On-Line Forex Trading Tips

EURUSD Forecast
The EURUSD had a bullish momentum yesterday, topped at 1.3950 and closed at 1.3943 but traded lower around 1.3890 at the time I wrote this comment. On h1 chart below we can see price is moving inside a minor bullish channel but the bullish channel is now being tested to the downside. We know that price is still consolidating without clear direction in the last three weeks with inconsistent momentum. A break below the minor bullish channel and a consistent move back below 1.3890 could trigger further bearish movement testing1.3800. On the upside, we need a clear break above 1.3950 to continue the bullish momentum testing 1.4028 and the upper line of the major bearish channel.

GBPUSD Forecast
The GBPUSD had a significant bullish momentum yesterday, topped at 1.5977 and closed at 1.5961. The bias is bullish in nearest term but I think we need a clear break above 1.6000 area to continue the bullish momentum re-testing 1.6105. Immediate support at 1.5900. Clear break below that area could trigger further bearish pullback testing 1.5800 support area. Overall we are still in a bullish major scenario as price is still moving inside the major bullish channel

USDJPY Forecast
The USDJPY had a bearish momentum yesterday, bottomed at 80.86 and hit 80.53 at the time I wrote this comment after failed to make a clear break above 81.95 as you can see on my h4 chart below. The bias is bearish in nearest term especially if break below 80.40 testing 80.00 and 79.70 area. On the upside, another move above 81.07 (current high) could lead us back to neutral zone and range condition with 81.95 as key resistance area.

USDCHF Forecast
The USDCHF was corrected lower yesterday, found support at 0.9800 area and traded higher around 0.9863 at the time I wrote this comment. The bias is neutral in nearest term. Overall we are still in bullish phase especially if price able to make another break above 0.9877 targeting 0.9928 and 1.0000. On the downside, clear break below 0.9800 could trigger further bearish pressure testing 0.9730 and the lower line of the bullish channel but as long as price moves in the bullish channel I still prefer a bullish scenario.

EURJPY Forecast
The EURJPY continued its bearish momentum today, hit 111.89 at the time I wrote this comment. The bias is bearish in nearest term testing 111.60. Clear break below that area could trigger further bearish pressure targeting 110.65 – 110.00. Immediate resistance at 112.97 (current high). Break above that area could trigger further upside momentum testing the upper line of the bearish channel but only a violation to the bearish channel could be a threat to the current bearish outlook testing 113.75 and 114.65.

GBPJPY Forecast
The GBPJPY had a significant bearish movement today, slipped below the minor bullish channel as you can see on my h4 chart below indicates potential bearish pressure testing 127.62 before testing 126.43. Immediate resistance at 129.29 (current high). Break above that area could trigger further upside momentum testing 129.82 and the upper line of the bearish channel.

AUDUSD Forecast
The AUDUSD is in critical phase now, a consolidation to find a clear direction. On h4 chart below we can see price still struggling around the lower line of the bullish channel. Immediate support at 0.9700. Break below that area could trigger further bearish pressure testing 0.9650/00 area and could be a threat to the bullish outlook as a bearish reversal scenario could be produced. On the upside, a clear break above 0.9793 could keep the bullish scenario intact testing 0.9917 – 1.0000 key resistance area.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD attempted to push lower yesterday, bottomed at 1.3733 but closed higher at 1.3794 and traded around 1.3810 earlier today in Asian session at the time I wrote this comment. Overall the bearish bias remains intact but no convincing and consistent bearish momentum so far. The bias is bullish in nearest term testing 1.3880/90 area. I still prefer a bearish scenario, but a break above 1.3880/90 could trigger further upside momentum testing 1.3980 – 1.4000. On the downside, immediate support at 1.3778 (current low). Break below that area could continue the bearish pressure testing 1.3700 before targeting 1.3600.

GBPUSD Forecast
The GBPUSD was unable to maintain its bullish momentum yesterday after good UK GDP data push the pair peaked at 1.5895 on Tuesday. Price violated the minor bullish channel to the downside, bottomed at 1.5729 but closed higher at 1.5789. The bias is neutral in nearest term. Immediate resistance at 1.5800. Consistent move above that area could trigger further upside momentum testing 1.5900 area before testing 1.6000. Initial support at 1.5700 – 1.5650 and the lower line of the major bullish channel. Only a violation to the major bullish channel could be a threat to the major bullish scenario as bearish reversal scenario could be produced.

USDJPY Forecast
The USDJPY attempted to push higher yesterday, but still unable to make a clear break above 81.95 so far, traded around 81.62 at the time I wrote this comment. The bias is neutral in nearest term and we are still in consolidation phase. We need a clear break above 81.95 to continue the bullish momentum testing 82.87. Immediate support at 81.50. Break below that area could trigger further bearish pressure testing 80.85/40 area.

USDCHF Forecast
The USDCHF attempted to push higher yesterday, topped at 0.9928 but closed lower at 0.9892. The bias is neutral in nearest term but overall we are still in bullish phase targeting 1.0000. Immediate support at 0.9877. Clear break below that area could trigger further bearish pullback testing 0.9800 – 0.9730 support area.

EURJPY Forecast
The EURJPY was volatile but indecisive yesterday. The bias is neutral in nearest term but as long as price moves inside the bearish channel the major scenario remains bearish and only a violation to the bearish channel could be a threat to the bearish scenario. Immediate resistance at 113.27 (yesterday’s high). Break above that area could be a threat to the current bearish outlook testing 113.75 – 114.65 area. Initial support at 112.21. Break below that area could trigger further bearish pressure testing 111.60 and 110.00 and keep the bearish scenario remains strong.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, made a Doji on daily chart. The bias is neutral in nearest term. As long as price moves inside the bearish channel the major bearish scenario remains intact but I think we are still in bullish correction phase after good UK GDP on Tuesday testing 129.82 and the upper line of the bearish channel. Immediate support at the lower line of the minor bullish channel (blue channel) and 128.25 area. Clear break below that area could trigger further bearish pressure testing 127.62 and 126.43 region.

AUDUSD Forecast
The AUDUSD slipped below the bullish channel yesterday, bottomed at 0.9651 but closed higher at 0.9738 and now struggling around the lower line of the bullish channel as you can see on my h4 chart below. The bullish scenario is in a serious threat here, but if price go back inside the bullish channel and consistently above 0.9775 we could have further upside momentum as yesterday’s strong bearish pressure could be just a temporary market reaction after bad CPI number and could produce a false breakdown scenario re-testing 1.0000. Immediate support at 0.9700. Break below that area could trigger further bearish pressure testing 0.9600 and may give us the validation of technical bearish reversal scenario.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD had a bearish momentum yesterday after failed to make a clear break above 1.3970, bottomed at 1.3825 and closed at 1.3845. This fact keeps the bearish bias since the fall from 1.4158 intact and the bias is bearish in nearest term testing 1.3700. I hope we will start to see consistent momentum and clearer direction from now. Break below 1.3700 could trigger further bearish pressure testing 1.3600 – 1.3500 region. Immediate resistance at 1.3878 (current high). Break above that area could trigger further bullish pressure testing 1.3980 – 1.4000 area and keep us in unclear direction and inconsistent momentum condition.

GBPUSD Forecast
The GBPUSD had a significant bullish momentum yesterday, topped at 1.5895 and closed at 1.5840 after a better than expected UK GDP number. On h1 chart below we can see price is moving in a new minor bullish channel indicates we could be in another bullish phase but the lower line of the minor bullish channel is now being tested to the downside. A break below the minor bullish channel and movement below 1.5800 could trigger further bearish pressure re-testing the lower line of the major bullish channel and 1.5700 support area. I think we need a clear break above 1.5895 to continue the bullish scenario targeting 1.6000.

USDJPY Forecast
The USDJPY had a significant bullish correction yesterday, topped at 81.64 and closed at 81.40. The bias is bullish in nearest term testing 81.95. Break above that area could trigger further upside recovery testing 82.87. Immediate support at 81.36 (current low). Break below that area could trigger further bearish pressure testing 80.85 – 80.40 and keep the major bearish scenario remains strong.

USDCHF Forecast
The USDCHF continued its bullish momentum yesterday, topped at 0.9881 and closed at 0.9845. The bias is bullish in nearest term especially if price make another break above 0.9881 targeting 1.0000. Immediate support at 0.9800 – 0.9750. Break below that area could trigger further bearish pullback testing the lower line of the bullish channel but as long as price move inside the bullish channel we are still in bullish phase.

EURJPY Forecast
The EURJPY attempted to push higher yesterday, topped at 113.27 but closed lower at 112.71. The bias is neutral in nearest term. The major bearish scenario remains intact as long as price move inside the bearish channel targeting 111.60 and 110.00 especially if able to move below 112.50 support area and only a violation to the bearish channel could threat the current bearish outlook testing 114.65 and 115.65.

GBPJPY Forecast
The GBPJPY had a significant bullish correction yesterday after a better than expected UK GDP number. The bias is bullish in nearest term testing 129.82 and the upper line of the bearish channel but as long as price move inside the bearish channel the major scenario remains bearish and any upside correction should be normal now. Immediate support at 128.91 (current low). Break below that area oould trigger further bearish pressure testing 127.62 area and keep the major bearish scenario remains strong.

AUDUSD Forecast
The AUDUSD had a significant bearish momentum earlier today in Asian session after a bad CPI number. On h4 chart below we can see price is now testing the lower line of the bullish channel. Break below the bullish channel could be a threat to the bullish scenario testing 0.9600. Immediate resistance at 0.9862 (current high). We need a break above that area to keep the bullish scenario remains intact and strong.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD made another inconsistent movement yesterday. Price topped at 1.4079 but whipsawed to the downside, bottomed at 1.3907 and closed at 1.3922. As you can see on my h4 chart below, price is now back inside the bearish channel after slipped above it. Overall the direction remains unclear and price is moving in 1.4158 – 1.3700 range area. While longer time frames show unclear direction, intra-day traders may benefit from shorter time frame like 30 minute – hourly chart. The bias is neutral in nearest term. Immediate resistance at 1.3970. Break above that area could trigger further short term upside pressure testing 1.4028/50 area. Immediate support at 1.3900. Break below that area could trigger further short term bearish pressure testing 1.3850 – 1.3800.

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.5771 but closed lower at 1.5708. This fact indicates that although the major bullish scenario remains intact as price still move inside the major bullish channel, the downside pressure is not over yet as price still making lower highs since the fall from 1.6105 and still threatening the major bullish outlook especially if this downside pressure able to push price below the bullish channel and move consistently below 1.5650 testing at least 1.5600 even lower. The bias is bearish in nearest term testing 1.5650 and the lower line of the bullish channel. Immediate resistance at 1.5750/60 area. Break above that area could trigger further upside pressure testing 1.5800 – 1.5850.

USDJPY Forecast
The USDJPY break below 80.85 yesterday, bottomed at 80.40 and now struggling around 80.85 area. The bias is bearish in nearest term targeting 80.00. Another move back above 80.85 could lead us to neutral zone and boring range market again but the major scenario remains bearish and I prefer a bearish scenario at this phase. Initial resistance remains at 81.95 and only a clear break above that area could trigger further upside recovery.

USDCHF Forecast
The USDCHF attempted to push lower yesterday, bottomed at 0.9662 but closed higher at 0.9733 in a volatile but unclear movement. The bias is neutral in nearest term but as long as price moves inside the bullish channel we are still in bullish phase. Immediate support at 0.9650. Break below that area could trigger further bearish pressure testing the lower line of the bullish channel and could be a threat to the bullish phase. Initial resistance at 0.9750. Break above that area could trigger further upside pressure testing 0.9803 and 0.9877 area.

EURJPY Forecast
The EURJPY had a bearish momentum yesterday after price failed to break above the bearish channel as you can see on my h4 chart below. This fact keeps the major bearish scenario intact. The bias is bearish in nearest term testing 111.60. Immediate resistance at the upper line of the bearish channel and 113.75. Break above that area and violation to the bearish channel could be a threat to the current bearish outlook testing 114.65 and 115.65 area.

GBPJPY Forecast
The GBPJPY continued its bearish bias yesterday, bottomed at 126.43 and closed at 126.92 and traded around 127.07 at the time I wrote this comment. The bias is bearish in nearest term especially if price able to move below 126.72 targeting 125.28. Immediate resistance at 127.62 area and the trend line resistance (blue). Break above that area could trigger further upside pullback testing 128.40/90 area but as long as price moves inside the bearish channel the major scenario remains to the downside.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9973 but closed significantly lower at 0.9894. The bias is neutral in nearest term but the major scenario remains strongly bullish re-testing 1.0000 historical high. Immediate support at 0.9870 followed by 0.9837 (yesterday’s low). Break below that area could trigger further bearish pullback testing 0.9775 but as long as price moves inside the bullish channel the major scenario remains to the upside.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD had significant bullish momentum earlier today in Asian session, slipped above the bearish channel as you can see on my h4 chart below. This fact could be a threat to the bearish scenario especially if price able to consistently move above the bullish channel testing 1.4049 and 1.4158 in nearest term. Immediate support at 1.3953 (current low). Break below that area could trigger further bearish pullback testing 1.3900 and 1.3800 and lead us back to difficult situation similar to what happened in the last two weeks where direction is unclear and momentum is not consistent.

GBPUSD Forecast
The GBPUSD bounced higher earlier today in Asian session after found support at the lower line of the major bullish channel as you can see on my h4 chart below. This fact keeps the major bullish scenario intact especially if price able to make a clear break above 1.5750 and 23% Fibo retracement of 1.6105 – 1.5649 testing 1.5800 – 1.5850. On the downside, only a clear break below the major bullish channel and 1.5650 support area could be a threat to the major bullish scenario.

USDJPY Forecast
The USDJPY still trapped in range area of 81.95 – 80.85 since October 13, indicating consolidation phase but the major scenario remains bearish. The bias remains neutral in nearest term and need a clear break from the range area to see clearer direction. Break below 80.85 could trigger further bearish pressure targeting 80.00 and keep the major bearish scenario remains strong while break above 81.95 could trigger further bullish correction testing 82.87. Aggressive traders may long around 80.85 or short around 81.95 with tight stop loss.

USDCHF Forecast
The USDCHF was corrected lower earlier today in Asian session, struggling around 0.9730 support area as you can see on my h4 chart below. The bias is bearish in nearest term especially if break below 0.9730 testing 0.9650 but as long as price move inside the bullish channel we are still in bullish phase. Immediate resistance at 0.9830 (Friday’s high). Break below that area could trigger further upside momentum testing 0.9877.

EURJPY Forecast
The EURJPY continued its bullish momentum earlier today in Asian session, testing the upper line of the bearish channel after bounced from 111.60 support area as you can see on my h4 chart below. A break above the bearish channel could be a threat to the bearish scenario targeting 114.65 even 115.65. On the downside, immediate support at 113.30/40. Break below that area should keep the major bearish scenario intact testing 112.80/50 area.

GBPJPY Forecast
The GBPJPY attempted to push lower on Friday, bottomed at 127.07 but closed higher at 127.55 in a narrow market. The bias is neutral in nearest term. The major bearish scenario remains intact testing 126.72 but CCI in neutral area on h4 chart suggests potential bearish exhaustion for now. Immediate resistance at 128.20 and the trend line resistance area (blue). Break above that area could trigger further bullish pullback testing 128.90 – 129.20 resistance area.

AUDUSD Forecast
The AUDUSD had a bullish momentum earlier today in Asian session, slipped above 0.9917 resistance area. Consistent move above that area could trigger further bullish continuation testing 1.0000 even make a new historical highs in near future. Immediate support at 0.9837 (current low). Break below that area could lead us to neutral zone as direction would become unclear testing 0.9775 but as long as price moves 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 1.4121 but further bullish pressure was rejected, closed lower at 1.4024. The bias is neutral in nearest term but the main scenario remains bullish. I have made adjustment to my bullish channel as a reaction to the newest development. Immediate support at 1.3960. Break below that area could trigger further bearish correction testing the lower line of the bullish channel and 1.3910/00 support area but as long as price move inside the bullish channel I still prefer a bullish scenario. Only a clear move below the bullish channel could be a threat to the current strong bullish outlook and may lead us to consolidation phase again, re-testing 1.3800 support area. Initial resistance at 1.4080. Clear break above that area could continue the bullish pressure testing 1.4120 and 1.4170/90 region.

GBPUSD Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.6066 but closed lower at 1.5985 after found resistance at the upper line of the major bullish channel as you can see on my h4 chart below. The bias is neutral in nearest term. Price still move inside a minor bullish channel (blue) indicates the overall intra-day bullish bias remains intact but the fact that so far price still unable to move consistently above 1.6000 area diminish the strength of the bullish pressure. Immediate support at 1.5970. Clear break below that area could trigger further bearish correction testing the lower line of the minor bullish channel and 1.5900 support area. Initial resistance at 1.6066 (yesterday’s high) where some historical resistances also seen around that level. Clear break above that area could continue the bullish pressure testing 1.6100 and 1.6150.

USDJPY Forecast
The USDJPY attempted to push lower yesterday, bottomed at 80.85 but closed higher at 81.58. The bias is neutral in nearest term but overall we are still in strong bearish scenario targeting 80.60 and 80.00 especially if price able to make another clear break below 81.36. Immediate resistance at 81.95 and the minor trend line resistance. Break above that area could trigger further bullish correction testing 82.87 but I still prefer a bearish scenario at this phase.

USDCHF Forecast
The USDCHF attempted to push lower yesterday, bottomed at 0.9461 but closed significantly higher at 0.9554. The bias is neutral in nearest term but the main scenario remains bearish. We are now entering a consolidation phase where a consistent move above 0.9550 could trigger further bullish correction testing t0.9640 and the upper line of the bearish channel. Immediate support at 1.9500. Consistent move below that area could trigger further bearish pressure re-testing 0.9450 before targeting 0.9350 area.

EURJPY Forecast
The EURJPY didn’t make significant move yesterday. On h4 chart below we can see price trapped in range area of 113.75 – 114.75. The bias is neutral in nearest term and need a clear break on either side to see clearer direction. Break above 114.75 could trigger further bullish pressure testing 115.65 while a break below 113.75 could trigger further bearish pressure testing 112.84.

GBPJPY Forecast
The GBPJPY slipped below 129.82, but whipsawed to the upside, closed higher at 130.42. This fact keeps the bullish correction scenario intact testing 131.75 especially if price able to make a breakout above 131.00 . The main scenario remains to the downside, but need a clear break below 129.82 to continue the bearish scenario testing 128.99 and 128.54.

AUDUSD Forecast
The AUDUSD attempted to push higher yesterday, topped at 0.9993 but whipsawed to the downside and closed lower at 0.9895. The bias is neutral in nearest term and we are entering consolidation phase and my wait and see mode is activated but the major scenario remains bullish. On h4 chart below we can see price is now testing the trend line support. Break below that trend line could trigger further bearish correction testing 0.9775. On the upside, we need a break above 0.9993 to continue the bullish scenario testing 1.0050.

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday after bounced from 1.3800 support area on Tuesday and made a significant breakout above 1.4050 earlier today in Asian session as you can see on my h4 chart below. The candle is not complete yet at the time I wrote this comment, but if we have a convincing bullish h4 candle on this breakout, bullish continuation scenario will be confirmed targeting 1.4120 in nearest term before testing 1.4170/90 and 1.4400 area. On the downside, immediate support at 1.4028/00. A pullback below that area could lead us to neutral zone in nearest term as direction would become unclear but the major scenario remains bullish.

GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday and made a significant breakout above the minor bearish channel earlier today in Asian session as you can see on my h4 chart below indicates potential bullish continuation testing 1.6000/16. Break above that area could trigger further bullish momentum testing 1.6085 – 1.6100. Immediate support at 1.5937 (yesterday’s high). Break below that area could lead us to neutral zone as direction would be unclear but the major scenario remains bullish.

USDJPY Forecast
The USDJPY didn’t make significant movement yesterday, but had a strong bearish momentum earlier today in Asian session, break below 81.36 as you can see on my h4 chart below. The h4 candle is not complete yet at the time I wrote this comment, but if the candle able to close convincingly below 81.36, the hammer bullish scenario is fail and on the other hand could trigger further bearish continuation targeting 80.60 and 80.00 area. Immediate resistance at 81.72 (current high). Break above that area could lead us to neutral zone as direction would become unclear but the major scenario remains strongly bearish.

USDCHF Forecast
The USDCHF slipped below 0.9550 earlier today in Asian session, indicates potential bearish continuation testing 0.9450 before targeting 0.9350 especially if the h4 candle able to close convincingly below 0.9550. Any movement back above 0.9550 could lead us to neutral zone as direction would become unclear but the major scenario remains strongly bearish and long position is not recommended.

EURJPY Forecast
The EURJPY attempted to push higher yesterday, topped at 114.68 but closed lower at 114.25. The bias is neutral in nearest term but as you can see on my h4 chart below we have an inverse head and shoulders formation, which is a bullish pattern especially if price make a clear break above the neckline located at 114.75 targeting 115.65 before testing 117.00. Immediate support at 113.75. Break below that area will cancel the inverse head and shoulders bullish scenario and could trigger further bearish pressure testing 112.84.

GBPJPY Forecast
The GBPJPY was corrected higher yesterday, topped at 130.30 and closed at 130.17 and now struggling around 129.82. The bias is neutral in nearest term. Like I said yesterday, technically we still have rooms for any bullish correction at this phase but the major scenario remains bearish. Immediate resistance at 130.69. Break above that area could trigger further bullish correction testing 131.75 area. On the downside, consistent move below 129.82 could trigger further bearish pressure testing 128.99.

AUDUSD Forecast
The AUDUSD made a significant break above 0.9917 earlier today in Asian session, made a new historical high at 0.9981, indicates potential further bullish continuation testing 1.0050, a new historical high projection. The bias is bullish in nearest term and bullish continuation scenario is now confirmed. Immediate support at 0.9917. Break below that area could lead us to neutral zone in nearest term as direction would become unclear but the major scenario remains bullish.

Labels: Forex Analysis, forex signal, Forex Trend

EURUSD Forecast
The EURUSD was corrected significantly lower yesterday, slipped below the bullish channel as you can see on my h4 chart below. This fact could be a serious threat to the current strong bullish outlook. Short trades could be profitable in nearest term but I think we need to have a little bit more patient here and not rush judging a bearish reversal although reversal is potential now. The Euro enjoys strong bullish momentum since mid-September, so any downside correction is normal. The bias is bearish in nearest term especially if price able to move consistently below 1.3850 targeting 1.3800 and 1.3750 area. CCI in negative territory on h4 chart and need to stay in that area if we want to see a convincing bearish reversal scenario. On the upside, immediate resistance at 1.3950. Break above that area should keep the bullish scenario intact and false breakdown scenario could be produced re-testing 1.4028/50 area.

GBPUSD Forecast
The GBPUSD also corrected lower yesterday, slipped below the minor bullish channel, but now still struggling around the lower line of the bullish channel as you can see on my h4 chart below. The bias is neutral in nearest term. We need a consistent move below the minor bullish channel and 1.5860 to continue the bearish correction testing 1.5750 and 1.5650. Another strong move which lead price back inside the channel could trigger another false breakdown scenario re-testing 1.6000 even higher.

USDJPY Forecast
The USDJPY was corrected higher yesterday. The hammer candle stick formation gives an upside correction opportunity testing 82.87, but the major scenario remains bearish, especially if price break below 81.36 testing 80.60 and 80.80. Break above 82.87 could trigger further bullish correction, even a new beginning of a bullish reversal phase.

USDCHF Forecast
The USDCHF had a moderate bullish correction yesterday, but still move below the descending triangle. The bias remains neutral in nearest term. We are still in consolidation phase after strong bearish momentum. The major scenario remains bearish but price keeps making higher lows as you can see on my h4 chart below. I think I will stand aside for now and wait for further development. A movement back above the triangle could trigger further bullish correction testing 0.9778. On the downside, we still need a clear break below 0.9550 to continue the bearish pressure testing 0.9450 and 0.9350.

EURJPY Forecast
The EURJPY didn’t make significant move yesterday, but still able to move below the bullish channel indicating potential further bearish scenario especially if price make a clear break below 113.75 targeting 112.95 and 112.30. Immediate resistance at 114.73 (yesterday’s high). Break above that area could lead us to neutral zone as direction would be unclear and technical outlook will be a mess.

GBPJPY Forecast
The GBPJPY made another indecisive movement yesterday. The bias remains neutral in nearest term. On daily chart we have three Doji in three consecutive days indicating unclear direction so far but as long as price move inside the bearish channel we are still in bearish phase especially if price able to make a clear break below 129.82 targeting 128.54. Immediate resistance remains 131.75 followed by 132.55.

AUDUSD Forecast
The AUDUSD had a bearish momentum yesterday after unable to make a break above 0.9917. The major scenario remains bullish, but like I said yesterday, we can have a double top bearish scenario from here, testing 0.9775 and 0.9708 even 0.9600 and the lower line of the bullish channel. On the upside, we still need a clear break above 0.9917 to continue the bullish scenario.

Labels: Forex Abalysis, forex signal, Forex Trend