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2014 May

May 7th, 2014 @ 3:11 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD had a bullish momentum yesterday topped at 1.6995. The bias is bullish in nearest term testing 1.7000 – 1.7050 area or higher. Immediate support is seen around 1.6950. A clear break below that area could lead price to neutral zone in nearest term testing 1.6900 or lower but overall I still prefer a bullish scenario at this phase.

gbpusddaily

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May 7th, 2014 @ 3:08 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bearish momentum yesterday bottomed at 101.48. Price is now testing the trend line support as you can see on my daily chart below. A clear break below the trend line support would be a threat to the major bullish scenario. The bias remains bearish in nearest term testing 101.30. A clear break and daily close below that area could trigger further bearish scenario testing 100.80 support area or lower. Immediate resistance is seen around 102.20. A clear break above that area could lead price to neutral zone in nearest term testing 102.70 and might give the bullish scenario another chance.

usdjpydaily

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May 7th, 2014 @ 3:03 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had a bearish momentum yesterday bottomed at 0.8719. The bias is bearish in nearest term testing 0.8700 or lower. Immediate resistance is seen around 0.8760. A clear break above that area could lead price to neutral zone in nearest term testing 0.8800/15 but overall I still prefer a bearish scenario at this phase.

usdchfhourly

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May 6th, 2014 @ 2:38 am by Setyo Wibowo

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EURUSD Forecast        

The EURUSD didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term probably with a little bullish bias testing 1.3900. Important intraday range to be closely watched remains between 1.3900 – 1.3780. A clear break above 1.3900 could trigger further bullish pressure testing 1.4000 as a part of the ascending triangle bullish scenario on daily chart. On the other hand, a clear break below 1.3780 could trigger further bearish pressure testing 1.3750 – 1.3700.

eurusdhourly

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May 6th, 2014 @ 2:34 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Important intraday range to be closely watched is seen between 1.6920 – 1.6820. A clear break above 1.6920 could trigger further bullish pressure testing 1.7000. On the downside, a clear break back below 1.6820 could trigger further bearish pullback but overall I still prefer a bullish scenario at this phase.

gbpusddaily

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May 6th, 2014 @ 2:29 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY was indecisive yesterday. The bias remains bearish in nearest term testing 101.80 – 101.30 and the trend line support as you can see on my daily chart below. Immediate resistance remains around 102.30. A clear break above that area could lead price to neutral zone in nearest term retesting 103.00 area. As long as stays above the trend line support, my overall technical outlook remains bullish.

usdjpydaily

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May 6th, 2014 @ 2:25 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF didn’t make significant movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 0.8740. Immediate resistance remains around 0.8815. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.8870 I still prefer a bearish scenario at this phase.

usdchfhourly

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May 5th, 2014 @ 2:38 pm by The Geek

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Simultaneous Release at
TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders and readers.

In the previous EUR/USD forecast we noted that the currency pair was bullish for the week. Having said so, it appeared to be struggling to break free of the 1.38 – 1.385 region.

Should the bullish momentum continued, we might be expecting an extended bullish target of 1.4. Any signs of a return of bearish momentum might bring us a possible bearish target of 1.37 followed by 1.35.

20140504-231626.jpg

Technical Analysis

Looking at the EUR/USD weekly chart above we note that the currency pair was bullish for the week. Having said so the price action was not a substantial one.

The currency pair remains near the 1.385 region for now. A continuation of bullish momentum will likely see 1.4 as a possible target. Again do be careful as it is possible that resistance increases as the EUR/USD approaches 1.4.

A bearish correction may bring us a possible bearish target of 1.37 followed by 1.35.

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

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