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2016 January

January 31st, 2016 @ 3:54 pm by The Geek

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Full Release at TheGeekKnows.com Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.
Good day forex readers.

In the previous AUD/USD forecast we noted that the currency pair was testing the support of 0.6950 and dipped further. The bollinger bands continued to play an important role.

In the previous EUR/USD forecast we noted that the range of the EUR/USD was tight for a number of weeks. As long as the currency pair fails to successfully clear the middle bollinger band, the bearish momentum cannot be considered to be over. Again we should look at the usual figures of 1.08 and 1.12. The upper and lower bollinger bands could be possible support and resistance regions.

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Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair is recovering and it tried to test the middle bollinger band. I would be mindful of the lower and middle bollinger bands as they might serve as immediate support and resistance levels.

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Don’t miss the full forecast. Continue on to TheGeekKnows.com for the full technical analysis and the fundamental analysis of the AUD/USD EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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January 29th, 2016 @ 5:09 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bullish momentum yesterday topped at 1.0967. Price attempted to push lower earlier today hit 1.0882 but recovered quickly and traded around 1.0930 at the time I wrote this comment. The bias is bullish in nearest term testing 1.0969 which remains a good place to sell with a tight stop loss as a clear break and daily close above that area could trigger further bullish pressure testing 1.1060 and the trend line resistance as you can see on my H4 chart below. Immediate support is seen around 1.0900. A clear break below that area could lead price to neutral zone in nearest term testing 1.0850 area or lower. As long as stays below the trend line resistance I still prefer a bearish scenario at this phase with sell on rallies strategy.

eurusdh4

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January 29th, 2016 @ 5:07 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.4407. Price is now struggling around 1.4365 key resistance,  a critical phase for this pair. The bias is bullish in nearest term testing 1.4400 – 1.4500. Immediate support is seen around 1.4330. A clear break below that area could lead price to neutral zone in nearest term testing 1.4280 or lower. My major technical outlook remains bearish but need a clear break at least back below 1.4200 to potentially end the current bullish correction phase.

gbpusdh1

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January 29th, 2016 @ 5:00 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a strong bullish momentum earlier today hit 121.41 after BOJ decision to adopt a negative interest rate policy but fell quickly traded around 119.70 at the time I wrote this comment. Overall my major technical outlook remains bearish but I will stand aside for now and wait for further development next week. A weekly close above 120.00 (daily EMA 200) could trigger further bullish pressure retesting 121.41 area or higher. On the other hand, a weekly close below 120.00 would give the bearish scenario another chance.

usdjpydaily

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January 29th, 2016 @ 4:52 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF attempted to push higher earlier today hit 1.0222 but quickly fell to the downside and traded around 1.0145 at the time I wrote this comment. The bias is neutral in nearest term but as long as stays above the trend line support I remain bullish targeting 1,0325. Immediate support is seen around 1.0120 followed by 1.0070.

usdchfh4

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January 29th, 2016 @ 2:56 am by William Gilday

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Screen Shot 2016-01-29 at 07.32.52

Hello traders welcome to a new day as we approach the end of the week. Traders I just looked at all the charts and there is some trades but nothing easy. Be aware that we have a BOJ press conference that I feel is the big one for today. We also have a lot of high impact data in the U.S session not easy today traders on a Friday………

OK traders let us take a look as I feel with today and the BOJ press conference could be a possible issue so this is the plan on the EURJPY- This is another 30 Minute chart. Well today if we look at the daily chart this pair is very bearish and this is not an easy pair to trade due to all the data and today we have a BOJ press conference in london session. I have a trend line trade today as my bias remains bearish. Break the trend line with a retest and we can enter this trade at the price of 129.80. I am looking to take profit at the price of 128.90 at the 200 ema.

Thank you traders and we will talk soon…..William

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January 28th, 2016 @ 3:28 am by William Gilday

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Screen Shot 2016-01-28 at 06.46.10

Hello traders welcome to a new day as we get ready for another big trading day. Traders I have noticed the Fed made there statement yesterday and what I read is the market did not see a strong direction on either side. So the Fed was neutral and a march rate hike not in the picture were seen from the statement. Well I looked at the charts and we look to have a good day ahead with moderate data today.

OK let us take a look at the EURUSD- This is the 30 Minute chart. Today we are looking at a chart that come back up to the resistance from yesterday and is really all over the place. Traders do not lose focus as we are still in a bearish market look at the daily chart, my bias remain short this pair. You can enter this pair now at the price of 1.0898 with a bearish candle with conformation. I am looking to take profit at the 200 ema at the price of 1.0859

Thank you traders and talk with you soon…..William

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January 27th, 2016 @ 11:52 pm by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had another indecisive movement yesterday but overall still able to maintain its bullish intraday bias topped at 1.0916. The bias remains bullish in nearest term testing 1.0969 which remains a good place to sell with a tight stop loss. Immediate support is seen around 1.0860. A clear break below that area could lead price to neutral zone in nearest term testing 1.0800 but key support remains around 1.0700 which also remains a good place to buy as price has been moving sideways without a clear direction for almost two months now. On the upside, a clear break above 1.0969 could trigger further bullish pullback testing 1.1060 and the trend line resistance. As long as stays below the trend line resistance I still prefer a bearish scenario at this phase with sell on rallies strategy.

eurusdh4

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