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2012 April

April 2nd, 2012 @ 4:33 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was able to maintain its bullish bias last week and still moving inside the bullish channel as you can see on my h4 chart below. However, looks like 1.3400 resistance area will be a strong/key resistance at this phase and need to be broken to continue the bullish scenario testing 1.3480 – 1.3500 area. Immediate support is seen around the lower line of the bullish channel and 1.3300 – 1.3280 area. A clear break below that area could trigger further bearish pressure testing 1.3240 and could be a threat to the bullish outlook.

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April 2nd, 2012 @ 4:27 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY was able to maintain its bullish bias last week. The bias is bullish in nearest term still testing 111.58. A clear break and daily close above that area could trigger further bullish scenario testing 114.00 this week. Immediate support is seen around 110.50. A clear break below that area could lead price to neutral zone in nearest term testing 110.00 but as long as stays above the trend line support I still prefer a bullish scenario at this phase.

GBPJPY  Forecast
The GBPJPY was able to maintain its bullish bias last week and now testing 133.50. A clear break and daily close above that area could trigger further bullish pressure testing 135.10. Immediate support is seen around 132.50. A clear break below that area could lead price to neutral zone in nearest term testing 131.50 but any downside pullback now is normal and overall I still prefer a bullish scenario at this phase.


AUDUSD Forecast
The AUDUSD was indecisive last week but overall still able to maintain its bearish intraday outlook and keep making lower highs and lows. The bias is bearish in nearest term testing 1.0300 – 1.0200 area. Immediate resistance is seen around 1.0415. A clear break above that area could lead price to neutral zone in nearest term testing 1.0450 – 1.0500 but overall as long as stays below 1.0600 I still prefer a bearish scenario at this phase.

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April 2nd, 2012 @ 4:16 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD had a bullish momentum last week, slipped above 1.6000 and now struggling around that area. The bias is bullish in nearest term especially if price able to make a consistent move above 1.6000 targeting 1.6129/50 area as a part of the bullish scenario after broke above the trend line resistance as you can see on my daily chart below. Immediate support is seen around 1.5950. A clear break back below that area could lead price to neutral zone in nearest term testing 1.5900. A clear break and daily close below 1.5900 could create a false breakout scenario which could trigger further bearish pullback and keep price inside the range area. Note that price has been moving sideways for more than two months now but as long as stays above 1.5900 I prefer a bullish scenario and expecting a clear movement above 1.6000.

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April 2nd, 2012 @ 4:11 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive last week but overall still able to maintain its major bullish bias after once again found a good support around 81.80. The bias is bullish in nearest term testing 84.00/17 area. Immediate support is seen around 82.50/70. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 81.80 I still prefer to buy on dips.

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April 2nd, 2012 @ 4:04 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF didn’t make significant movement last week but overall still able to maintain its bearish bias and keep making lower highs after the false breakout above 0.9320. The bias remains bearish in nearest term testing 0.8950/30. Immediate resistance is seen around 0.9050. A clear break above that area could lead price to neutral zone in nearest term testing 0.9100/40 but overall I still prefer a bearish scenario at this phase.

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April 1st, 2012 @ 1:46 pm by The Geek

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Simultaneous Release at
TheGeekKnows.com  Learn Forex Trading and read exclusive EUR/USD Reviews.

Good day forex traders.

In the previous EUR/USD forex forecast weekly review we noted that both SMAs were flat and hence the currency pair might go either ways. If the current bullish momentum continued, the first target would be 1.34 though 1.3360 is an immediate resistance in my charts of a lower time frame. Equities worldwide were mainly green due to the speculation of possible future economic stimulus, perhaps in the form of a new quantitative easing by the US Federal Reserve.

Technical Analysis

As mentioned, the 1.34 will probably be a target of any bullish momentum and it was nearly reached. 1.3360 proved to have had an influence on the currency pair. I LOVE IT WHEN MY CHARTS WORK :)

SMA 20 = bullish

SMA 50 = bullish

While both SMAs are bullish, we probably should wait for a cross over of the SMA 20 towards the upside of the SMA 50 first before considering any possibility of further rallies. Do note though that 1.34 is usually a strong resistance and the SMA 200 which reflects long term possibilities is still bearish and may act as a resistance too.

Complete the review!

Continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forex Forecast Weekly Review to understand more about the underlying market sentiments

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