On-Line Forex Trading Tips

EURUSD Forecast
The EURUSD continued its indecisive movement yesterday, made another Doji on daily chart. Overall bias remains bearish as generally price is making lower highs and lows on h4 chart but limited bearish pressure and ranging market could continue as we are entering holiday season. I still prefer a bearish major scenario but again, would need a clear break below the trend line support and 1.3060 key support area before testing 1.2968 – 1.2920. Expected range remains between 1.3200 – 1.3070/60 and need a clear break from either side to see clearer direction. Aggressive traders may long around 1.3070/60 or short around 1.3170 – 1.3200 with tight stop loss. Standing aside until we have a clear break or waiting until next year before jump into the market is not a bad idea too.

GBPUSD Forecast
The GBPUSD had a limited bullish momentum yesterday as the daily trend line support still did a good job preventing further bearish pressure. Another reason why the bearish momentum is limited so far is that we are entering holiday season and the end of the year where range market and consolidation condition usually take place. The bias is neutral in nearest term. Immediate resistance at 1.5470/80. Break above that area could trigger further bullish correction testing 1.5550/70 but overall we are still in strong bearish outlook. Initial support remains around 1.5350 – 1.5300. A clear break below that area could give us further validation to a bigger bearish scenario testing 1.5000 psychological level.

USDJPY Forecast
The USDJPY had a bearish momentum yesterday after broke below the trend line support as you can see on my h4 chart below. The bias remains bearish in nearest term testing 82.50/33 support area, but my medium outlook remains unclear/neutral. Immediate resistance at 83.56 (yesterday’s high). Break above that area could lead us to neutral zone in nearest term as direction would become unclear.

USDCHF Forecast
The USDCHF made a strong upside pullback yesterday, topped at 0.9664. I was anticipating some upside corrections, but not that high. However, price closed significantly lower at 0.9574 and now struggling again around 0.9550 indicates that the bearish pressure is still alive and kicking especially if price make another movement below 0.9550 with 0.9461 as the nearest target. Few days ago I said that 0.9550 – 0.9461 could be a good support until next year so we may still have range market and some bullish pullback, but my overall outlook remains to the downside.

EURJPY Forecast
The EURJPY continued its bearish bias yesterday, bottomed at 108.44 but closed higher at 108.95. The bias is neutral in nearest term. My intermediate bearish target at 108.33 is considered hit, but the major outlook remains to the downside. Tomorrow is Christmas day and we may have some upside pullback today as market could make consolidation move so I will stand aside for now and prepare to enjoy my holiday. On the downside, clear break below 108.33 could trigger further bearish outlook testing 107.30 support area. Immediate resistance at 109.50 followed by 110.10.

GBPJPY Forecast
The GBPJPY attempted to push lower yesterday, bottomed at 127.44 but closed higher at 128.20 in a volatile market. Price is now struggling around 128.00. The bias is neutral in nearest term, but we are still in the double top strong bearish scenario still targeting 127.00 – 126.50 especially if price make another movement below 128.00. Immediate resistance at 128.74 (yesterday’s high). Break above that area could trigger further upside pullback testing 129.33. Holiday season may create consolidation condition with limited momentum, so it’s a good idea to stand aside for now and enjoy your holiday.

AUDUSD Forecast
The AUDUSD continued its bullish bias yesterday, topped at 1.0065 and closed at 1.0036. The bias remains bullish in nearest term with 1.0090 – 1.0100 as the nearest target before re-testing all time high at 1.0182. Immediate support at 1.0000. Break below that area could lead us to neutral zone in nearest term testing 0.9950/00 but only a break below the trend line support (red) could be a threat the bullish scenario. Tomorrow is Christmas! Merry Christmas and better stop trading and enjoy your holiday people!

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD made another volatile but indecisive movement yesterday. Overall bias remains to the downside, but the trend line support still hold so far, preventing further downside pressure as you can see on my h4 chart below and we still need a consistent move below the trend line support and 1.3060 to continue the bearish scenario testing 1.2968 and 1.2920. A look at the weekly chart can easily reveal that market is actually indecisive now, make a small Doji and moving in a range area between 1.3200 – 1.3073. A clear break above 1.3200 could trigger further upside consolidation testing 1.3250 – 1.3300 area but overall outlook remains strongly bearish.

GBPUSD Forecast
The GBPUSD slipped below 1.5400 and the daily chart trend line support yesterday, hit 1.5352 but still unable to stay consistently below the trend line support so far and now back above 1.5400. Price is now in critical phase in longer term outlook where a clear move below the trend line support could lead us to a bigger bearish scenario. Immediate resistance at 1.5500. Break above that area could lead us to neutral zone in nearest term testing 1.5550 – 1.5600 but as long as price moves inside the bearish channel the major scenario remains bearish. Immediate support at 1.5350 – 1.5300 which is also the nearest bearish target. A clear break below that area could give us further validation to a bigger bearish scenario testing 1.5000 psychological level.

USDJPY Forecast
The USDJPY had a significant bearish momentum earlier today in Asian session, fell below the trend line support as you can see on my h4 chart below and hit 83.06 suggests a bearish view in nearest term testing 82.80/50 support area. However my medium outlook remains neutral for this pair and price still trapped in range area of 84.40 – 82.33. Immediate resistance at 83.56 (current high). Break above that area could lead us to neutral zone in nearest term as direction would become unclear.

USDCHF Forecast
The USDCHF continued its bearish momentum yesterday, break below the triple bottom formation at 0.9550 area. This fact opens the door for further strong bearish pressure at least targeting 0.9461 – 0.9400 in nearest term. Note that price already made three consecutive bearish candles on daily chart, so any upside pullback is normal but the main scenario remains strongly bearish. Another move above 0.9550 could lead us to neutral zone in nearest term testing 0.9600 but long position is not recommended.

EURJPY Forecast
The EURJPY was indecisive yesterday, but had a bearish momentum earlier today in Asian session hit 108.91. The bias is bearish in nearest term testing 108.33. Immediate resistance at 109.50. Break above that area could lead us to neutral zone in nearest term testing 110.00/50 resistance area but overall we are still in the rising wedge strong bearish scenario.

GBPJPY Forecast
The GBPJPY had a significant bearish momentum yesterday after made a strong break below 129.33, bottomed at 128.32 and hit 128.04 earlier today in Asian session. The bias is bearish in nearest term especially if price able to make another strong break below 128.00 targeting 127.00 – 126.50 this week. Immediate resistance at 128.74 (current high). Break above that area could lead us to neutral zone in nearest term testing 129.33 but overall we are still in strong bearish scenario.

AUDUSD Forecast
The AUDUSD continued its bullish momentum earlier today in Asian session, hit 1.0036. The rising wedge bearish reversal scenario has failed now and we could have a good probability for a bullish continuation targeting all time high at 1.0182. Nearest term bullish target is seen around 1.0090 area. On the downside, another move below 1.0000 could lead us to neutral zone in nearest term. I think we are in a critical phase now and things could be very tricky. After hit all time high at 1.0182, people are thinking about a big downside pullback but the facts now do not support that idea yet. While long term traders may still prefer a short position, intra-day traders must trade what they are seeing now, a strong bullish bias.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.3201 but whipsawed to the downside, bottomed at 1.3073, closed at 1.3090 and corrected a little bit higher hit 1.3142 earlier today in Asian session. Overall we are still in downside bias, but as you can see on my h4 chart below, the trend line support still hold so far. We need a clear break below the trend line support and 1.3060 support area to continue the bearish scenario targeting 1.2968 – 1.2920 this week. Immediate resistance at 1.3170 followed by 1.3250.

GBPUSD Forecast
The GBPUSD continued its bearish pressure yesterday, slipped below the triangle as you can see on my h4 chart below. The bias is bearish in nearest term testing 1.5400 support area, which could be an important support at this phase along with a trend line support on daily chart. Immediate resistance remains around 1.5580. Break above that area could trigger further upside pullback testing 1.5650 but overall the scenario remains to the downside.

USDJPY Forecast
The USDJPY was indecisive and didn’t make significant movement yesterday, made a Doji on daily chart. There are no changes in my daily technical view and I will keep stand aside for now. The bias is neutral both in nearest and medium term. Immediate support at the trend line support and 83.50. Clear break below that area could trigger further bearish pressure testing 83.10 and 82.80. Immediate resistance remains around 84.40 which need to be broken to the upside in order to see further bullish pressure testing 85.00/20 region.

USDCHF Forecast
The USDCHF continued its bearish pressure yesterday, bottomed at 0.9562 and closed at 0.9579. The bias remains bearish in nearest term especially if price able to make a clear break below 0.9550 support area (triple bottom) targeting 0.9461. Immediate resistance at 0.9600. Break above that area could lead us to neutral zone in nearest term, but may give us an early signal of potential bullish pullback based on the triple bottom formation testing 0.9700 region.

EURJPY Forecast
The EURJPY was volatile but indecisive yesterday. There are no changes in my daily technical outlook. The bias remains neutral in nearest term. Overall we are still in the rising wedge bearish scenario but would need a clear break below 109.50 to continue the bearish pressure targeting 108.33. Immediate resistance at 110.70 followed by 111.60/90.

GBPJPY Forecast
The GBPJPY attempted to push lower yesterday, slipped below 129.33 but unable to stay below that area so far. The bias is neutral in nearest term. Overall we are still in strong bearish scenario of the double top formation but need a clear break below 129.33 to continue the bearish pressure testing 127.00 – 126.50 this week. Immediate resistance at 130.27 followed by 130.84.

AUDUSD Forecast
The AUDUSD continued its bullish intra-day bias yesterday, but still moves below 1.0000/27 resistance, which need to be clearly broken to the upside to continue the bullish scenario testing 1.0070/90 in nearest term before re-testing all time high at 1.0182. Immediate support remains around 0.9900. Break below that area could trigger further bearish pressure testing the trend line support which would give the rising wedge bearish reversal scenario another chance.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD continued its bearish pressure yesterday, bottomed at 1.3093 and closed at 1.3116 but corrected higher earlier today in Asian session hit 1.3193. As you can see on daily chart below we have an important trend line support, which could be a good technical support for the Euro as we are entering Christmas season and the end of the year. The bias is neutral in nearest term, but a clear break above 1.3193 could trigger further bullish pullback testing 1.3250 resistance area. On the downside, break below 1.3116 (current low) would keep the bearish pressure remains strong targeting 1.3060 before testing 1.2968 – 1.2920 this week.

GBPUSD Forecast
The GBPUSD was volatile but indecisive yesterday. On h4 chart below we can see price is moving in a triangle formation indicates consolidation but as long as price moves inside the bearish channel overall we are still in a bearish outlook. The bias is neutral in nearest term. Immediate resistance at 1.5580. Break above that area could trigger further bullish pullback testing 1.5650 and the upper line of the triangle. On the downside, another strong movement below 1.5500 would keep the bearish scenario remains strong testing 1.5450 – 1.5400 before testing 1.5300 support area this week.

USDJPY Forecast
The USDJPY continued its bearish bias yesterday after failed to make a clear break above 84.40 key resistance area last week. On h4 chart below we can see price seems ready to test the trend line support (white) and 83.10 support area in nearest term. Overall we are still in range market. A clear break below the trend line support could trigger further bearish pressure testing 82.80/50. Immediate resistance at 84.11 followed by 84.40. Technically we still need a clear break above 84.40 to continue the bullish scenario testing 85.00/20.

USDCHF Forecast
The USDCHF had a bearish momentum yesterday, bottomed at 0.9630 and hit 0.9619 earlier today in Asian session. The bias is bearish in nearest term testing 0.9550. A clear break below that area would give us further bearish continuation validation at least testing 0.9461. Note that we are now entering Christmas season and the end of the year where ranging market is potential. Immediate resistance at 0.9733. Break above that area could trigger further bullish pullback testing 0.9800. CCI is moving up and down between 100 and -100 level on h4 chart suggests that this pair is not a good pair to be traded right now.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD was volatile but indecisive last week, but overall looks like the pressure is more to the downside as price is now traded below 1.3170 key support area after break below the rising wedge, testing 1.2968 – 1.2920 this week. Nearest term target is seen around 1.3100 – 1.3060. A movement back above 1.3170 could lead us to neutral zone in nearest term testing 1.3280 resistance area.

GBPUSD Forecast
The GBPUSD slipped below 1.5500 on Friday but so far still unable to stay consistently below that area. The bias remains bearish in nearest term especially if price able to break below 1.5475 testing 1.5400 before targeting 1.5300 this week. Immediate resistance at 1.5583. Break above that area could lead us to neutral zone in nearest term testing 1.5650 but as long as price moves inside the bearish channel we are still in strong bearish scenario.

USDJPY Forecast
The USDJPY was indecisive on Friday. There are no significant technical moves so far and my daily outlook remains the same for this pair. Overall bias remains to the upside, but still need a clear break above 84.40 to continue the bullish scenario targeting 85.00/20.On the downside, a clear break below 83.64 could trigger further bearish pressure testing 83.10 which would force me to wait a little longer before re-activate my bullish mode.

USDCHF Forecast
The USDCHF attempted to push lower on Friday, slipped below the minor bullish channel, bottomed at 0.9557 but whipsawed to the upside, topped at 0.9719 and closed at 0.9686 in a volatile market. Although the major outlook remains to the downside, looks like we may have a bottom at this phase with key support area at 0.9550 – 0.9461 which could be a good support in the end of the year. Immediate resistance at 0.9733. Break above that area could trigger further upside pullback testing 0.9800.

EURJPY Forecast
The EURJPY attempted to push higher on Friday, but whipsawed to the downside, bottomed at 110.39 and closed at 110.74 after found a good resistance around 111.91. This fact gives us further validation to the rising wedge bearish scenario testing 109.85 in nearest term. A clear break below that area could trigger further bearish pressure testing 108.33. Immediate resistance at 110.70/80. Break above that area could lead us to neutral zone in nearest term testing 111.60/90 resistance area.

GBPJPY Forecast
The GBPJPY continued its bearish momentum on Friday, fell below 130.84 strong support area. The bias remains bearish in nearest term targeting 129.33 as the double top bearish scenario has further bearish validation. On the upside, another move back above 130.84 could lead us to neutral zone in nearest term testing 132.00 which could lead us to a ranging market condition.

AUDUSD Forecast
The AUDUSD was volatile but indecisive on Friday. The bias is neutral in nearest term but still within the context of a rising wedge bearish scenario especially if price able to make a clear break below the trend line support as you can see on my h4 chart below targeting 0.9710. Immediate resistance at 0.9925 followed by 1.0000. Break above 1.0000 could be a serious threat to the bearish scenario.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD was volatile but indecisive yesterday, made another Doji on daily chart. The bias remains neutral in nearest term. Overall price still moves in range area of 1.3400 – 13200. On h4 chart below we can see the upper line of the bearish channel still hold so far. Price still making lower highs and lows since the first time it tested the upper line of the bearish channel. CCI in neutral area both in h4 and daily chart but still moves below the zero line. This facts indicate that overall the major bearish scenario remains intact but need a consistent move below 1.3200 – 1.3170 to continue the bearish scenario testing 1.3100 – 1.2920 support area. Immediate resistance at 1.3322 (yesterday’s high). Break above that area could trigger further bullish momentum re-testing 1.3400/38.

GBPUSD Forecast
The GBPUSD was volatile but indecisive yesterday. The upper line of the bearish channel still holds so far, keep the major bearish scenario intact. On h4 chart below we can see price still moves in a minor bullish channel (white) indicates that we are still in bullish correction phase. We need a break below the minor bullish channel and 1.5650 support area to continue the bearish scenario testing 1.5550 – 1.5500. The bias remains neutral in nearest term. Immediate resistance remains around 1.5850. Consistent move above that area could be a threat to the major bearish outlook testing 1.5900 and could be an early signal of bullish reversal scenario.

USDJPY Forecast
The USDJPY attempted to push lower yesterday, bottomed at 83.51 but closed higher at 83.81. The bias is neutral in nearest term. On h4 chart below we have a bullish flag formation indicates potential bullish scenario especially if price breaks above the flag and 84.40 key resistance area targeting 85.00/20. Immediate support remains at 83.40. Consistent move below that area would keep direction remains unclear.

USDCHF Forecast
The USDCHF continued it bearish pressure yesterday, but the lower line of the minor bullish channel still holds so far as you can see on my h1 chart below, keep the nearest term bullish scenario intact especially if price able to break above 0.9900 targeting 1.0000. On the other hand, a break below the bullish channel and 0.9800 could trigger further bearish momentum targeting 0.9756-25 support area.

EURJPY Forecast
The EURJPY failed to continue its bullish momentum yesterday, bottomed at 110.57 and closed at 110.99. The bias is neutral in nearest term. Although I still prefer a bullish scenario at this phase, we have a rising wedge formation as you can see on my h4 chart below as a warning of a potential bearish pullback especially if price break below the wedge testing 109.85 even lower. On the upside we still need a clear break above 111.91 to continue the bullish scenario testing 112.50/80. I will stand aside for now.

GBPJPY Forecast
The GBPJPY was corrected lower yesterday, slipped below 132.00 and now struggling around that area. The bias is neutral in nearest term. I still prefer a bullish scenario but would need a break above 133.00 to continue the bullish scenario targeting 134.20. On the downside, consistent move below 132.00 could trigger further bearish pressure testing 130.84 support area. I will stand aside for now.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9883 but closed a little bit lower at 0.9841. The bias is neutral in nearest term and I will keep stand aside for now. On h4 chart below we have an inverse “head and shoulders” formation which is a bullish pattern which could be a potential threat to my bearish reversal scenario especially if price breaks above 1.0000. On the downside we need a clear break below 0.9710 to cancel the bullish outlook and continue the bearish reversal scenario.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.3179 but further downside pressure was rejected, closed higher at 1.3248 and hit 1.3322 earlier today in Asian session. On h4 chart below we can see price still struggling around the upper line of the bearish channel. The bias is neutral in nearest term. Overall I think price still moves in range market between 1.3200 – 1.3400/38. Clear break above 1.3438 could be an early signal of a bullish reversal scenario. On the downside, immediate support at 1.3240. Clear break below that area could trigger further bearish pressure re-testing 1.3180/50 and keep the bearish scenario intact.

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.5667 but whipsawed to the upside and closed higher at 1.5793. On h4 chart below we can see price is now struggling around the upper line of the bearish channel indicates critical technical phase. A clear break above the bearish channel and consistent move above 1.5850 could be a threat to the major bearish scenario testing 1.5900. Break above 1.5900 would give further validation to the bearish failure and potential bullish reversal scenario. Immediate support at 1.5787 (current low). Break below area should keep the bearish scenario intact but only a clear break below 1.5650 could continue the major bearish scenario testing 1.5550 – 1.5500 region.

USDJPY Forecast
The USDJPY continued its bullish momentum yesterday, topped at 84.30 but corrected lower earlier today in Asian session, hit 83.65. The bias is neutral in nearest term. Expected range at 84.40 – 83.40. Break above 84.40 could trigger further bullish momentum testing 85.00/20 and give further validation to bullish reversal scenario. On the other hand, break below 83.40 could trigger further bearish pressure testing 82.87 and keep my medium outlook in a neutral bias.

USDCHF Forecast
The USDCHF didn’t make significant technical move yesterday. On h1 chart below we can see price still moves inside the minor bullish channel indicates the nearest bias remains to the upside especially if price able to move consistently above 0.9850/80, still targeting 1.0000 resistance area. On the other hand, a break below the minor bullish channel and 0.9800 support area could trigger further bearish pressure testing 0.9756 – 0.9725.

EURJPY Forecast
The EURJPY continued its bullish momentum yesterday, topped at 111.48 and closed at 111.42. The bias remains bullish in nearest term testing 111.91. Break above that area could trigger further bullish momentum testing 112.50/80 which would give further validation to the bullish scenario. Immediate support at 110.75/58. Break below that area could lead us to neutral zone in nearest term as direction would become unclear testing 109.85/55 support area.

GBPJPY Forecast
The GBPJPY had another strong bullish momentum yesterday, topped at 132.99 and closed at 132.88. The bias remains bullish in nearest term especially if price able to make another upside break above 133.00 testing 134.20 key resistance area. Immediate support at 132.00. break below that area could lead us to neutral zone in nearest term testing 130.84 support area. I prefer a bullish scenario at this phase and expecting some breaks to the upside.

AUDUSD Forecast
The AUDUSD failed to test 0.9710 yesterday and traded significantly higher earlier today in Asian session hit 0.9883. The bias is bullish in nearest term testing 0.9950 – 1.0000 but my bearish reversal scenario remains valid and only a clear break above 1.0000 could be a threat to my bearish outlook. Immediate support at 0.9800. Break below that area could trigger further bearish pressure testing 0.9710. I will keep stand aside for now.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.3400 but whipsawed to the downside, closed at 1.3248 and hit 1.3219 earlier today in Asian session. I have made some adjustment to my bearish channel. On h4 chart below we can see price slipped below the bullish channel (blue) indicates the bullish correction might be over now targeting 1.3180/50 in nearest term. Immediate resistance at 1.3280 (current high). Break above that area would keep the bullish correction scenario intact re-testing 1.3400/38 key resistance area and may create a range market between 1.3400 – 1.3200.

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.5821 but further upside pressure was limited and closed lower at 1.5754. The bias is neutral in nearest term. The major scenario remains bearish but we still have a little space for another upside correction attempt testing the upper line of the bearish channel as market remains volatile without consistent momentum. Another move above 1.5787 could trigger further bullish momentum testing 1.5850 area. On the downside, we need a clear break below 1.5650 support area to continue the bearish scenario targeting 1.5550 – 1.5500 this week.

USDJPY Forecast
The USDJPY failed to continue its bearish momentum yesterday, topped at 83.65 and hit 83.90 earlier today in Asian session after made a strong break above 82.87 as you can see on my h4 chart below. The bias is bullish in nearest term testing 84.40 but unless price makes a clear break above 84.40 my medium term outlook remains neutral. Immediate support at 83.47 (current low). Break below that area could lead us to neutral zone in nearest term as direction is unclear testing 82.87.

USDCHF Forecast
The USDCHF attempted to push lower yesterday, bottomed at 0.9756 but whipsawed to the upside and closed higher at 0.9878. On h4 chart below we can see price is moving in a wide bullish channel reflects a major bullish scenario but with potential big downside corrections. The bias is bullish in nearest term testing 1.0000. We need a clear break above 1.0000 to continue the bullish scenario targeting 1.0182. Immediate support at 0.9850. Break below that area could lead us to neutral zone in nearest term re-testing 0.9756.

EURJPY Forecast
The EURJPY had a bullish momentum yesterday after failed to break below 109.55, topped at 111.10 and closed at 110.60 in a volatile market. The bias is bullish in nearest term especially if price able to make a clear break above 111.19 targeting 111.91 area. Immediate support at 110.58 (current low). Break below that area could lead us to neutral zone both in nearest and medium term as direction is unclear and may create a range market between 109.55 – 111.19.

GBPJPY Forecast
The GBPJPY had a significant bullish momentum yesterday, topped at 131.77 and closed at 131.51, made a huge bullish candle on daily chart. The bias is bullish in nearest term especially if price able to make another strong break out above 132.00 targeting 133.00 and would be a serious threat to the major bearish outlook. Immediate support at 130.84. Break below that area would keep the major bearish scenario intact re-testing 129.33 strong support area.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9964 but whipsawed to the downside, closed lower at 0.9831 and hit 0.9779 earlier today in Asian session. On h4 chart below we can see price slipped below the bullish channel indicates potential bearish outlook as bullish correction phase could be over testing 0.9710. Immediate resistance at 0.9855. Break above that area could lead us to neutral zone in nearest term but as long as price moves below 1.0000 my bearish reversal scenario remains valid.