Forex Academy Quick Links:
Language:
English

2012 November

November 30th, 2012 @ 2:06 am by Mark De La Paz

Click here to read the full article.

AUDUSD
Resistance: 1.0440 minor / 1.0469 moderate / 1.0490 minor
Support: 1.0418 minor / 1.0369 moderate / 1.0369 minor

Aussie has seen a range play throughout the week with new lows generated and daily highs just around 1.0469. Thursday saw the latest daily candle with another low for the week while indicators are beginning to turn bearish across the board as macd top-off and stochastic heads lower. Note we have the daily EMA lines just under the current price level. From the 4H picture we have a multiple top breakout with indicators pointing lower stochastic poised to push oversold while macd is dropping. Hourly charts for their part has a double bottom with a confluence of buys in the making as stochastic and macd’s are poised to cross higher. Given our daily patterns we prefer looking for a close up above 1.0440 our double bottom trigger.

EURJPY
Resistance: 106.74 minor / 107.12 moderate / 107.50 minor
Support: 106.43 minor / 106.13 moderate / 105.69 moderate

Thursday saw a smaller range for EURJPY as the enthusiasm over the Japanese election appears to be fading. Although we still saw a white candle there appears to be little sense of urgency given the close. Daily indicators has stochastic crossing up while macd is flat above the signal line. In the 4H picture we continue to see indecisive candlesticks while stochastic has come off overbought levels and macd flat just above the signal line. Hourly indicators for now has a confluence of bears with stochastic off overbought areas and macd’s pointing lower beneath the signal line. For now we prefer a buy on dips to 106.13 though shorts may also be considered off 107.12 with markets looking mixed.

EURUSD
Resistance: 1.2999 minor / 1.3013 moderate / 1.3049 minor
Support: 1.2966 minor / 1.2944 moderate / 1.2915 minor

Daily price action is now turning mixed for EURUSD given the succession of a long tail and a long wick in the candlesticks with the real body for the week staying at roughly the same area. Among indicators we have daily macd’s heading up while stochastic is poised to cross higher opening the possibility of a bullish breakout. From the lower time frames we have 4H stochastic heading lower while macd is flat above the signal line. Hourly indicators are both pointing down suggesting we have an immediate downside risk. We prefer getting a buy on dips to 1.2944 though failure to see such a move may have us looking for buys of 1.2966 by the time European markets open with a break of 1.3013 as our objective. Note we actuallu have a double top forming in he 4H charts though there is little suggestion from price action or indicators of it being triggered.

Click here to read the full article.

November 30th, 2012 @ 1:00 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push higher but still unable to move consistently above 1.3000 so far. The bias is neutral in nearest term. Immediate support is seen around 1.2940/50. A clear break below that area could trigger further bearish pressure testing 1.2900 – 1.2885. On the upside, a clear break and daily/weekly close above 1.3000 could trigger further bullish pressure testing 1.3100 – 1.3170. My medium/long term outlook remains unclear/neutral.

Click here to read the full article.

November 30th, 2012 @ 12:56 am by Setyo Wibowo

Click here to read the full article.

GBPUSD Forecast
The GBPUSD didn’t make significant movement yesterday. There are no changes in my technical outlook. Nearest term bias is a little bit bullish testing 1.6100. Immediate support is seen around 1.6000. A clear break below that area could trigger further bearish pressure testing 1.5950 area. Price has been moving in a narrow range this week and hopefully we will see significant movement next week.

Click here to read the full article.

November 30th, 2012 @ 12:52 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term but overall I still prefer a bullish scenario. Immediate support remains around 81.50 followed by 81.00. Immediate resistance remains around 82.20 followed by 82.50 which need to be clearly broken to the upside to continue the bullish scenario testing 83.00 – 84.00.

Click here to read the full article.

November 30th, 2012 @ 12:47 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Important intraday range to be closely watched remains between 0.9350 – 0.9250. We need a clear break from that range area to see clearer direction. A clear break and daily close below 0.9250 could trigger further bearish pressure testing 0.9115. On the other hand, a clear break above 0.9350 could trigger further bullish pressure testing 0.9400 – 0.9450.

Click here to read the full article.

November 29th, 2012 @ 2:12 am by Mark De La Paz

Click here to read the full article.

AUDJPY
Resistance: 86.10 minor / 86.43 moderate / 86.78 minor
Support: 85.82 minor / 85.57 minor / 85.35 moderate

In the end we have a long tail for AUDJPY Wednesday with the real body large enough to prevent us from calling a hammer. Daily indicators look mixed as stochastic comes off overbought areas while macd is flat above the signal line. From the 4H picture we have a lower high and lower low setup with the congestion generally drifting lower. Indicators has 4H stochastic overbought while macd has bottomed out. Hourly charts for their part has mixed signals with stochastic heading lower and macd’s pointing up. For now we prefer remaining sidelined though a dip to 85.57 and 85.35 may be seen as a bullish entry with tight stops under yesterdays lows at 85.23.

AUDUSD
Resistance: 1.0469 moderate / 1.0490 minor / 1.0519 moderate
Support: 1.0438 minor / 1.0423 minor / 1.0396 moderate

Wednesday saw a sharp turn-around in Aussy after a very whipsawish market closing once again just above the 1.0469 area. Despite the bullish engulfing candle in the daily charts indicators still has stochastic coming off overbought areas while macd was heading up underscoring the inability to generate a follow through to our wide range play breakout. Intraday we have a confluence of bears in the making with 4H stochastic just crossing lower while macd is also heading down. Hourly charts for their part has a bearish stochastic, poised to push oversold while macd is topping off. Immediate risk calls for furthewr weakness possibly forming a double top in 4H charts. Look for a buy on dips to the 1.0438 area the double top breakout point.

EURJPY
Resistance: 106.45 minor / 106.74 minor / 107.12 moderate
Support: 106.13 moderate / 105.69 moderate / 105.27 minor

At the close we have hammer for EURJPY with markets turning around in US trade. Among indicators we now have daily macd’s flat though above the dignal line while stochastic has come-off overbought levels. Note unlike the EURUSD we fell short of seeing the daily EMA lines with the earlier pullback. In the lower time frames we have 4H stochastic poised to push overbought while macd has bottomed out. Hourly charts has a mixed signals with stochastic coming off overbought areas while macd is heading up. We do not have a sense of urgency from the indicators nor intraday price action. As such we prefer waiting for the open of European markets before looking to buy off the 106.13 price point. Alternative entry will be off 105.69.

EURUSD
Resistance: 1.2944 moderate / 1.2968 minor / 1.2999 minor
Support: 1.2915 minor / 1.2880 moderate / 1.2856 minor

With the turn around at the open of New York market we have a hammer in EURUSD from the daily chart with its tail stretching from the daily EMA lines. Among indicators we currently have a mixed view as daily stochastic were coming yesterdays while mac is still heading up. From the lower time frames 4H stochastic is on the rise while macd is bearish. Hourly indicators are also mixed with stochastic heading lower and ,acd’s pointing up. Given the hammer in daily charts we have a bullish bias despite the mixed intraday picture. For the moment we want to get a clear close above 1.2944 for a possible buy and a run to the swing highs.

Click here to read the full article.

November 29th, 2012 @ 1:42 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push lower but found a good support around 1.2885 and hit 1.2951 earlier today. The bias remains neutral in nearest term. Immediate resistance is seen around 1.2950. A clear break above that area could trigger further bullish pressure testing 1.3000/50 region. Immediate support remains around 1.2885. A clear break below that area could trigger further bearish pressure testing 1.2850/00 region. My medium/long term outlook remains neutral/unclear.

Click here to read the full article.

November 29th, 2012 @ 1:36 am by Setyo Wibowo

Click here to read the full article.

GBPUSD Forecast
The GBPUSD attempted to push lower yesterday but found a good support around 1.5965 and back above 1.6000 earlier today. There are no changes in my technical outlook. The bias remains neutral in nearest term. As long as stays below the trend line resistance the bearish scenario should remain intact. Immediate resistance is seen around 1.6025. A clear break above that area could trigger further bullish pressure testing 1.6050 – 1.6100. Immediate support remains around 1.5965. A clear break below that area could trigger further bearish pressure testing 1.5925/00.

Click here to read the full article.

Our Global Forex Community

Follow us on Twitter! Join us on Facebook! Watch us on YouTube! Stumble Us!

Advertising

Next Free Forex Webinar

Free Market Commentaries

Advertising

Blog Archive

Forex Links

Educational Partners

The Geek Knows
AgriMoney.com
Traders' Magazine

Finance Blogs Blogarama - The Blog Directory