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2010 November

November 30th, 2010 @ 3:52 pm by The Geek

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Good day forex trading koalas !

In the previous review, Masoud noted the concerns in the market and analyzed that the EUR/USD might continue to be bearish if it remained in the current bearish channel. A break below 1.3 might open up 1.29 for the currency pair.

A look at the EUR/USD chart above shows significant bearish momentum. The cross over to the 1.200s earlier implied that the momentum is strong.

The S&P 500 is down at 1180 and this is probably due to negative sentiments. Portugal and Spain are target of speculations as investors worry that the two countries may be next in the bailout party.

In this market environment, the gold koalas are probably the most happy lot! Clocking in at $1383+, gold price is indeed elevated. A classic suggestion of risk aversion.

Mr Trichet from the ECB is due to speak soon and hours later Mr Bernanke from the US Fed. As forex traders may react to their speeches strongly at times, proper planning of your trades is crucial. Tomorrow brings us more economic data such as the German Retail Sales and US ADP Non-Farm Employment Change.

From a technical point of view, the EUR/USD remains within the bearish channel on the H4 and on the daily timeframe it has crossed below the 200 moving average.

Trade Safely and remember US NFP is due this Friday!

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Related Forex Articles from the Koala Forex Training College.

Read more Forex Articles and Views by The Koala at
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November 30th, 2010 @ 4:55 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD continued its bearish pressure yesterday, bottomed at 1.3063 and closed at 1.3099. This fact opens the door for further bearish scenario targeting my weekly target around 1.2920 region. The bias remains bearish in nearest term testing 1.3000 especially if price able to stay consistently below 1.3100. Immediate resistance at 1.3150 (current high). Break above that area could lead us to neutral zone in nearest term testing 1.3200 but overall we are still in strong bearish phase.

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November 30th, 2010 @ 4:43 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY had a bearish momentum yesterday and now struggling around 110.30 support area. The bias is bearish in nearest term especially if price able to stay consistently below 110.30 testing 109.50 – 109.00 area. Immediate resistance at 110.68 (current high). Break above that area could trigger further bullish momentum testing 111.91 and keep us in boring range condition.

GBPJPY  Forecast
The GBPJPY didn’t make significant momentum yesterday but so far I think the pressure remains to the downside. The bias remains bearish in nearest term especially if price able to stay consistently below 130.84 targeting 129.83. Immediate resistance at 131.36 (yesterday’s high). Break above that area would lead us back to range market between 130.84 – 132.00 but I still prefer a bearish scenario at this phase.


AUDUSD Forecast
The AUDUSD continued its bearish pressure yesterday, bottomed at 0.9566 but closed a little bit higher at 0.9606. Price rebounded higher earlier today in Asian session, hit 0.9659. The bias is neutral in nearest term but overall I think we are still in strong bearish phase targeting 0.9550. Clear break below that area could trigger further bearish scenario testing 0.9450 region. Immediate resistance at 0.9659 (current high). Break above that area could trigger further bullish pullback testing 0.9710.

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November 30th, 2010 @ 4:34 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.5646 but whipsawed to the downside, bottomed at 1.5527 and closed 1.5547. The bias remains bearish in nearest term testing 1.5500 – 1.5450. Immediate resistance at 1.5571 (current high). Break above that area could lead us to neutral zone in nearest term testing 1.5650 but overall we are still in strong bearish phase.

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November 30th, 2010 @ 4:29 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push lower, bottomed at 83.81 but closed higher at 84.26. The bias remains bullish in nearest term targeting 84.70. Immediate support remains around 83.70. Break below that area could lead us to neutral zone as direction would become unclear but I still prefer a bullish scenario at this phase.

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November 30th, 2010 @ 4:21 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF bullish momentum was paused yesterday and hit 0.9959 earlier today in Asian session. The bias is neutral in nearest term and my wait and see mode is now activated. I still prefer a bullish scenario but need a clear break above 1.0050 to continue the bullish scenario testing 1.0182. Immediate support at 0.9920. Break below that area could trigger further bearish pressure testing 0.9850.

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November 29th, 2010 @ 5:06 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD attempted to push lower earlier today in Asian session, hit 1.3181 but corrected a little bit higher around 1.3230 at the time I wrote this comment. Price still able to maintain position below the bullish channel indicates potential further bearish pressure. The bias remains bearish in nearest term testing 1.3100 especially if we have another strong break below 1.3181. Immediate resistance at 1.3290. Break above that area could lead us to neutral zone in nearest term testing 1.3333/50 but overall we are still in strong bearish phase.

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November 29th, 2010 @ 4:56 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY made another volatile but indecisive movement on Friday. On h4 chart below we can seen price is now moving in a range area again between 111.91 – 110.30. Aggressive intra-day traders may short around 111.91 or long around 110.30 with tight stop loss.  We know that this pair has been traded in range condition for the last two months now so taking advantage from this range condition could be a good idea.

GBPJPY  Forecast
The GBPJPY had a bearish momentum on Friday after failed to make a clear break above 132.00 area. The bias is bearish in nearest term but I think we still need a clear break below 130.84 to continue the bearish scenario targeting 129.83. Immediate resistance remains at 132.00. Clear break above that area could trigger further bullish momentum testing 133.00 region.

AUDUSD Forecast
The AUDUSD had a bearish momentum on Friday, bottomed at 0.9611 and hit 0.9584 earlier today in Asian session. The bias is bearish in nearest term testing 0.9550. Immediate resistance at 0.9681 (current high). Break above that area could lead us to neutral zone in nearest term testing 0.9750 but overall we are still in bearish phase.

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