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2012 February

February 29th, 2012 @ 5:08 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD continued its bullish bias yesterday after corrected lower on Monday, topped at 1.3478 and hit 1.3483 earlier today. The bias is bullish in nearest term especially if price able to stay consistently above 1.3460-80 resistance area targeting 1.3600/50 region. Immediate support is seen around 1.3425. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.3320 I still prefer a bullish intraday scenario at this phase. Price is now struggling around the 200-daily-EMA. A clear break and daily close above the 200-daily-EMA could be an early signal of a major bullish reversal scenario.

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February 29th, 2012 @ 5:01 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY regained its bullish momentum yesterday, topped at 108.73 and closed at 108.45. The bias is bullish in nearest term testing 109.23/73. Immediate support is seen around 108.00. A clear break below that area could lead price to neutral zone in nearest term testing 107.30/00 area but as long as stays above 106.50 I still prefer a bullish scenario at this phase with buy on dips strategy.

GBPJPY  Forecast
The GBPJPY regained its bullish bias yesterday, topped at 128.22 and hit 128.44 earlier today. The bias is bullish in nearest term testing 129.42 before testing 130.82 as a part of the bullish scenario after the breakout above trend line resistance as you can see on my daily chart below. Immediate support is seen around 127.40. A clear break below that area could lead price to neutral zone in nearest term testing 126.50 but as long as stays above 125.50 I still prefer a bullish scenario at this phase with buy on dips strategy.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday, topped at 1.0798 and hit 1.0822 earlier today. The bias remains bullish in nearest term testing 1.0844. A clear break and daily close above that area could trigger further bullish scenario testing 1.0890 area even higher. Immediate support is seen around 1.0780. A clear break below that area could lead price to neutral zone in nearest term testing 1.0725 support area but as long as stays above 1.0600 I still prefer a bullish intraday scenario at this phase with buy on dips strategy. Overall price remains sideways in the last four weeks moving between 1.0844 – 1.0600 area.

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February 29th, 2012 @ 4:48 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD regained its bullish momentum yesterday, topped at 1.5921 and hit 1.5936 earlier today. The bias is bullish in nearest term testing 1.6000 area. Immediate support is seen around 1.5900. A clear break below that area could lead price to neutral zone in nearest term testing 1.5850/00 area but any downside pullback now is normal and as long as stays above 1.5650 I still prefer a bullish scenario at this phase with buy on dips strategy as a part of the bullish scenario since the breakout above the trend line resistance.

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February 29th, 2012 @ 4:36 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but overall I still prefer a bullish scenario at this phase expecting another upside attempt retesting 81.46 area even higher. On the downside, a clear break and daily close back below 79.52 would postpone the bullish scenario as intraday direction would become unclear.

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February 29th, 2012 @ 4:28 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF regained its bearish momentum yesterday, bottomed at 0.8940. The bias is bearish in nearest term testing 0.8900 – 0.8800 area. Immediate resistance is seen around 0.9000. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9050 I still prefer a bearish intraday scenario at this phase with short on rallies strategy.

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February 28th, 2012 @ 5:10 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was corrected lower yesterday after unable to make a clear break and daily close above the 200-daily-EMA as you can see on my daily chart below. The bias is neutral in nearest term. Price is still in a bullish intraday phase since the failure to make a clear break below 1.3000 and I still prefer a bullish intraday scenario at this phase, but need a clear break and daily close above the 200-daily-EMA and 1.3460 to continue the bullish scenario testing 1.3530 – 1.3650 area. On the downside, a clear break back below 1.3320/00 would postpone the bullish scenario but would keep the major/daily bearish outlook remains intact.

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February 28th, 2012 @ 5:04 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY was corrected lower yesterday, bottomed at 107.18 and closed at 107.87. The bias is neutral in nearest term. Overall I still prefer a bullish intraday scenario at this phase and the current bearish correction is normal. Immediate resistance is seen around 108.10 area. A clear break and daily close above that area could end the current bearish correction phase and continue the bullish bias testing 109.23/73 area. Immediate support is seen around 106.50. I don’t expect any movement below that area as it would postpone the bullish scenario and activate my wait and see mode.

GBPJPY  Forecast
The GBPJPY was corrected lower yesterday, bottomed at 126.93 and hit 126.66 earlier today. The bias is neutral in nearest term but as long as stays above 125.50 I still prefer a bullish scenario at this phase with buy on dips strategy targeting 130.82 as a part of the bullish scenario after the breakout above the trend line resistance as you can see on my daily chart below. The current bearish correction momentum should be seen just as a normal corrective movement.


AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday, topped at 1.0783 and closed at 1.0756. The bias is bullish in nearest term especially if price able to make another break above 1.0783 testing 1.0844. Immediate support is seen around 1.0725. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 1.0600 I still prefer a bullish intraday scenario at this phase with buy on dips strategy.

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February 28th, 2012 @ 4:56 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD was corrected lower yesterday, bottomed at 1.5809 and closed at 1.5829. The bias is neutral in nearest term. Overall price is still in a bullish phase since the breakout above the trend line resistance but has been moving sideways in the last four weeks as you can see on my daily chart below. There are no changes in my technical outlook and as long as stays above 1.5650 I still prefer a bullish intraday scenario at this phase with buy on dips strategy still testing 1.5900 – 1.6000. Immediate support remains around 1.5800 – 1.5770 area. A clear break below that area could trigger further bearish pullback testing 1.5700 – 1.5650.

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