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2016 August

August 31st, 2016 @ 9:48 pm by Muhammad Azeem

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eur-jpy-4hTrend is bearish in four hours chart. Critical resistance is present at 118.44 price level. The price of EUR/JPY currency pair has moved up and it looks like we are getting a bearish Double Zig Zag Corrective Elliott wave pattern.

As the trend is still down so, it is a good idea to look for a sell trade and join the down trend. However; if market close a bullish candlestick above 118.44 resistance area then bearish trend will end. In such case, I will stop myself from trading and re-analyze the price chart of EUR/JPY currency pair.

 

See the attached screen shot image of EUR/JPY 4 hours chart.

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August 31st, 2016 @ 3:05 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a moderate bearish momentum yesterday bottomed at 1.1132. The bias remains bearish in nearest term testing 1.1100 before targeting 1. 1.1000. Immediate resistance is seen around 1.1180. A clear break above that area could lead price to neutral zone in nearest term but only a clear break back above 1.1250 would interrupt the bearish phase since fell from 1.1350 region. My major technical outlook remains neutral.

eurusdhourly

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August 31st, 2016 @ 3:01 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. The bias remains bearish in nearest term but we need a clear break below 1.3050 to continue the bearish scenario testing 1.2950. Immediate resistance is seen around 1.3120. A clear break above that area could lead price to neutral zone in nearest term testing 1.3200 region but as long as stay below 1.3500 my major technical outlook remains bearish.

gbpusdh1

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August 31st, 2016 @ 2:58 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 103.13 and hit 103.22 earlier today. The bias is bullish in nearest term testing 104.00. Immediate support is seen around 102.50. A clear break below that area could lead price to neutral zone in nearest term testing 102.00 or lower. Overall I remain bearish.

usdjpyhourly

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August 31st, 2016 @ 2:54 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bullish momentum yesterday topped at 0.9844. The bias is bullish in nearest term testing 0.9900 – 0.9950 area which remains a good place to sell with a tight stop loss. Immediate support is seen around 0.9800. A clear break below that area could lead price to neutral zone in nearest term testing 0.9750 region. My major technical outlook remains neutral.

usdchfdaily

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August 31st, 2016 @ 1:23 am by William Gilday

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Screen Shot 2016-08-31 at 06.54.55

Hello traders we are looking today at the EURUSD one of my favorite trading pairs as most times this trades 140 pips per day. The chart to me looking to start a bearish move. I am looking to enter this now at the price level of 1.4825 and sell this I would expect this to move very well as we have plenty of data today to keep price action moving. I am looking to take profit at the support at the price level of 1.4729 for some nice profits.

Thank you traders and we will talk soon….William

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August 30th, 2016 @ 2:36 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD was indecisive yesterday but overall still able to maintain its bearish intraday bias so far. Price is now struggling around 1.1180 support area (daily EMA 200). The bias remains bearish in nearest term testing 1.1100 before targeting 1.1000. Immediate resistance remains around 1.1250. A clear break and daily close back above that area could trigger further bullish pressure retesting 1.1350 region. My major technical outlook remains neutral.

eurusdhourly

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August 30th, 2016 @ 2:34 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday but overall still able to maintain its bearish bias. The bias remains bearish in nearest term testing 1.3050 – 1.3000 area. Immediate resistance is seen around 1.3138 (yesterday’s high). A clear break above that area could lead price to neutral zone in nearest term testing 1.3200 or higher. On the downside, a clear break and daily close below 1.3050 – 1.3000 would expose 1.2950 and 1.2865. Overall, as long as stay below 1.3500 my major technical outlook remains bearish.

gbpusdh1

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