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December 5th, 2016 @ 6:11 pm by Muhammad Azeem

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12-5-2016 10-55-04 PMTrend is bearish in USD/CAD currency pair, 4 hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down on a short term basis to complete Bearish Triple Zig Zag Elliott Wave pattern and traders should look for a short trade. So, all those Forex traders who have followed the analysis have made the right decision as the price has descended. Strong key resistance level is present at 1.3537 price level.

Be sure to check out daily Forex market updates via Live Trading Room. In my judgement, price action in USD/CAD is now going to rise up to print bullish Wave x leg. Next, I expect a drop in price towards 1.3070 price level to complete a bearish corrective Elliott wave Triple Zig Zag pattern, in coming trading days.

Currently; Bearish Triple Zig Zag Pattern looks in-complete and price action offers a possible sell trade setup at wave x location to join the down trend. However; if price of USD/CAD currency pair breaks above 1.3537 critical resistance level then I might like to stay out of the market and re-examine the four hour chart of USD/CAD currency pair.

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December 5th, 2016 @ 4:32 am by William Gilday

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Screen Shot 2016-12-05 at 11.22.10

Hello traders good to be with you on this new trading week. We are looking at the GBPUSD 60 minute chart. My bias is bearish and I expect this to continue to the down side in the next day. I have placed a resistance line and also some arrows showing indecision candles, tells me that the bull are getting weak. That is also why I placed a trend line on the chart and waiting for price to close below. I would like to enter this trade at the price of 1.2640. I am looking for profit at the 200 EMA at the price of 1.2540. This could be a nice 100 pip trade today ..

Thank you traders and we will talk soon…….William

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December 5th, 2016 @ 4:15 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bearish momentum earlier today in Asian session, hit 1.0504. The bias is bearish in nearest term testing 1.0450 key support. Immediate resistance is seen around 1.0600. A clear break above that area could lead price to neutral zone in nearest term testing 1.0650 region. From a longer term perspective as you can see on my daily chart below, price is testing the lower line of the range area, which is a good place to buy with a tight stop loss below 1.0450. A clear break and daily close below 1.0450 would activate my bearish mode.

eurusddaily

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December 5th, 2016 @ 4:10 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum last week topped at 1.2737. The bias is bullish in nearest term testing 1.2800 – 1.2900 region. Immediate support is seen around 1.2625. A clear break below that area could lead price to neutral zone in nearest term testing 1.2550 area. Overall, as long as stay above 1.2330 I remain bullish and any downside pullback should be seen as a good opportunity to buy.

gbpusdh4

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December 5th, 2016 @ 4:08 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive last week. The bias is neutral in nearest term. Immediate support is seen around 112.75. A clear break below that area could trigger further bearish pressure but as long as stay above 111.50 the major bullish scenario should remain strong with nearest target seen around 116.00 and any downside pullback should be seen as a good opportunity tu buy.

usdjpydaily

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December 5th, 2016 @ 3:54 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bullish momentum earlier today in Asian session hit 1.0181 after another failure to break below the range area as you can see on my daily chart below. The bias is bullish in nearest term testing 1.0200. A clear break and daily close above that area would expose 1.0325 region. Immediate support is seen around 1.0135. A clear break below that area could lead price to neutral zone in nearest term testing 1.0100 – 1.0070 support area. Overall I remain neutral.

usdchfdaily

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December 2nd, 2016 @ 2:16 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD failed to continue its bearish momentum yesterday topped at 1.0668. The bias is neutral in nearest term. As you can see on my H1 chart below price is moving inside a range area and we need a clear break from the range area to see clearer direction. A clear break and daily/weekly close above 1.0700 could trigger further bullish pressure testing 1.0850 next week. On the downside, key support remains at 1.0550 – 1.0450 region which is a good place to buy with a tight stop loss. Overall I remain neutral.

eurusdhourly

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December 2nd, 2016 @ 2:12 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday, slipped above the range area as you can see on my H4 chart below but closed lower at 1.2590. The bias is neutral in nearest term, probably with a little bearish bias as we might have a false breakout bearish scenario testing 1.2500 support area but as long as stay above 1.2330 I still prefer a bullish scenario and any downside pullback should be seen as a good opportunity to buy.

gbpusdh4

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