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2017 June

June 30th, 2017 @ 3:18 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bullish momentum yesterday topped at 1.1445. The bias remains bullish in nearest term testing 1.1500 – 1.1530 region before targeting 1.1615 key resistance. Immediate support is seen around 1.1400 region. A clear break below that area could lead price to neutral zone in nearest term testing 1.1350 area but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.

eurusddaily

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June 30th, 2017 @ 3:16 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.3015 and hit 1.3029 earlier today in Asian session. The bias remains bullish in nearest term testing 1.3050 key resistance which is a good place to sell with a tight stop loss as a clear break and daily/weekly close above that area would activate my bullish mode targeting 1.3350 – 1.3500 region. Immediate support is seen around 1.2970/50 area. A clear break below that area could lead price to neutral zone in nearest term testing 1.2900 region.

gbpusdh4

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June 30th, 2017 @ 3:16 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push higher yesterday topped at 112.92 but closed lower at 112.16 and hit 111.72 earlier today in Asian session. Overall price is still in a bullish phase, but we have a bearish pin bar around resistance (113.00) as you can see on my daily chart below, which suggests a potential bearish pullback scenario. The bias is bearish in nearest term testing 111.00 – 110.65 area. I still prefer a bullish scenario at this phase but need a clear break above 113.00 to continue the bullish scenario targeting 114.30 area.

usdjpydaily

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June 30th, 2017 @ 3:14 am by Setyo Wibowo

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USDCHF Forecast    
The USDCHF continued its bearish momentum yesterday bottomed at 0.9556 and hit 0.9550 earlier today in Asian session. The bias remains bearish in nearest term testing 0.9500 – 0.9450 area which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 0.9600. A clear break above that area could lead price to neutral zone in nearest term testing 0.9650/75 area. On the downside, a clear break and daily/weekly close below 0.9450 would expose 0.9250 next week.

usdchfdaily

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June 29th, 2017 @ 10:10 pm by Muhammad Azeem

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usd-cad-15m

The trend is bearish in USD/CAD currency pair, 15 minutes time frame. As I have suggested few hours ago, the price of USD/CAD pair is going to drop now on a short-term basis to print a Bearish Impulse Elliott wave (iii) pattern and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott wave analysis have made the right decision as the price has descended. Strong key resistance level is present at 1.3147 price level.

In my judgment, the price action in USD/CAD currency pair is now going to rise up to print a bullish Wave (iv) Zig Zag pattern. To me; bullish Wave (iv) is just a pull back in a downtrend. Next, the market is going to print a bearish Wave (v) leg. Based on Elliott Wave analysis, the bullish Zig Zag is going to complete a corrective wave (iv) Elliott wave pattern as well.

Currently, bullish Wave (iv) leg looks in-complete. So, a good idea is first to wait for the price action to complete the bullish corrective wave leg. Next, look for a possible sell trading chance to join the downtrend to ride the bearish Wave (v) leg. However; if the price of USD/CAD currency pair breaks above 1.3147 important resistance level then bearish Elliott Wave forecast will become invalid. In such a market scenario, it would be best not to trade the Forex market and re-analyze the USD/CAD fifteen minutes chart.

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June 29th, 2017 @ 3:43 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bullish momentum yesterday topped at 1.1390 and hit 1.1419 earlier today in Asian session. The bias remains bullish in nearest term testing 1.1425. A clear break above that area could trigger further bullish pressure testing 1.1500 region before targeting 1.1615 area. Immediate support is seen around 1.1350. A clear break below that area could lead price to neutral zone in nearest term testing 1.1300 – 1.1285 region but overall I remain bullish and any downside pullback should be seen as a good opportunity to buy.

eurusddaily

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June 29th, 2017 @ 3:42 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.2971. The bias remains bullish in nearest term testing 1.3050. Immediate support is seen around 1.2915. A clear break below that area could lead price to neutral zone in nearest term but as long as stay above 1.2815 price is still in a bullish phase and any downside pullback should be seen as a good opportunity to buy. On the upside, a clear break and daily close above 1.3050 would activate my bullish mode.

gbpusdh4

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June 29th, 2017 @ 3:39 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push lower, bottomed at 111.83 but whipsawed to the upside and closed higher at 112.32. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 113.00 region. Immediate support is seen around 111.78/45 area. A clear break back below that area could lead price to neutral zone in nearest term but as long as stay above 110.65 price is still in a bullish phase. On the upside, a clear break and daily close above 113.00 would expose 114.30 region.

usdjpy4h

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