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2013 April

April 10th, 2013 @ 4:29 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD regained its bullish momentum yesterday topped at 1.5340. The bias is bullish in nearest term especially if price able to make a clear break above 1.5360 testing 1.5400 or higher. Immediate support is seen around 1.5300. A clear break below that area could lead price to neutral zone in nearest term testing 1.5250/00. My major outlook remains bearish but price is still in a bullish correction phase.

gbpusdweeklychart

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April 10th, 2013 @ 4:26 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had another indecisive movement yesterday. Price is moving sideways after the strong bullish momentum last week suggests a consolidation phase. The bias remains bullish in nearest term testing 100.00. Immediate support remains around 98.80/50. A clear break below that area could lead price to neutral zone in nearest term testing 98.00 but any downside pullback now is normal and overall I remain bullish.

usdjpydaily

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April 10th, 2013 @ 4:22 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another indecisive movement yesterday. The bias remains bearish in nearest term testing 0.9300 – 0.9250. Immediate resistance remains around 0.9350/60. A clear break above that area could lead price to neutral zone in nearest term testing 0.9400/20 area. My major technical bias is neutral.

usdchfdaily

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April 10th, 2013 @ 3:09 am by Mark De La Paz

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AUDUSD
AUDUSD 4-Hour ChartResistance: 1.0497(00) strong / 1.0525 minor / 1.0577 moderate
Support: 1.0468 minor / 1.0447 minor / 1.0423 moderate

Aussy saw a two day rally from the 38.2 Fib of the rally for March with prices taking a peak above the 1.0500 area in intraday action. Daily indicators has macd bottoming out nearing a bullish cross while stochastic has also crossed higher. Note we are set to close the days candle just under the strong resistance level at 1.0497(00). In the 4H picture we have a shooting star from the previous candle though stochastic continues to crawl in overbought levels and macd is pushing up. Hourly charts for their part has macd’s with a new bear cross and stochastic poised to push oversold. Given the latter and the strength of our immediate resistance initial risk calls for a pullback to the 1.0447 area, 38.2 Fib of the rally for the last two days. Given the overall trend a close above 1.0497(00) in the hourly charts would still mean we look for a rally.

GBPUSD
GBPUSD 4-Hour ChartResistance: 1.5341 minor / 1.5364 minor / 1.5422 strong
Support: 1.5314 minor / 1.5288 minor / 1.5262 strong

Tuesday saw Cable bouncing off the previous weeks breakout point following the monday pullback. We are set to close the daily candle back above the 55D EMA while stochastic is overbought and macd rising. From the lower time frames we have a ‘shooting star’ in the 4H candles with a lower high than Fridays opening the possibility of a double top. Indicators has stochastic having trouble in pushing overbought while macd as well is stuck just about to see a bullish crossover. Hourly charts for their part already has a confluence of bears with stochastic poised to push oversold and macd crossing lower just now. Immediate risk calls for a pullback to at least form the 4-Hour double top though we think Cable well supported. We prefer look for buys off the 15263, ideally 1.5237, 38.2 Fib and double top trigger. Aggressive shorts may be taken on a close below 1.5314.

EURUSD
EURUSD Daily ChartResistance: 1.3113 strong / 1.3161 moderate / 1.3227 minor
Support: 1.3075 minor / 1.3028 minor / 1.2972 moderate

Euro rallied Tuesday to see the 38.2 Fib retracement level of our sell-off from February 1, 1.3710. We now have prices above the daily EMA lines while stochastic is overbought and macd is rising. Intraday we have a pattern of spike and congestion in the 4H candlesticks while stochastic at the moment is re-entering overbought areas and macd is flat though still above the signal line. Hourly charts for their part has mixed signals with stochastic coming off oversold levels while macd is poised to cross lower. For the moment there is no sense of urgency with price action merely suggesting a loss of momentum. As such we prefer remaining sidelined though an hourly close below 1.3075 may be seen as a bearish entry. Alternatively look for a rejection off the 38.2 Fib at 1.3113 going into the European open.

USDJPY
USDJPY 4-Hour ChartResistance: 99.34 minor / 99.66 minor / 100.00 psychological
Support: 98.99 minor / 98.57 minor / 97.84 moderate

Tuesday saw USDJPY pulling back to turn-out a hanging man near the close of the daily candle. Indicators see an overbought stochastic while macd is also heading up. Note we have had an 800 pip rally in USDJPY ever since the unveiling of a massive QE program by the BoJ last week. From the 4H picture we have a series of indecision candles while indicators show a bullish stochastic and bearish macd. Hourly charts for their part has macd’s poised to open lower while stochastic may be crossing up, for more indecision. For the moment we prefer remaining sidelined though a break of 98.57 should be a sell signalling a pullback following our huge rally. Consider shorts off the 100.00 psychological resistance level with tight stops above the area.

EURJPY
EURJPY Daily ChartResistance: 130.00(10) psychological / 130.99 minor / 131.89 minor
Support: 129.37 minor / 128.41 minor / 127.39 minor

At the close we have a high wave doji in daily candles for EURJPY signalling a loss of momentum after a 1000 pip rally over the last four days. From indicators we have daily stochastic in overbought levels while macd is also rising. From the lower time frames however we are starting to see a bear market with a bearish divergence in stochastic and macd’s crossing lower. Hourly charts as well has sell signals with stochastic heading lower and macd’s opening down. Because of the extent of recent gains and the loss of momentum we prefer a sell-on rallies approach from just under 130.00(10) with stops well above the region while a break of 12937 is also a bearish entry.

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April 9th, 2013 @ 5:44 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD didn’t make significant movement yesterday but overall still able to maintain its bullish short term bias. Price slipped above the bearish channel and hit 1.3065 earlier today. This fact interrupts the bearish outlook. My major technical outlook is now neutral as price might be looking for a new direction but nearest term bias remain bullish especially if price able to make a consistent movement above 1.3050 testing 1.3100 – 1.3130/50. Immediate support is seen around 1.3000. A clear break below that area could lead price to neutral zone in nearest term testing 1.2950/00 and could give the bearish scenario another chance.

eurusddaily

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April 9th, 2013 @ 5:41 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD failed to continue its bullish momentum yesterday bottomed at 1.5239. The bias is neutral in nearest term. My major outlook remains bearish but price is still in a bullish correction phase with nearest bullish target seen around 1.5400. Immediate support is seen around 1.5200. A clear break below that area could trigger further bearish pressure testing 1.5100 region.

gbpusdweeklychart

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April 9th, 2013 @ 5:38 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday but overall still able to maintain its bullish bias. The bias remains bullish in nearest term testing 100.00. Immediate support is seen around 98.80/50. A clear break below that area could lead price to neutral zone in nearest term testing 98.00 but any downside pullback now is normal and overall I remain bullish.

usdjpydaily

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April 9th, 2013 @ 5:35 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday but overall still able to maintain its bearish short term bias. The bias remains bearish in nearest term testing 0.9300 – 0.9250. Immediate resistance is seen around 0.9350/60. A clear break above that area could lead price to neutral zone in nearest term testing 0.9400/20 area. My major technical bias is neutral.

usdchfdaily

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