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2014 May

May 31st, 2014 @ 4:01 pm by The Geek

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Good day forex traders and readers.

In the previous AUD/USD forecast we noted that the currency pair was testing the middle bollinger band and hence we might expect supportive influence.

20140531-234007-85207194.jpg

Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair did indeed encountered a support due to the influence of the middle bollinger band as mentioned in my previous forecast.

In the upcoming week, any bearish return will probably need to overcome the middle bollinger band before any further consideration.

Should the bullish momentum continue, we may be looking at a retest of the strong resistance region of 0.94.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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May 30th, 2014 @ 3:24 am by Setyo Wibowo

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EURUSD Forecast        

The EURUSD was indecisive yesterday. The bias is neutral in nearest term but overall I prefer a bearish scenario at this phase with nearest target seen around 1.3500. Immediate resistance is seen around 1.3650. A clear break above that area could trigger further bullish pressure testing 1.3700 – 1.3720.

eurusddaily

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May 30th, 2014 @ 3:21 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD was indecisive yesterday. The bias is neutral in nearest term but overall I prefer a bearish scenario at this phase with nearest target seen around 1.6655. Immediate resistance is seen around 1.6730 followed by 1.6800.

gbpusdh1

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May 30th, 2014 @ 3:18 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY was indecisive yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term, probably with a little bearish bias testing 101.30 support area, but key support remains around 100.80. Immediate resistance is seen around 101.80 –  102.00. A clear break above that area could trigger further bullish pressure testing 102.50 or higher.

usdjpydaily

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May 30th, 2014 @ 3:04 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF was indecisive yesterday. The bias is neutral in nearest term but overall I prefer a bullish scenario at this phase, especially if price able to make a clear break above 0.9000 psychological level, testing 0.9100 or higher. Immediate support remains around 0.8920.

usdchfhourly

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May 29th, 2014 @ 1:39 am by Setyo Wibowo

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EURUSD Forecast        

The EURUSD had a bearish momentum yesterday bottomed at 1.3587. The bias is bearish in nearest term testing 1.3550 – 1.3500. Immediate resistance is seen around 1.3610. A clear break above that area could lead price to neutral zone in nearest term testing 1.3650 but overall I prefer a bearish scenario at this phase.

eurusddaily

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May 29th, 2014 @ 1:36 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD had a bearish momentum yesterday bottomed at 1.6696. Price broke below the triangle as you can see on my hourly chart below. The bias is bearish in nearest term testing 1.6655 area. Immediate resistance is seen around 1.6730. A clear break above that area could lead price to neutral zone in nearest term testing 1.6780 but overall I prefer a a bearish scenario at this phase.

gbpusdh1

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May 29th, 2014 @ 1:33 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had another indecisive movement yesterday. The bias remains neutral in nearest term, probably with a little bearish bias testing 101.30 support area. Immediate resistance is seen around 102.00. A clear break above that area could trigger further bullish pressure testing 102.50 or higher.

usdjpydaily

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