On-Line Forex Trading Tips

EURUSD Forecast
The EURUSD had a moderate bullish momentum yesterday, topped at 1.3645 and closed at 1.3624. Overall we are still in strong bullish phase targeting 1.3700 – 1.3800 area this week especially if price make another breakout above 1.3645. As you can see on h4 chart below, CCI about to cross the 100 level indicates potential minor bearish correction testing 1.3550 – 1.3500 support area. In the last two weeks price bullish movement is characterized by breakout – consolidation – breakout patterns. So right now, with CCI start to show potential downside pullback re-testing zero level, we may be in another consolidation phase but short position is not recommended. Only a movement below 1.3500 and violation to the bullish channel could diminish the bullish outlook and trigger further bearish correction.

GBPUSD Forecast
The GBPUSD made another volatile but indecisive movement yesterday. The bias remains neutral in nearest term. We are still in strong bullish phase and I still prefer a bullish scenario but need a clear break above 1.5900 to continue the bullish scenario testing 1.6000. On the downside, key support level remains around 1.5728 and the lower line of the minor bullish channel (red). Break below that area could diminish the bullish outlook testing the lower line of the major bullish channel (white).

USDCHF Forecast
The USDCHF was indecisive yesterday, formed a Doji on daily chart. The bias is neutral in nearest term but still in the context of major strong bearish scenario targeting 0.9647 especially if break below 0.9730. I have made adjustment to the bearish channel. Immediate resistance at 0.9814 (yesterday’s high) and the upper line of the bearish channel. Break above that area could trigger further upside correction but as long as price stay below 0.9931 I think we are still in strong bearish phase.

USDJPY Forecast
The USDJPY didn’t make significant movement yesterday but still able to stay below 84.00 and made a lower low on daily chart indicates the rounding top bearish scenario remains intact targeting 82.87. Another pullback above 84.00 could lead us to neutral zone as direction would become unclear but only a break above 84.82 could cancel the rounding top bearish scenario. Fundamental focus still about the potential intervention by the Japanese government to stop further Yen appreciation.

EURJPY Forecast
The EURJPY didn’t make significant move yesterday. The bias is neutral in nearest term but still in a major strong bullish outlook as long as price keep moving inside the bullish channel targeting 114.73. CCI just cross the 100 line as you can see on my h4 chart below indicates potential downside correction testing 113.35 and the lower line of the bullish channel. A violation to the bullish channel could be a serious threat to the current strong bullish outlook testing 112.67 region.

GBPJPY Forecast
The GBPJPY made another volatile but indecisive movement yesterday. On h4 chart below we can see price still trapped between 23.6% – 50% Fibo retracement. The major scenario remains bullish re-testing 135.03 but the bias remains neutral in nearest term and we need a break from range area to see clearer direction. Aggressive traders may long around 131.70 (50% level ) or short around 133.55 (23.6% level) with tight stop loss.

AUDUSD Forecast
The AUDUSD bullish momentum was paused yesterday. The bias is neutral in nearest term but still in major strong bullish scenario targeting 0.9792 and 0.9849 especially if price able to make a strong breakout above 0.9728 today. CCI in neutral area on h4 chart indicates limited bullish momentum with potential bearish correction testing 0.9600 but I still prefer a bullish scenario at this phase.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
In my weekly summary on Saturday, I said that the EURUSD bullish momentum indicated and started by strong consecutive breakouts and we could see more breakouts. As you can see on my h4 chart below, yesterday we have another strong breakout with big bullish candle above 1.3500 after price bounced from the lower line of the bullish channel which provided good support. CCI also rejected to move below zero level indicates bullish momentum remains strong. This fact could continue the bullish momentum targeting 1.3700 in nearest term before testing 1.3800 – 1.3888 area. Immediate support at 1.3500. Break below that area could lead us to neutral zone in nearest term re-testing the lower line of the bullish channel but the major scenario remains strongly bullish.

GBPUSD Forecast
The GBPUSD was volatile but indecisive yesterday. The bias remains neutral in nearest term. The 1.5728 support level hold so far, keep the strong bullish outlook intact, testing 1.6000 especially if price able to break above 1.5900 resistance area. On the downside, only a clear break below 1.5728 and violation to the minor bullish channel (red) could diminish the bullish outlook testing the lower line of the major bullish channel (white).

USDJPY Forecast
The USDJPY slipped below 84.00 yesterday, bottomed at 83.69 and now still able to move below 84.00 indicates potential further bearish pressure targeting 82.87. Another consistent movement back above 84.00 could lead us to neutral zone as direction would become unclear but only a break above 84.82 could cancel the rounding top bearish scenario.

USDCHF Forecast
The USDCHF continued its bearish momentum yesterday, bottomed at 0.9736 and closed at 0.9761. This fact could trigger further bearish continuation targeting 0.9647 especially if price able to break below 0.9730 support area. On the upside, another pullback above 0.9778 could lead us to neutral area in nearest term but the main scenario remains strongly bearish.

EURJPY Forecast
The EURJPY attempted to push lower yesterday, but found support at the lower line of the bullish channel before whipsawed to the upside, topped at 114.01. The bias is bullish in nearest term targeting 114.73. Immediate support at 112.80 – 113.00 and the lower line of the bullish channel. Overall we are still in strong bullish phase and only a violation to the bullish channel could be a serious threat to the current bullish outlook.

GBPJPY Forecast
The GBPJPY was volatile but indecisive yesterday and overall still trapped between 23.6% – 50% Fibo retracement as you can see on my h4 chart below. The bias remains neutral in nearest term and need a clear break on either side to see clearer direction. I prefer a bullish scenario and expecting clear breakout above the 23’6% (133.55) testing 135.03. However, a clear breakdown below 50% level (131.70) could be a serious threat to my bullish outlook which started after the breakout above the falling wedge formation.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday after struggling around 0.9600, topped at 0.9685. The bias is bullish in nearest term targeting 0.9792 before testing 0.9849 especially if price able to make another breakout above 0.9685 today. Immediate support 0.9600. Break below that area could lead us back to neutral zone but the main scenario remains strongly bullish.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD bullish momentum was paused yesterday after failed to make a clear break above 1.3500 resistance area. The bias is neutral in nearest term as price is consolidating. The strong bullish outlook remains intact but need a clear break above 1.3500 to continue the bullish momentum testing 1.3700. On the downside, immediate support at 1.3400 and the lower line of the bullish channel. Break below that area could diminish the bullish outlook. As you can see on my h4 chart below, CCI maintain above zero level during the strong bullish momentum. A violation to the bullish channel followed by CCI movement below zero level could trigger significant bearish pressure testing 1.3310 support area. On the other hand, another rejection to move below zero level followed by a clear break above 1.3500 could continue the bullish scenario. My fundamental focus today will be on German Prelim CPI and US CB Consumer Confidence. Risk aversion/appetite sentiment likely to drive the movement during the release so good numbers could continue the upside pressure while bad numbers could trigger downside pullback.

GBPUSD Forecast
The GBPUSD slipped above 1.5841 yesterday but further bullish momentum was rejected and closed lower at 1.5808. The bias is neutral in nearest term but overall we are still in strong bullish phase indicated by two bullish channels as you can see on my h4 chart below. CCI in neutral area indicates limited bullish pressure so far as price is consolidating. Immediate support remains around 1.5728 followed the lower line of the minor bullish channel (red) and 1.5650. Break below that area could be a serious threat to the current bullish outlook testing the lower line of the major bullish channel (white). On the upside, initial resistance which is also potential technical bullish target is seen around 1.5900 followed by 1.6000. Fundamental focus today will be on UK Current Account and US CB Consumer Confidence. Risk aversion/appetite sentiment likely to drive the movement during the release so good numbers could continue the upside pressure while bad numbers could trigger downside pullback

USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term but after false breakout on Friday we have to assume that the rounding top bearish scenario remains intact especially if price able to break below 84.00 support area testing 82.87 region. However note that further Yen appreciation could trigger another intervention. I will keep stand aside from this pair. On the upside, break above 84.82 could cancel the bearish outlook and trigger further upside pressure testing 85.90 region.

USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. On h4 chart below we can see price slipped above the bearish channel but without a strong upside momentum so far. The bias is neutral in nearest term but still within a major bearish scenario. Immediate resistance remains around 0.9931. Break above that area could trigger further bullish momentum testing 1.0030/60 region. On the downside, we need a clear break below 0.9778 to end this consolidation and continue the major bearish scenario testing 0.9730 and 0.9647 region.

EURJPY Forecast
The EURJPY bullish momentum was paused yesterday. The bias is neutral in nearest but still within a major strong bullish scenario as price still move inside the bullish channel. Immediate support at the lower line of the bullish channel and 112.55 region. Break below that area could trigger further bearish pullback testing 111.50/60 area. On the upside, we need a clear break above 113.76 to continue the bullish scenario testing 114.73.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. On h4 chart below we can see price still struggling around the 23.6% level. We are now still in consolidation phase but the major scenario remains bullish after the falling wedge bullish scenario confirmed but still need a consistent move above 23.6% level (around 133.55) to continue the bullish scenario testing 135.03. On the downside, only a clear break below 131.70 could be a serious threat to the bullish outlook.

AUDUSD Forecast
The AUDUSD was indecisive yesterday. The major scenario remains strongly bullish but so far unable to stay above 0.9600 resistance area. The bias is neutral in nearest term. Immediate support at 0.9538. Break below that area could trigger further downside pullback testing 0.9467 but as long as price moves inside the bullish channel the major scenario remains bullish. On the upside, break above 0.9650 could trigger further bullish continuation testing 0.9715 before targeting 0.9849.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD continued its bullish momentum on Friday, topped at 1.3494 and closed at 1.3488 after break out above my minor bearish channel indicating potential further bullish scenario especially if price able to make another strong break out ab0ve 1.3500 targeting 1.3700. Note that 1.3500 could be an important and strong resistance area at this phase since it is the 50% Fibonacci retracement of 1.5140 – 1.1876 , so I think we need a clear break above that area to continue the bullish momentum. Another bearish pullback after testing 1.3500 area on Friday is normal and another minor bearish channel could be formed, but overall we are still in strong bullish bias unless price break below the major bullish channel (white). Immediate support at 1.3438 – 1.3400. Break below that area could trigger further bearish pullback testing 1.3310 support area but I still prefer a bullish scenario at this phase. Although there are many who maintain their negative outlook on global recovery progress which should create risk aversion and push the Euro down, price action shows that market still have positive bias after FOMC meeting and some good fundamental data lately. Trade the facts, not the opinions.

GBPUSD Forecast
As I had expected, the GBPUSD made strong bullish movement after break above 1.5728, topped at 1.5841 and closed at 1.5821. This fact opens the door for further bullish continuation targeting 1.6000 region especially if price make another strong break out above 1.5841. Immediate support at 1.5728 (former resistance). Break below that area could lead us to neutral zone in nearest term but overall we are still in strong bullish phase and I still prefer a bullish scenario for now.

USDJPY Forecast
The USDJPY was technically a mess on Friday. Price slipped above 84.82, topped at 85.38 but quickly whipsawed to the downside and closed lower at 84.20. The way I see it, there are some forces in the market trying to go against the Japanese government acts to weaken the Yen and this is a very tricky situation. I will stand aside for now. Technically speaking, the bias is bearish in nearest term especially if price able to break below 84.00 re-testing 82.87 region. On the upside we need a consistent move above 84.82 to continue the bullish momentum testing 85.90 region and keep the upside outlook intact.

USDCHF Forecast
The USDCHF attempted to push lower on Friday, bottomed at 0.9778 but the bearish momentum was limited as price closed higher at 0.9828 and keep moving higher around 0.9858 at the time I wrote this comment. The bias is neutral in nearest term but still within the context of a major bearish scenario testing at least 0.9730 support area. Immediate resistance remains at 0.9931. Break above that area and violation to the upside of the bearish channel could lead us to neutral medium outlook.

EURJPY Forecast
The EURJPY was volatile on Friday but overall still able to maintain its bullish bias. As long as price still move inside the bullish channel, we are still in strong bullish phase targeting 114.73 area. On the downside, immediate support at the lower line of the bullish channel and 112.55 region. Break below that area could be a serious threat to the current bullish outlook.

GBPJPY Forecast
The GBPJPY started to regain its bullish bias after found support around the 50% Fibo retracement of 128.54 – 135.03 and now struggling around the 23.6% level as you can see on my h4 below. The bias is neutral in nearest term but overall we are still in bullish phase especially if price able to move consistently above 23.6% level (around 133.55) re-testing 135.03 region. On the downside, only a clear break below 131.70 could be a serious threat to the bullish outlook.

AUDUSD Forecast
The AUDUSD continued its bullish bias on Friday, topped at 0.9613 but still unable to consistently move above 0.9600 so far. The bias remains bullish in nearest term but we need a consistent move above 0.9600 to continue the bullish pressure testing 0.9650 – 0.9715 region. Immediate support remains around 0.9467. Break below that area could trigger further bearish pullback but as long as price still move inside the bullish channel we are still in strong bullish phase.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD was corrected lower yesterday after bad Euro zone Flash Manufacturing and Services PMI numbers. The bias is neutral in nearest term. We haven’t seen significant bearish correction during the strong bullish momentum, so any bearish correction is normal and I don’t see potential technical bearish reversal scenario so far. On h4 chart below we can see price is moving in a minor bearish channel, (which is also can be seen as a bullish flag formation) indicating bearish consolidation but overall we are still in bullish phase but need a break out above the bearish channel to continue the bullish scenario testing 1.3500. Immediate support at 1.3250, which is the 23.6% Fibo retracement of 1.2644 – 1.3438. Fundamental focus today will be on German Ifo Business Climate and US Durable Goods Orders and New Home Sales. Trading in the weekend with some high impact data and technical consolidation could be very tricky so don’t rush jump into the market.

GBPUSD Forecast
The GBPUSD made another volatile but indecisive movement yesterday. The bias is neutral in nearest term but overall we are still in bullish phase. I have made adjustment to the minor bullish channel (red). Price has been moving in range area of 1.5728 – 1.5500 and need a break on either side to see clearer direction. I still prefer a bullish scenario and expect a clear breakout above 1.5728 testing 1.5800 before targeting 1.6000 in longer term view. Immediate support at 1.5585 and the lower line of the minor bullish channel. Break below that area could be a serious threat to the current bullish outlook testing 1.5500 and the lower line of the major bullish channel (white). Fundamental focus today will be on US Durable Goods Orders and New Home Sales. Risk aversion/appetite sentiment likely to stay and drive the movement for now.

USDJPY Forecast
The USDJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term. So far I have conflicting technical view, where violation to the trend line resistance indicates bullish reversal scenario but the rounding top formation indicates bearish scenario. We need a break above 84.82 to cancel the rounding top bearish scenario and continue the upside attempt testing 85.90. On the other hand, break below 84.00 could give further bearish confirmation testing 82.87.

USDCHF Forecast
The USDCHF was indecisive yesterday, made a Doji on daily chart indicating consolidation, which is normal after a strong bearish momentum. The bias is neutral in nearest term but still within a major bearish context. Immediate resistance remains around 0.9931 and the upper line of the bearish channel. Break above that area could diminish the bearish outlook and activate my wait and see mode but overall we are still in major bearish scenario with 0.9730 as nearest target.

EURJPY Forecast
The EURJPY was corrected lower yesterday, but found support around the lower line of the bullish channel as you can see on my h4 chart below and whipsawed to the upside, hit 113.74 earlier today in Asian session. This fact could trigger further bullish continuation testing 114.73 in medium term. Immediate support at 113.00. Break below that area could lead us to neutral zone in nearest term but overall we are still in strong bullish phase as long as price move inside the bullish channel.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, but had some bullish momentum earlier today in Asian market, hit 133.75 after rebounded from 50% Fibo retracement of 128.54 – 135.03 as you can see on my h4 chart below and now struggling around the 23.6% level. This fact could trigger further bullish continuation re-testing 135.03 in medium term especially if price able to stay consistently above the 26.3 % level around 133.60. Immediate support at 132.50.

AUDUSD Forecast
The AUDUSD was corrected lower yesterday, but found support around 0.9467 as you can see on my h4 chart below. The bias remains neutral in nearest term as price still consolidating in range area. The major scenario remains bullish but need a clear break above 0.9600 to continue the bullish pressure testing 0.9650 – 0.9715 region. On the downside, break below 0.9467 could diminish the bullish outlook, lead us to neutral medium bias but as long as price moves inside the bullish channel the main scenario remains bullish.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.3438 and closed at 1.3393 following a strong break out above the trend line resistance on Tuesday. The bias remains bullish in nearest term testing 1.3500 area before testing 1.3700. Immediate support at 1.3333 (former resistance). Break below that area could lead us to neutral zone in nearest term testing 1.3267 but overall we are still in strong bullish phase. Fundamental focus today will be on some Euro zone Flash Manufacturing and Services PMI data and US Unemployment Claims and Existing Home Sales. Risk aversion/appetite sentiment likely to keep driving the market so good numbers could trigger further bullish momentum while bad numbers could trigger some technical downside rebound.

GBPUSD Forecast
The Cable is the only major currency that fail to gain from broad Dollar weakness after FOMC meeting. On h1 chart below we can see price still able to move inside the minor bullish channel (red) indicates strong bullish view remains intact but we haven’t seen significant bullish momentum so far. The bias is neutral in nearest term and need a clear break above 1.5728 to continue the bullish scenario towards 1.5800 and 1.6000. Immediate support at the lower line of the minor bullish channel and 1.5625. Break below that area could trigger further bearish pullback testing 1.5586 but overall we are still in bullish phase. Fundamental focus today will be on UK BBA Mortgage Approvals and US Unemployment Claims and Existing Home Sales. Risk aversion/appetite sentiment likely to keep driving the market so good numbers could trigger further bullish momentum while bad numbers could trigger some technical downside rebound.

USDJPY Forecast
The USDJPY attempted to push lower yesterday after break below 84.82, but found support around the trend line resistance as you can see on my h4 chart below. A downside pullback testing the violated trend line often happen technically, but a movement back below the trend line could be a serious threat to the bullish scenario re-testing 82.87 as the rounding top bearish reversal scenario is now confirmed. However, like I said yesterday, any further Yen appreciation could trigger another intervention and this could be a psychological support. On the upside, another move back above 84.82 should keep the bullish scenario intact testing 85.90 region.

USDCHF Forecast
The USDCHF continued its bearish momentum yesterday, bottomed at 0.9837 after break below 0.9931 as you can see on my h4 chart below. The bias remains bearish in nearest term testing 0.9730. Immediate resistance at 0.9931. A movement back above that area could lead us to neutral zone as direction would become unclear in nearest term but as long as price move inside the bearish channel we are still in strong bearish scenario.

EURJPY Forecast
The EURJPY had a moderate bullish momentum yesterday. I was expecting more bullish momentum but the upside pressure still limited. The bias is neutral in nearest term but overall we are still in strong bullish phase especially if price able to break above 113.51 testing 114.73. Immediate support at 112.55. Break below that area could trigger further bearish pullback testing the lower line of the bullish channel.

GBPJPY Forecast
The GBPJPY attempted to make another bearish pullback yesterday, but found support around 50% Fibo retracement of 128.54 – 135.03 after bullish momentum triggered by the intervention lose some momentum. The bias is neutral in nearest term. I still prefer a bullish scenario but we need a movement above 133.50 to see further upside pressure. On the downside, consistent move below 131.70 and 50% Fibo retracement could trigger further bearish pressure testing 131.00 region but note that that any further Yen appreciation may trigger another intervention by the Japanese government.

AUDUSD Forecast
The AUDUSD was indecisive yesterday, formed a Doji on daily chart. The bias is neutral in nearest term but overall we are still in strong bullish phase especially if price able to break above 0.9600 testing 0.9650 – 0.9715 region. Immediate support at 0.9467. Break below that area will activate my wait and see mode but as long as price still move inside the bullish channel the major scenario remains bullish.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.3120 but closed lower at 1.3062 in a volatile but indecisive market. The bias is neutral in nearest term but as long as price move above the minor trend line support (white) we are still in strong bullish phase testing 1.3200 and the trend line resistance area. Immediate support at 1.3028 (yesterday’s low). Break below that area could trigger further bearish pullback towards 1.2930 region. On the upside we still need a clear break above 1.3120 to continue the bullish pressure. Fundamental focus will be on FOMC statement. An optimistic tone by The Fed could trigger risk appetite and push Euro higher while a pessimistic tone could trigger risk aversion sentiment and push Euro lower. Price likely to stay volatile ahead and during FOMC meeting.

GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday after break below my minor bullish channel, bottomed at 1.5536 and closed at 1.5548. The bias is bearish in nearest term especially if break below 1.5531 testing 1.5450 and the lower line of the major bullish channel. Note that as long as price move inside the major bullish channel, we are still in bullish phase but need a clear break above 1.5728 to continue the bullish scenario. Fundamental focus will be on FOMC statement. An optimistic tone by The Fed could trigger risk appetite and push Cable higher while a pessimistic tone could trigger risk aversion sentiment and push Cable lower. Price likely to stay volatile ahead and during FOMC meeting.

USDJPY Forecast
The USDJPY was indecisive yesterday, made another Doji on daily chart indicating consolidation. The bias is neutral in nearest term and so far we have no significant technical moves but I think we are still in a bullish phase especially if break above 85.90 with 87.00 as the nearest bullish target. On the downside immediate support remains around 84.82.

USDCHF Forecast
The USDCHF slipped below the bullish channel as you can see on my h4 chart below indicating potential end of the bullish correction phase and continuation of the major bearish scenario at least re-testing 0.9931 region. Immediate resistance at 1.0060. Break above that area could lead us to neutral zone in nearest term as direction would become unclear.

EURJPY Forecast
The EURJPY was indecisive yesterday. On h1 chart below we can see price is moving in a range area of 112.35 – 111.60 indicating consolidation. We need a break on either side to see clearer direction. I still prefer a bullish scenario at this phase and expect breakout to the upside testing 113.00/30 region. On the downside, break below 111.60 could trigger further bearish pullback testing 110.60 area.

GBPJPY Forecast
The GBPJPY had a bearish momentum yesterday but overall still move in my expected range area of 136.00 – 133.00. As long as price stay above 133.00, I believe the technical bias remains strongly bullish. However, break below 133.00 will lead us into neutral zone as direction would become unclear. Price likely to stay volatile in nearest term.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday, slipped above 0.9467 but still unable to consistently move above that area so far. The bias is neutral in nearest term but the main scenario remains strongly bullish with 0.9506 as the nearest bullish target. Immediate support remains around 0.9330. Break below that area could trigger further bearish pullback testing the lower line of the bullish channel.

Labels: Forex Analysis, forex signal, Forex Trend