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2016 August

August 1st, 2016 @ 11:59 pm by Setyo Wibowo

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USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. The bias remains bearish in nearest term testing 101.50. Immediate resistance is seen around 102.75. A clear break above that area could lead price to neutral zone in nearest term testing 103.50 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 101.50 could trigger further bearish pressure testing 100.00 – 98.80 region.

usdjpyhourly

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August 1st, 2016 @ 11:53 pm by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. The bias remains bearish in nearest term testing 0.9570 and the trend line support as you can see on my daily chart below, which is a good place to buy with a tight stop loss. Immediate resistance is seen around 0.9715. A clear break above that area could lead price to neutral zone in nearest term testing 0.9770 area. My major technical outlook remains neutral.

usdchfdaily

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August 1st, 2016 @ 6:49 pm by Muhammad Azeem

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8-1-2016 11-13-36 PMTrend is bullish in USD/JPY currency pair, 4 hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down on a short term basis to complete bearish wave 4 leg which is part of a larger version of a Bullish Expanding Leading Diagonal pattern and traders should look for a short trade.  So, all those Forex traders who have followed the analysis have made the right decision as the price has descended. Strong key support level is present at 100.00 price level which is also a round number.

Be sure to check out daily Forex market updates via Live Trading Room. In my judgement, round number support usually works quite well and price action in USD/JPY is now going to rise back up towards 109.20 price level to complete bullish Wave 5, in coming trading days.

 

Currently; Wave 4 pattern looks complete and price action offers a possible Buy trade setup to join an up trend. However; if price of USD/JPY currency pair breaks below 100.00 critical support level then I might like to stay out of the market and re-examine the four hours chart of USD/JPY currency pair.

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August 1st, 2016 @ 5:19 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bullish momentum last week topped at 1.1197. The bias is bullish in nearest term testing 1.1200 key resistance which is a good place to sell with a tight stop loss. Immediate support is seen around 1.1150. A clear break below that area could lead price to neutral zone in nearest term testing 1.1100 or lower. On the upside, a clear break and daily close above 1.1200 would activate my wait and see mode as direction would become unclear testing 1.1400 region this week.

eurusddaily

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August 1st, 2016 @ 4:21 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had another indecisive movement last week. As you can see on my H1 chart below, price has been moving sideways without clear direction, but my major technical outlook remains bearish. The bias is bullish in nearest term testing 1.3330. A clear break and daily close above that area could trigger further bullish pressure testing 1.3480 area but any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 1.3200. A clear break below that area could lead price to neutral zone in nearest term testing 1.3150 or lower.

gbpusdh1

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August 1st, 2016 @ 4:07 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bearish momentum last week bottomed at 101.97. The bias is bearish in nearest term testing 101.50. Immediate resistance is seen around 102.75. A clear break above that area could lead price to neutral zone in nearest term testing 103.50 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break and daily close below 101.50 could trigger further bearish pressure testing 100.00 – 98.80 region.

usdjpyhourly

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August 1st, 2016 @ 3:58 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum last week after broke below the bullish channel as you can see on my daily chart below, bottomed at 0.9635. The bias is bearish in nearest term testing 0.9570. Immediate resistance is seen around 0.9715. A clear break above that area could lead price to neutral zone in nearest term testing 0.9770 area. My major technical outlook remains neutral.

usdchfdaily

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August 1st, 2016 @ 1:29 am by William Gilday

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Screen Shot 2016-08-01 at 07.16.05

Hello traders good to be with you on this Monday August 1st and the start of a new month. Just a note we are filled with data in all sessions today so please be alert to that. We also see oil is around the 40$ P/B as of the close on Friday.

Today we look at the EURUSD as we can see the trade plan is very easy. Price is at resistance and we are looking for a selling opportunity. I would like to see price break below the daily pivot point and the 55 ema. I am looking to enter at the price level of 1.1135 after some conformation. I am looking to take profit at the support of the S2 pivot at the price level of 1.1024. This is a very simple trade plan as we have data all day we just need to be patient and let price action to us for the entry.

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

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