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2012 October

October 31st, 2012 @ 7:08 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had a bullish momentum yesterday, topped at 1.2982. The bullish momentum was not as strong as I had expected but nearest term bias is more to the upside after formed the triple bottom formation testing 1.3000/25 or higher. Immediate support is seen around 1.2950/40. A clear break back below that area could lead price to neutral zone in nearest term testing 1.2900 – 1.2885 key intraday support area. A clear break and daily close below that area will cancel the triple bottom bullish scenario testing 1.2850/00 and 1.2750 major support.

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October 31st, 2012 @ 7:04 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY attempted to push lower yesterday, slipped below the bullish channel, bottomed at 102.16 but whipsawed to the upside and closed at 103.26. The bias is neutral in nearest term. As you can see on my daily chart below, during the bullish movement from July, price slipped below the bullish channel twice but failed to move consistently below the bullish channel and bounced higher. That behavior could occur again this time. The bias is neutral in nearest term. Immediate resistance is seen around 103.40. A clear break above that area could trigger further bullish pressure testing 104.00/40 area. Immediate support is seen around 103.00. A clear break below that area could trigger further bearish pressure testing 102.50/16.

GBPJPY Forecast
The GBPJPY was volatile but indecisive yesterday. The bias is neutral in nearest term. Overall as long as stays above the trend line support (white) I still prefer a bullish scenario. Immediate resistance is seen around 128.50. A clear break above that area could trigger further bullish pressure testing 129.00/50. Immediate support is seen around 127.80. A clear break below that area could trigger further bearish pressure testing 127.00.

AUDUSD Forecast
The AUDUSD had a bullish momentum yesterday and hit 1.0389 earlier today. The bias is bullish in nearest term testing 1.0410 which needs to be clearly broken to the upside to continue the false breakdown bullish scenario testing 1.0500 region. Immediate support is seen around 1.0350. A clear break below that area could lead price to neutral zone in nearest term testing 1.0300.

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October 31st, 2012 @ 6:59 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD failed to continue its bearish momentum yesterday and hit 1.6086 earlier today. The bias is bullish in nearest term testing 1.6100/50 area. Immediate support is seen around 1.6050. A clear break below that area could lead price to neutral in nearest term testing 1.6000 – 1.5990. My medium term outlook remains neutral/unclear.

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October 31st, 2012 @ 6:54 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was volatile but indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Overall I still prefer a bullish scenario but need a clear break and daily close above 80.50 to continue the bullish scenario. On the downside, key intraday support area is seen around 79.00.

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October 31st, 2012 @ 6:51 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum yesterday bottomed at 0.9299. The bearish momentum was not as strong as I had expected but nearest term bias now turns bearish testing 0.9250. Immediate resistance is seen around 0.9330. A clear break above that area could trigger further bullish pressure testing 0.9380 but as long as stays below 0.9420/35 I still prefer a bearish scenario at this phase.

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October 31st, 2012 @ 1:56 am by Mark De La Paz

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GBPUSD
Resistance: 1.6086 minor / 1.6111 minor / 1.6141 minor
Support: 1.6065 minor / 1.6038 minor / 1.6005 minor

Tuesday saw Cable with a bounce off the 55D EMA with daily indicators showing a mixed view stochastic coming off overbought levels while macd is flat. Note we risk violating the lower highs and lower lows pattern for the daily charts. In the lower time frames we have stochastic overbought while macd is flat after attempting to cross higher in 4H charts, the candlestick themselves appear indecisive. Hourly charts for their part has a bearish divergence out of stochastic while macd’s are just crossing lower. Immediate risk calls for a close under 1.6065 for a resumption of our daily pattern of lower highs and lower lows.

AUDUSD
Resistance: 1.0386 minor / 1.0410 moderate / 1.0439 minor
Support: 1.0359 minor / 1.0326 minor / 1.0304 moderate

Tuesday saw the Aussy closing sa a white candlestick while earlier release turned out to be Aussy positive as Building Approvals came out strongly. Daily indicators has stochastic in the process of crossing up while macd is also heading higher. Note we have been surprise of late on the strength of Australian macroeconomic data. In the lower timeframes we have mixed signals with 4H stochastic coming off overbought areas while macd is rising. Hourly charts for their part has a confluence of buys with macd just crossing up while stochastic is also heading higher. For now we need a close above 1.0386 to pull the trigger on a new buy though dips to 1.0359 may also be seen as an alternative bullish entry.

EURUSD
Resistance: 1.2983 minor / 1.3013 moderate / 1.3041 minor
Support: 1.2956 minor / 1.2923 minor / 1.2886 moderate

At the close Euro saw a big white candlestick though stayed under the 21D EMA to suggest that we remain in a ranging market. Among indicators we have mixed signals with the daily macd heading lower whole stochastic is pushing up. In the lower time frames we are seeing mixed signals with 4H stochastic just coming off overbought areas while macd is bullish, the candlesticks for their part could be qualified as a dark cloud cover. Hourly charts for their part has mixed signals with macd heading lower and stochastic pointing up. Note we appear to have a possible straddle with a close under 1.2956 seen as a bearish entry while a push above 1.2983 will be a buy signal.

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October 30th, 2012 @ 7:36 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Price slipped below the bullish channel which is a threat to the bullish scenario but we have a triple bottom formation on daily chart around 1.2885 which need to be clearly broken to the downside to continue the bearish pressure testing 1.2850 – 1.2800 and major support at 1.2750. Immediate resistance is seen around 1.2950/60. A clear break above that area could trigger further bullish pressure testing 1.2980 – 1.3000/25.

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October 30th, 2012 @ 7:33 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.6005. The bias is bearish in nearest term testing 1.5990/50 but overall my medium term outlook remains neutral and I am not in a bearish mode yet. Immediate resistance is seen around 1.6060. A clear break above that area could lead price to neutral zone in nearest term testing 1.6100/50. Overall price is still making lower highs since fell from 1.6300 but still unable to consistently moving lower. Major support is seen around the daily EMA 200 located around 1.5880.

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