Forex Academy Quick Links:
Language:
English

2015 June

June 30th, 2015 @ 8:55 pm by Muhammad Azeem

Click here to read the full article.

gTrend is bullish in 4 hours chart of GBP/USD currency pair. Since yesterday, price is moving down and this looks like a Wave 4 pull back. Support is present at 1.5440 price level and as long as price is staying above 1.5440 support level the bullish Elliott wave forecast remains valid.

Price is probably going to resume an up trend in next coming trading days. If bearish candlestick closes below 1.5440 critical support level then bullish trend is going to end. Henceforth, I may jump at the chance to stay out of the market and re-inspect the price action.

Click here to read the full article.

June 30th, 2015 @ 3:29 am by William Gilday

Click here to read the full article.

Screen Shot 2015-06-30 at 08.13.41

Hello traders welcome back good to be with you as we come to the end of the month. I picked this pair because it is a counter trend trade as the daily chart is bullish and the 1 hour is bearish. OK let us take a look at it GBPUSD- This is the 1 hour chart.This pair remains bullish on the daily and the current chart. We have placed a trend line on the chart and you can see that we are below the daily pivot on this candle so I would like to short this. My concern is this pair has been bullish for some time now and we have to be alert to data as this could just bounce and head back up. The other issue is that if you look left of the chart we have a lot of forex junk to deal with, this is not a wide open space as we would like. The issue continues to be Greece and every person in politics running there mouth and when they do the currency pairs are moving all over the place. Very hard to make a good trade entry just makes us have more risk and we sure do not want that. So i am hopeful that today we will settle dowm but I do not see that as Greece is not going to pay there debt to the IMF today. It is going to be a rocky day I would say.

Click here to read the full article.

June 30th, 2015 @ 12:08 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast    
The EURUSD had a strong bullish momentum yesterday, not just filled the gap but topped at 1.1277 and move back above the h1 EMA 200 as you can see on my hourly chart below. This fact turns my major technical outlook into a neutral condition and activates my wait and see mode. The bias is bullish in nearest term testing 1.1300 area. From a longer term perspective, 1.1380 – 1.1465 area remains a good place to sell. Greece crisis, news and headlines is likely to keep being the main catalyst this week.

eurusdhourly

Click here to read the full article.

June 30th, 2015 @ 12:05 am by Setyo Wibowo

Click here to read the full article.

GBPUSD Forecast
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Potential daily range is seen between 1.5800 – 1.5650. Overall I still prefer a bullish scenario at this phase but need a clear break back above 1.5800 to give the bullish scenario another chance targeting 1.6000 region. On the downside, a clear break below 1.5650 could trigger further bearish pressure testing 1.5600 or lower.

gbpusdh1

Click here to read the full article.

June 30th, 2015 @ 12:03 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast
The USDJPY was indecisive yesterday. The bias is neutral in nearest term probably with a little bullish bias testing 123.00/50 area. I have made some adjustments  to the pennant formation as you can see on my h4 chart below. As long as stays above 122.00 I still prefer a bullish scenario at this phase.

usdjpy4h

Click here to read the full article.

June 30th, 2015 @ 12:01 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF had a strong bearish momentum yesterday bottomed at 0.9242. The bias is bearish in nearest term testing 0.9200 – 0.9150 area. Immediate resistance is seen around 0.9310. A clear break above that area could lead price to neutral zone in nearest term. Key resistance remains around 0.9420. My major technical outlook remains neutral.

usdchfhourly

Click here to read the full article.

June 29th, 2015 @ 6:43 pm by Muhammad Azeem

Click here to read the full article.

aud-usdAs I have suggested past week during my daily Live trading room session, AUD/USD 4 hours chart bearish price break out is just a head fake pattern. So, all those Forex traders who have followed the Elliott wave analysis and took a buy have made the right decision – the price has moved up after creating a false spike at 0.7597 support level. Key resistance level is present at 0.7848 price level and I am now looking for a bullish price action in coming trading days towards 0.7800, round number.

Be sure to check out daily Forex market updates via Live Trading Room. In my judgment, market is now in the process to complete bullish Wave C leg and overall I expect choppy price action for the time being on four hours chart of AUD/USD currency pair.

Which means price is most likely going to remain sideways and after that it is going to resume the down trend. The corrective bullish pull back pattern offers a sell trade setup to join the upcoming bearish leg. However; if price is going to break above 0.7848, key resistance level instead of going down then I would prefer to stay out of the market and re-analyze the price action.

Want to know how to use this data for your trades?
Join us daily in the Live Trading Room and watch us analyzing the live Forex market in real time – and opening positions right before your eyes.”

Click here to read the full article.

June 29th, 2015 @ 3:21 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast    
The EURUSD gapped lower earlier today hit 1.0952. The bias is bearish in nearest term testing 1.0900. Immediate resistance is seen around 1.1050. A clear break above that area could trigger further bullish pressure filling the gap testing 1.1130 region but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

eurusdhourly

Click here to read the full article.

Our Global Forex Community

Follow us on Twitter! Join us on Facebook! Watch us on YouTube! Stumble Us!

Advertising

Next Free Forex Webinar

Free Market Commentaries

Advertising

Blog Archive

Forex Links

Educational Partners

The Geek Knows
AgriMoney.com
Traders' Magazine

Finance Blogs Blogarama - The Blog Directory