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2016 October

October 31st, 2016 @ 7:55 pm by Muhammad Azeem

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11-1-2016 12-48-54 AMTrend is bearish in GBP/USD currency pair in 1 hour time frame. Short term resistance is present at 1.2271 price level. Based on Elliott wave anlaysis, we got a bullish a, b and c corrective zig zag pattern which looks complete.

A good idea is to take a sell trade and join the down trend to ride and trade bearish Wave (3) leg. However; if bullish candlestick closes above 1.2271 critical resistance level then down trend is going to fail. In such case, I would prefer to stay out of the market and re-analyze the price action in GBP/USD currency pair, 1 hour chart.

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October 31st, 2016 @ 4:54 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had bullish momentum last week topped at 1.0991. As you can see on my H1 chart below, price is moving inside a bullish channel and above EMA 200 after bounced from 1.0850 suggests a potential bullish phase. The bias is bullish in nearest term testing 1.1050. Immediate support is seen around 1.0950. A clear break below that area could lead price to neutral zone in nearest term testing the lower line of the bullish channel and 1.0900 support area. Overall I remain neutral.

eurusdhourly

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October 31st, 2016 @ 4:52 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had another indecisive movement last week. The bias is neutral in nearest term. Immediate resistance is seen around 1.2225. A clear break above that area could trigger further bullish pressure testing 1.2270 – 1.2300 region. Immediate support is seen around 1.2150. A clear break below that area could trigger further bearish pressure testing 1.2080 but key support remains at 1.2000. As long as stay above 1.2000 the hammer formation bullish correction/reversal scenario should remain valid.

gbpusddaily

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October 31st, 2016 @ 4:47 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum last week, topped at 105.53 but closed lower at 104.78. As you can see on my H1 chart below price move lower after slipped above the upper line of the bullish channel (resistance) suggests a potential bearish pullback but as long as stay inside the bullish channel price is still in a bullish phase. The bias is neutral in nearest term probably with a little bearish bias testing 104.00 area but key support is seen around 103.50. Immediate resistance is seen around 105.00. A clear break above that area could trigger further bullish pressure testing 105.50 or higher.

usdjpyhourly

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October 31st, 2016 @ 4:42 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum last week bottomed at 0.9857 after formed a “shooting star” formation as you can see on my daily chart below. The bias is bearish in nearest term testing daily EMA 200 located around 0.9780 area. Immediate resistance is seen around 0.9915. A clear break above that area could lead price to neutral zone in nearest term testing 0.9950 or higher. Overall I remain neutral.

usdchfdaily

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October 31st, 2016 @ 2:56 am by William Gilday

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Screen Shot 2016-10-31 at 07.52.20

Hello traders nice to be with you on the last day of the month and the big NFP Friday. Well as I try to do we like to start with the EURUSD. This is a 30 minute chart and a lot of information, remember I am bearish bias for this pair so all I want to do is take the sell opportunity. OK we can see that this is at resistance and we have the last several candles that are indecision and looks to me the bulls are weak. I would like to see this break the trend line and retest and look for the sell entry at the price of 1.0965. I would like to see price sell off to the take profit of the support of the 200 EMA at the price of 1.0924.

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

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October 28th, 2016 @ 3:01 am by William Gilday

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Screen Shot 2016-10-28 at 07.39.39

Hello traders good to see you on this Friday as today we look at a daily chart as I just found this technical chart very interesting. We can see that price has touched resistance at the price zone of 1.0280 and was rejected , The next day we see a red candle. So as we all know this is a long term trade at least 5 days. I am looking for this to give us a small pullback and continue to the down side. So let us look to the price to get as close to the resistance price zone of 1.0242 AND LOOK FOR A BEARISH CANDLE and look to enter sell trade. I am looming to take profit at the support zone at the 200 EMA at the price of 0.9814.

Thank you traders and we will talk in the next Asia session….William

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October 28th, 2016 @ 1:55 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term but as long as stay below 1.0950 price is still in a bearish phase. Immediate support is seen around 1.0850/25 area. A clear break and daily/weekly close below that area could trigger further bearish pressure with nearest target seen around 1.0700 next week. On the upside, a clear break and daily/weekly close back above 1.0950 would expose 1.1050. Overall I remain neutral.

eurusdhourly

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