see price is now testing 113.50 key resistance which is the upper line of my range area. A consistent move above that area could trigger further upside pressure targeting 115.50 before testing 117.00. Immediate support at 112.50. Break below that area could trigger further downside pressure and lead us back into range and no trading zone.

GBPJPY Forecast
The GBPJPY had a significant bullish momentum on Friday after breakout above my minor trendline resistance as you can see on my h4 chart below. The bias is bullish in nearest term testing 136.30 but note that overall we are still consolidating between 136.30 – 130.50. We need a clear break above 136.30 to take us into a new bullish phase at least testing 139.38 area. Immediate support at 134.50/00 region.

AUDUSD Forecast
The AUDUSD had a limited bullish momentum on Friday. The bias is neutral in nearest term but overall we are still in strong bullish phase targeting 0.9076. The tricky thing is that we have a rising wedge formation which is a bearish formation especially if price break below the formation and 0.8858 support area.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD didn’t make significant movement yesterday. The bias is neutral in nearest term but we are still in upside correction scenario testing 1.2850 – 1.2900 area. Immediate support at 1.2650. Break below that area could trigger further bearish pressure testing the minor trendline support (red) and 1.2550 area but as long as price move inside the bullish channel we are still in upside correction phase.

GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday, topped at 1.5295 and closed at 1.5264. The bias remains bullish in nearest term testing 1.5400 region. However CCI about to cross the 100 line down on h4 chart so watch out for potential downside pullback testing 1.5200 – 1.5150 support area. Overall we are still in strong upside correction phase after the failure to consistently move below 1.5000 support area and only a movement back below 1.5000 could diminish the upside scenario.

USDJPY Forecast
The USDJPY attempted to push lower yesterday, but still unable to break below 88.00 area. The bias remains neutral in nearest term. The major trend remains bearish but need a consistent move below 88.00 to continue the bearish pressure at least testing 87.00. On the upside, we need a clear break above 89.15/50 area to continue bullish correction testing 90.50.

USDCHF Forecast
The USDCHF attempted to push higher yesterday, topped at 1.0617 but whipsawed to the downside and closed lower at 1.0524. This fact could trigger further bearish pressure testing 1.0500 – 1.0480 support area today. Break below that area could resume the major bearish scenario targeting 1.0400 and 1.0220 region. Immediate resistance at 1.0550 followed by 1.0617.

EURJPY Forecast
The EURJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but we are still in upside correction phase as long as price move inside the bullish channel with 113.50 remains the nearest target before testing 115.50 area. Immediate support at 111.50 and the lower line of the bullish channel. Break below that area could be a serious threat to the upside scenario.

GBPJPY Forecast
The GBPJPY attempted to push higher yesterday, topped at 135.79 but closed lower at 134.90. The bias remains neutral medium term but potentially remains to the upside in nearest term as price is now moving inside a minor bullish channel as you can see on h4 chart below testing 136.30 key resistance area. Immediate support at 134.10 followed by 133.15 area. Break below 133.15 could trigger further bearish pressure testing 130.50 region.

AUDUSD Forecast
The AUDUSD slipped above 0.8858 yesterday but still unable to move consistently above that area. The bias remains bullish in nearest term but we need a consistent move above 0.8858 to continue the bullish scenario testing 0.8970 and 0.9025 area. Immediate support at 0.8700 – 0.8660 area.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD had a significant bullish momentum yesterday after bad US trade balance number, topped at 1.2737 and closed at 1.2722. The rising wedge formation has failed indicating potential technical bullishness targeting 1.2850 – 1.2900 area. Immediate support at 1.2650 (former resistance). Break below that area would lead us into neutral zone. Although technical study is bullish, I think this bullish run is tricky and fragile from fundamental point of view since yesterday we had bad Euro zone ZEW economic sentiment number, keep the Euro zone in negative territory.

GBPUSD Forecast
The GBPUSD had a significant bullish momentum yesterday after good UK CPI and bad US trade balance data, topped at 1.5191 and keep moving higher around 1.5210 at the time I wrote this comment. The bias is bullish in nearest term especially if price able to move consistently above 1.5238 targeting 1.5400 – 1.5500 region. Immediate support at 1.5100 – 1.5080. Break below that area would lead us into neutral zone as direction is unclear testing 1.5000 – 1.4950 support area.

USDJPY Forecast
The USDJPY slipped below 88.23 yesterday, but whipsawed to the upside and closed higher at 88.71. This fact should keep the bullish correction scenario intact with nearest target remains at 89.50 and 90.50 but note that the major trend remains bearish. On the downside, we need a consistent move below 88.23/00 region to cancel this bullish scenario targeting 87.00.

USDCHF Forecast
The USDCHF had a moderate bearish momentum yesterday, bottomed at 1.0512 and closed at 1.0545. The bias is neutral in nearest term. The main scenario remains to the downside but as long as price stay above 1.0500 – 1.0480 area the upside correction scenario remains intact. Immediate resistance at 1.0585. Consistent move above that area could trigger further bullish pressure towards 1.0650 before testing 1.0750. On the downside, break below 1.0480 could end the upside correction targeting 1.0400 and 1.0220 region.

EURJPY Forecast
The EURJPY attempted to push lower yesterday, slipped below the bullish channel and 110.85 support area but whipsawed to the upside, break above the minor bearish channel, topped at 112.92 and closed at 112.87. The bias is bullish in nearest term targeting 113.50 and 114.40 area. Immediate support at 112.20. Break below that area could lead us into no trading zone but overall we are still in upside correction phase as long as price move inside the bullish channel.

GBPJPY Forecast
The GBPJPY was bullish yesterday after break above 134.00 and keep moving higher around 135.10 at the time I wrote this comment earlier today in Asian session. The bias is bullish in nearest term testing 136.30 region but overall price still trapped in range area. Immediate support at 134.00. Break below that area could lead us into neutral zone both in nearest and medium outlook.

AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 0.8682 but whipsawed to the upside, closed at 0.8829. The bias is bullish in nearest term testing 0.8858 resistance area. We need a consistent move above that area to continue the bullish scenario testing 0.8970 – 0.9025 area. Immediate support at 0.8790/60. Break below that area could lead us into neutral zone in nearest term but the main scenario remains to the upside.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD continued its bearish pressure yesterday, bottomed at 1.2550 but closed higher at 1.2596. The bias is neutral in nearest term but the potential downside scenario by the rising wedge formation remains intact especially if price able to move consistently below 1.2550 today targeting 1.2465/80 support area. On the upside, consistent move above 1.2650 resistance area could be a serious threat to the bearish scenario testing 1.2720/50 region.

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.4948 but closed significantly higher above 1.5000 area. The bias is neutral in nearest term but overall the bullish correction phase remains intact as downside pressure seems limited so far. I will pay attention to 1.5080 – 1.5100 resistance area today. Consistent move above that area could trigger further bullish pressure re-testing 1.5227. On the downside, another move below 1.5000 could trigger further bearish attempt testing 1.4900 – 1.4800 area.

USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term but we are still in upside correction phase and only a movement back below 88.23 could be a serious threat to the upside correction scenario and resume the major bearish trend testing 87.00. Immediate resistance (which is also nearest bullish target) is seen at 89.50 followed by 90.50.

USDCHF Forecast
The USDCHF continued its upside correction yesterday, topped at 1.0675 but closed lower at 1.0603. The bias is neutral in nearest term but we are still in upside correction phase testing 1.0750 area. Immediate support at 1.0550. Consistent move below that area could be a serious threat to the upside correction scenario testing 1.0479 and 1.0400 area before testing 1.0220 in longer term.

EURJPY Forecast
The EURJPY was corrected lower yesterday but so far still move inside the bullish channel indicating the upside correction scenario remains intact especially if price break above the minor bearish channel (red) testing 113.50 area. Immediate support at 111.50. Consistent move below that area could trigger further bearish pressure testing 110.85 and the lower line of the bullish channel.

GBPJPY Forecast
The GBPJPY still move inside range area of 136.30 – 130.50 as you can see on h4 chart below. The bias remains unclear in nearest term as price is still in consolidation phase but the major trend remains bearish. Immediate support at 133.00. Consistent move below that area could trigger further bearish pressure towards 131.80 before testing 130.50. Initial resistance at 134.00 region. Consistent move above that area could trigger further upside pressure towards 135.20 before testing 136.30.

AUDUSD Forecast
The AUDUSD made another indecisive movement yesterday with no significant technical momentum. The bias remains neutral but overall we are still in bullish phase with 0.8858 as nearest upside target. Immediate support at 0.8725. Consistent move below that area could trigger further bearish pressure testing 0.8680/50 region before testing 0.8550.

Labels: Forex Analysis, forex signal, Forex Trend