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2013 February

February 28th, 2013 @ 8:15 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD was corrected higher yesterday, broke above 1.3120 and hit 1.3160. The bias is bullish in nearest term testing 1.3170 – 1.3200/20. I still prefer a bearish scenario at this phase but need a clear break and daily close below 1.3000 and the EMA 200 to continue the bearish scenario. Immediate support is seen around 1.3100 – 1.3090. A clear break below that area could lead price to neutral zone in nearest term testing 1.3050/00. On the upside, a clear break and daily close above 1.3200/20 could trigger further bullish pressure testing 1.3300 area.

eurusddaily

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February 28th, 2013 @ 8:14 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. The bias is neutral in nearest term. Important intraday range to be closely watched is seen between 1.5070 – 1.5220. We need a clear break from that range area to see clearer direction. Overall I still prefer a bearish scenario with sell on rallies strategy.

gbpusdweeklychart

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February 28th, 2013 @ 8:13 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had another indecisive movement yesterday. The bias remains neutral in nearest term. I still prefer a bullish scenario but need a clear break and daily close above 92.70 – 93.00 to keep the bullish scenario remains strong testing 94.00 – 95.00 area or higher. Immediate support is seen around 91.90. A clear break below that area could trigger further bearish pressure testing 91.50/00.

usdjpydaily

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February 28th, 2013 @ 8:11 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum yesterday bottomed at 0.9279. The bias is bearish in nearest term testing 0.9250/00. Selling around the upper line of the bearish channel remains a good idea with a tight stop loss above 0.9350 as a clear break and daily close above that area could be an early signal of a bullish reversal scenario testing 0.9420 or higher.

usdchfdaily

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February 28th, 2013 @ 2:07 am by Mark De La Paz

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AUDJPY
EURJPY 4-Hour ChartResistance: 95.00 moderate / 95.55 minor / 95.98 minor
Support: 94.56 minor / 94.09 minor / 93.52 minor

AUDJPY has seen two consecutive hammers the past two days suggesting that the sell-side is losing steam. Among indicators we have daaily stochastic beginning to cross up though macd remains bearish. In 4H charts we have a confluence of buys with macd crossing up and stochastic overbought. Hourly charts has stochastic oscillating around 80 while macd is pushing up. For now we have prices just around the 50 fib area of the sell-off from monday. Note we are looking for a further surge up following the Japanese PM’s announcement of Kuroda as his choice for BoJ governor at 0200GMT. Consider buys above 95.00 on confirmation of a Kuroda appointment.

EURJPY
EURJPY Hourly ChartResistance: 122.25(28) moderate / 122.71(81) moderate / 123.64 minor
Support: 121.22 minor / 120.40 minor / 119.71 minor

With long tails sticking out beneath the 55D EMA for the daily candles this week we have EURJPY surging yesterday following the hammer from Tuesday. Note we could consider this a bounce off the 23.6 Fib area 119.79 for the rally from July last year. Daily stochastic has just crossed up while macd is pointing lower. From the lower time frames we have macd’s crossing up and stochastic pushing overbought in 4H charts. hourly indicators have reentered overbought areas while macd is rising. Price action has an hourly flag pattern triggered at the open of Asian markets. For now we are just waiting to confirm Kuroda’s nomination for BoJ governor a catalyst for weaker Yen given his views on inflation targeting and monetary easing. Look for a buy on dips to 121.22 with averages ranges suggesting a 124.24 target though we expect to be well resisted at 122.28(28) and 122.71(81).

EURUSD
EURUSD Hourly ChartResistance: 1.3160 minor / 1.3203 minor / 1.3265 strong
Support: 1.3120 moderate / 1.3071 minor / 1.3038 minor

The high wave doji from Tuesday in Euro lead to a strong rally yesterday for a morning start in our daily candlesticks. Note we have this bounce off the 38.2 Fib retracement of the rally from July of 2012. Daily indicators has stochastic coming off sharply from oversold territory while macd is bottoming out, with the daily EMAs as our target for the mean reversion though trends have shifted with dead crosses forming. In the lower time frames we have stochastic overbought and macd beginning to push higher in 4H chrts though hourly indicators are mixed as stochastic comes off overbought area while macd remain bullish. At this point the shock of Berlusconi should be passing though the European debt issue is back to fore suggesting no new highs, no new push to the 1.4000 level. We are looking for a buy on dips to 1.3120 or on a push past 1.3160.

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February 27th, 2013 @ 7:55 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Important intraday range to be closely watched is seen between 1.3120 – 1.3000. I prefer a bearish scenario at this phase but need a clear break below the daily EMA 200 and 1.3000 to continue the bearish scenario testing 1.2950/00 or lower. On the upside, a clear break and daily close above 1.3120 could trigger further bullish pressure testing 1.3170 – 1.3200.

eurusddaily

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February 27th, 2013 @ 7:54 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push lower earlier today hit 1.5079. The bias is bearish in nearest term testing 1.5050/00. Immediate resistance is seen around 1.5150. A clear break back above that area could lead price to neutral zone in nearest term testing 1.5220 but overall I still prefer a bearish scenario at this phase with sell on rallies strategy.

gbpusdweeklychart

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February 27th, 2013 @ 7:53 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. I still prefer a bullish scenario but price is still in consolidation phase with potential bearish correction testing 90.20. On the upside, we need a clear break and daily close at least back above 92.70 to keep the bullish scenario remains strong testing 94.00 – 95.00 area or higher.

usdjpydaily

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