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2013 May

May 31st, 2013 @ 6:20 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bullish momentum yesterday topped at 1.3060. As you can see on my daily chart below price slipped above a bearish channel. The bias remains bullish in nearest term testing 1.3100 – 1.3200. Immediate support is seen around 1.3025. A clear break below that area could lead price to neutral zone in nearest term testing 1.2950/00. My daily chart technical outlook is unclear but my intraday outlook is now bullish. Weekly chart bearish outlook remains intact, with key resistance around 1.3200.

eurusddaily

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May 31st, 2013 @ 6:16 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.5239. The bias remains bullish in nearest term testing 1.5300. I still prefer a bearish scenario at this phase but a clear break and daily/weekly close above 1.5300 will interrupt the bearish scenario, turn my short term/intraday outlook to a bullish view testing 1.5400. Immediate support is seen around 1.5200. A clear break below that area could lead price to neutral zone in nearest term testing 1.5150/00.

gbpusddaily

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May 31st, 2013 @ 6:12 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term. Key support is seen around 100.50. A clear break and daily/weekly close below that area could trigger further bearish momentum testing 99.90 or lower. On the upside, key intraday resistance is seen around 101.80 which needs to be clearly broken to the upside to give the bullish scenario another chance.

usdjpydaily

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May 31st, 2013 @ 6:05 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bearish momentum yesterday bottomed at 0.9524. The bias remains bearish in nearest term especially if price able to make a clear break below 0.9520 testing 0.9400 area. Immediate resistance is seen around 0.9565. A clear break above that area could lead price to neutral zone in nearest term testing 0.9600/50 but overall I still prefer a bearish intraday scenario at this phase.

usdchfdaily

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May 31st, 2013 @ 1:40 am by Mark De La Paz

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EURUSD
EURUSD Daily ChartResistance: 1.3062 minor / 1.3090 moderate / 1.3113 minor
Support: 1.3031 moderate / 1.2994 moderate / 1.2972 minor

Euro managed to push past the daily EMA lines Thursday with across the board dollar dumping ahead of the month end. From indicators we now have stochastic pushing overbought while the macd is also heading up. With the push past daily EMA lines we could see pressure for further gains mount. In the lower time frames we are seeing mixed signals. We have the 4H stochastic crossing up into overbought levels once more and macd rising even as price action forms a flag. Hourly charts for their part has macd heading lower and stochastic at oversold levels. For now immediate risk is for further gains at least to 1.3113, 38.2 Fibm of the years sell-off so far. In the long run however we view any rally as a possible short, looking forward to trigger a head and shoulder pattern in the weekly charts.

NZDUSD
NZDUSD Daily ChartResistance: 0.8109 minor / 0.8140 moderate / 0.8170 minor
Support: 0.8070 moderate / 0.8049 moderate / 0.8000 psychological

Kiwi has been in a congestion the past week, this after a sustained sell-off from earlier in the month. In daily charts we are set to see a long tail for Thursday while indicators show a bullish divergence in stochastic and macd have crossed up. Note we possibly a position squaring trade with the end of the month. In intraday charts we are seeing a mixed view with stochastic heading up while 4H macd is bearish trying to bottom out. Hourly charts has a confluence of buys with macd crossing up and stochastic poised to push into overbought levels. From the calendar we could potentially be seeing a market mover should business confidence remain firm. Look for a bounce off NZDUSD’s 0.8070 our daily pivot or a push through 0.8109 for an entry. The objective for the latter a pullback to the 21D EMA.

AUDUSD
AUDUSD Daily ChartResistance: 0.9697 moderate / 0.9729 minor / 0.9767 minor
Support: 0.9648 moderate / 0.9621 moderate / 0.9586 strong

We have a three outside up bullish reversal pattern in the daily candlestick with Wednesday’s engulfing candle confirmed by yesterdays rally in GBPUSD. Among indicators we have stochastic poised to push overbought while macd has also crossed up. Note with the big bear market for the month and this being its final trading day we are looking for a pullback to the daily EMA lines. In intraday charts we have a confluence of buys with 4H stochastic looking to push overbought as macd’s head up. Hourly charts for their part has stochastic trying to cross higher and macd also pointing up. Given all this immediate risk is for a push past 0.9669 a moderate resistance opening the way to mean reversion and the 21D EMA at 0.9800. Alternatively look for a bounce off the daily pivot at 0.9648.

GBPUSD
GBPUSD Daily ChartResistance: 1.5234 moderate / 1.5274 moderate / 1.5321 minor
Support: 1.5191 moderate / 1.5156 moderate / 1.5109 minor

Cable triggered a daily double bottom Thursday with the subsequent rallying taking prices all the way up to the 38.2 Fib retracement level for the month long sell-off. Note we have prices in GBPUSD back inside the daily EMA lines with your immediate resistance being 1.5234, the said Fib retracement. Our immediate support is the daily pivot. Daily indicators has stochastic pushing overbought and macd heading up. In the lower time frames we are seeing a confluence of buys with stochastic in overbought levels and macd rising. Hourly charts are heading the other way with sell signals in stochastic and a new bear cross in macd. For the moment the mixed signals in intraday charts and considerable resistance and support levels suggests the prudent course of action is to remain sidelined. That said we are still a buyer on a push past 1.5234 though take too long and we may consider shorts from 1.5234 in European midday trade.

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May 30th, 2013 @ 7:36 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD failed to continue its bearish momentum yesterday and hit 1.2984 earlier today. Price has been moving sideways without clear direction and momentum this week. The bias is bullish in nearest term testing 1.3000/30 key resistance area. I still prefer a bearish scenario but a clear break and daily close above 1.3000 could be a threat to the bearish scenario and turn my short term/intraday technical bias to a bullish mode testing 1.3100 – 1.3200. Immediate support is seen around 1.2925. A clear break below that area could lead price to neutral zone in nearest term testing 1.2850/00.

eurusddaily

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May 30th, 2013 @ 7:33 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD failed to continue its bearish momentum yesterday and hit 1.5184 earlier today. The bias is bullish in nearest term testing 1.5200 – 1.5250. Immediate support is seen around 1.5100. A clear break below that area could lead price to neutral zone in nearest term testing 1.5050/00. I still prefer a bearish scenario at this phase but price has been moving sideways without clear direction and momentum this week.

gbpusddaily

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May 30th, 2013 @ 7:30 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY failed to continue its bullish momentum yesterday and hit 100.45 earlier today. The bias is bearish in nearest term. I still prefer a bullish scenario but a consistent movement/daily close below 100.50 could trigger further bearish pullback testing 100.00 or lower and turn my short term/intraday technical bias to a bearish mode. Immediate resistance is seen around 101.30. A clear break and daily close above that area would give the bullish scenario another chance.

usdjpydaily

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