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2013 August

August 30th, 2013 @ 8:29 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD continued its bearish momentum yesterday bottomed at 1.3219. The bias remains bearish in nearest term and price is in a critical technical point. A clear break and daily/weekly close below 1.3200 could be an early signal of a bearish reversal scenario testing 1.3000 region. Immediate resistance is seen around 1.3254 (current high). A clear break above that area could lead price to neutral zone in nearest term testing 1.3300. On the upside, 1.3400 remains a key resistance which needs to be clearly broken to the upside to keep the bullish scenario intact.

eurusddaily

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August 30th, 2013 @ 8:26 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD was indecisive yesterday. The bias remains neutral in nearest term. The major bullish scenario remains valid but as long as stays below 1.5550 – 1.5600 price is still in a bearish correction phase. Immediate support is seen around 1.5500 – 1.5480. A clear break below that area could trigger further bearish pressure testing 1.5400 key support area. A clear break and daily/weekly close below 1.5400 would be a threat to the bullish outlook and could be an early signal of a bearish reversal scenario.

gbpusddaily

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August 30th, 2013 @ 8:22 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY continued its bullish momentum yesterday topped at 98.51 but traded lower earlier today hit 97.88. The bias is neutral in nearest term probably with a little bearish bias testing 97.50. Immediate resistance is seen around 98.40/51. A clear break above that area could trigger further bullish pressure testing 99.00 key resistance. A clear break above that area would activate my bullish mode.

usdjpydaily

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August 30th, 2013 @ 8:18 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF continued its bullish momentum yesterday topped at 0.9321. The bias remains bullish in nearest term testing 0.9350. A clear break and daily/weekly close above that area would be a threat to the bearish scenario and could be an early signal of a bullish reversal scenario. Immediate support is seen around 0.9290. A clear break below that area could lead price to neutral zone in nearest term testing 0.9250/00 area.

usdchfhourly

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August 30th, 2013 @ 1:52 am by Mark De La Paz

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AUDUSD
Resistance: 0.8968 moderate / 0.9000 moderate / 0.9031 moderate
Support: 0.8935 minor / 0.8892 moderate / 0.8849 moderate

Aussy continues to indecisive trading with Thursday getting a spinning for a daily candle as ranges continue to tighten. From indicators we also see mixed signals as stochastic show a bullish divergence while macd is heading lower. Note we have Private Sector Credit coming out at 0130GMT with consensus forecast at 0.4%. We will look at the numbers as a catalyst for getting out of the indecisive trading, a read well below consensus should open up the swing lows at 0.8849. Strong figures will be an excuse for mean reversion to the daily EMA lines. Intraday we are seeing a confluence of buys from multiple time frames with hourly stochastic pushing for overbought levels and he 4H coming off oversold areas. Evan as macd see anew bullish crossover in hourly charts and continue to head up in the 4H picture.

GBPUSD
Resistance: 1.5511 moderate / 1.5547 moderate / 1.5592 moderate
Support: 1.5486 moderate / 1.5448 minor / 1.5428 moderate

Given the broadly firmer dollar Cable was unable to get a follow through rally to Wednesday’s hammer and long tail from the 55DEMA lines. Stil we have a fractal pattern now in the daily charts reinforcing the idea of a bullish reversal. Daily indicators however are still mixed with stochastic heading up and macd dropping for the zero line. In 4H charts we have a confluence of buys with stochastic seeing a new bullish crossover and macd heading up though barely above its signal line. Hourly charts for their part has a confluence of buys with stochastic seeing a new bullish cross and macd heading up for the zero line. At the moment we retain a bullish bias for Cable though getting the markets to rally could be difficult given the geopolitical risks we face now. Although we expect Cable to fare better than most majors should US air strikes in Syria happen. Look for a close above 1.5511 as a bullish entry.

USDJPY
Resistance: 98.47 moderate / 98.74 moderate / 99.15 moderate
Support: 98.09 moderate / 97.84 minor / 97.66 moderate

USDJPY rallied past the daily EMA’s Thursday on the back of a follow through for equity indices though we now have the bearish resistance line from July 7 on top of prices. Indicator wise we have a confluence of buys with stochastic heading up and macd looking to push through the zero line. From the 4H level we have mixed signals as stochastic comes off overbought levels while macd is heading up. Hourly charts see a confluence of bears with stochastic poised to push oversold and and macd dropping.  Note price charts show a double top in the daily picture. At the moment we are looking for a close under the daily pivot at 98.09 break of which should see us head back under the daily EMA lines.

EURUSD
Resistance: 1.3265 moderate / 1.3311 moderate / 1.3343 minor
Support: 1.3230 minor / 1.3205 moderate /1.3164 minor

Thursday saw a follow through sell-off in EURUSD as we pushed through he daily EMA lines to close under the 55D EMA after starting above the 21D EMA. We have formed a daily level double top out of the August price action. Among indicators we have stochastic pushing into oversold territory while macd is opening lower some more heading for the zero line. In the lower time frames we candlesticks suggesting lost momentum with a series of spinning top since New York trade. Indicators show stochastic in the 4H picture looking to come-off over sold levels while macd remains bearish. Hourly charts are similarly mixed with stochastic poised to move oversold and macd heading up. For now there is little sense of urgency through triggering the daily double top is an attractive proposition as we are set to close the week with a bearish engulfing and the month with a shooting star. Look for shorts on a break of 1.3205 pattern trigger theoretical target is at 1.2959.

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August 29th, 2013 @ 7:59 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD had a bearish momentum yesterday and hit 1.3260 earlier today. The bias is bearish in nearest term testing 1.3250 – 1.3200 key support area. Price is in a critical technical point now. A clear break and daily close below 1.3250 – 1.3200 would be a threat to the bullish scenario and could be an early signal of a bearish reversal scenario. Immediate resistance is seen around 1.3340/50. A clear break above that area could lead price to neutral zone in nearest term but could give the bullish scenario another chance to retest 1.3400 key resistance area.

eurusddaily

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August 29th, 2013 @ 7:56 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD attempted to push lower yesterday bottomed at 1.5427 but whipsawed to the upside and closed higher at 1.5524. The bias is neutral ini nearest term but as long as stays below 1.5600 price is still in a bearish correction phase. On the downside, key support is seen around 1.5400. A clear break below that area would be a threat to the bullish outlook and could be an early signal of a bearish reversal scenario.

gbpusddaily

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August 29th, 2013 @ 7:53 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY failed to continue its bearish momentum yesterday and hit 98.24 earlier today. The bias is bullish in nearest term but as long as stays below 99.00 I still prefer a bearish scenario at this phase. Immediate support is seen around 97.50. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong testing 96.80 or lower.  On the upside, a clear break above 99.00 would activate my bullish mode.

usdjpydaily

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