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2010 January

January 19th, 2010 @ 2:58 am by Setyo Wibowo

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EURUSD Forecast:
The EURUSD had a moderate bullish momentum yesterday, topped at 1.4399, closed at 1.4383 and keep moving higher earlier today in Asian session traded around 1.4407 at the time I wrote this comment. I think the bias should remains neutral in nearest term as I am still expecting a range market between 1.4450 – 1.4250 at this phase. On daily chart below we can see that price move in triangle area indicating a consolidation. For me unless we have a break above 1.4450 I still prefer a bearish scenario. Break above 1.4450 should be seen as bearish failure which could trigger further bullish momentum re-testing 1.4600 area.

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January 19th, 2010 @ 2:50 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY made indecisive movement yesterday. We have nothing significant technically and the bias is neutral in nearest term but I still prefer a bearish scenario at this phase especially we we have a valid break below 130.00 targeting 129.00 area. Immediate resistance at 131.30. Break above that area should be seen as a serious threat to the bearish outlook.

GBPJPY Forecast
The GBPJPY didn’t make significant movement yesterday, but earlier today in Asian session we have some upside pressure. However, as you can see in my daily chart below, price still trapped in triangle area indicating consolidation (I made some adjustment to the triangle). I think we are in no trading zone and I prefer to stand aside for now and wait for further development. We need a clear break from the triangle to see clearer direction. Immediate resistance at 149.95. Break above that area should be seen as potential bullish scenario. Initial support at 148.00 area. Break below that area should be seen as potential bearish scenario.

AUDUSD Forecast
The AUDUSD failed to continue its bearish momentum yesterday, topped at 0.9278 and closed at 0.9261. This fact lead me to a no trading zone area but the bias is to the upside in nearest term. My bearish scenario should remains intact as long as price move below 0.9325 area, which is for me a good place for a short position with a tight stop loss above it. Immediate support at 0.9240 area. Break below that area should trigger further bearish momentum and keep the bearish scenario towards 0.9110 intact.

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January 19th, 2010 @ 2:44 am by Setyo Wibowo

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GBPUSD Forecast:
The GBPUSD had a significant bullish momentum yesterday, break above the trendline resistance indicating potential bullish outlook. The bias is bullish in nearest term but we need a clear break above 1.6430 area to continue bullish scenario targeting 1.6600 area. Immediate support at 1.6330 area. Break below that area should be seen as potential threat to the bullish outlook testing 1.6250 area.

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January 19th, 2010 @ 2:37 am by Setyo Wibowo

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USDJPY Forecast:
The USDJPY didn’t make significant movement yesterday. We have nothing significant technically so I still prefer a bearish scenario towards 90.15. Break below that area should trigger further bearish scenario targeting 88.80 area. Immediate resistance at 91.30 followed by 91.85. Only break above 91.85 could be seen as bearish failure and trigger further bullish momentum towards 93.75 area.

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January 19th, 2010 @ 2:25 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a moderate bearish momentum yesterday. On h4 chart below we can see that the bearish channel remains valid keep the bearish scenario intact. The bias remains neutral in nearest term. Immediate support at 1.0213. Break below that area should trigger further bearish momentum targeting 1.0143/30 area.

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January 18th, 2010 @ 4:25 pm by The Geek

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Simultaneous Release at www.thegeekknows.com

Goooooooooood Morning Koalas!

Welcome to a new week of Forex trading. Making money in forex is …………. NEVER EASY.

Look at how our currency pair the EUR/USD flipped around over the weeks. How easy can that be?

While the US stock market is closed today, Europe’s is in green.

Gold and oil did not move much and are currently at $1135+ and $77+ respectively.

***

After the massive dip last Friday, probably a result of risk aversion, investors in Asia and Europe seem to be hunting for higher yields again as the EUR/USD climbs slowly.

The German German ZEW Economic Sentiment tomorrow is expected to come in slightly below 50 and any significant difference from the expectation may trigger momentum. Tomorrow brings us the US TIC Long-Term Purchases as well and being an indicator of the balance of domestic and foreign investment, many investors will be looking at this for a possible outlook on the US economy’s health.

With the US market closed, please be on a look out for low volume anomalies like spikes and whipsaws.

Bullish pressure may have us testing 1.4400 while bears may want to see 1.4362/25.

***

Folks, my blog is indeed my labor of love. If you notice, i have been putting in lots of efforts these days, trying to cover more to help more folks new to Forex and also to make things more interesting to brighten up one’s day. I hope i am doing it the right way and i do welcome all feedback!

Currently, i am doing a Best in 2009 series where i highlight different parts of the blog that came up top in 2009. My first is up and it is the most watched funny Forex video in 2009.

Enjoy and trade safely :)

Read more Forex Articles and Views by The Koala at www.thegeekknows.com

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January 18th, 2010 @ 3:22 am by Setyo Wibowo

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EURUSD Forecast:
As I had expected, the EURUSD had a bearish momentum after break below 1.4450, bottomed at 1.4338 and closed at 1.4379 on Friday. The bias is neutral in nearest term but I prefer a bearish scenario at this phase targeting 1.4250 area as bullish scenario failed. Immediate resistance at 1.4400 – 1.4450 area. Only break above 1.4450 area should be seen as bearish failure and lead us into no trading zone as direction would become unclear.

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January 18th, 2010 @ 3:16 am by Setyo Wibowo

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EURJPY Forecast
As I had expected, the EURJPY had a bearish momentum on Friday, bottomed at 130.29 and closed at 130.59. This fact should keep my bearish scenario intact but we need a clear break below 130.00 area to continue further bearish scenario targeting 129.00. Immediate resistance at 131.30. Break above that area should be a potential threat to my bearish outlook and could trigger further bullish momentum.

GBPJPY Forecast
The GBPJPY had a bearish momentum on Friday. On daily chart below we can see that price is now struggling around the lower line of the triangle indicating a critical phase. So far price still able to stay below the triangle so I prefer a bearish scenario at this phase targeting 146.70 area. Immediate resistance at 148.20 area. Break above that area should lead us into no trading zone as direction would become unclear.

AUDUSD Forecast
My technical strategy to short around 0.9325 area as a top/peak was proved to be a good strategy as we had a significant bearish momentum on Friday. On h4 chart below we can see that the bullish channel has been violated to the downside indicating bullish failure and potential bearish scenario targeting 0.9110. Immediate resistance at 0.9240 area. Break above that area should lead us into no trading zone as direction would become unclear.

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