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2017 August

August 31st, 2017 @ 1:45 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bearish momentum yesterday bottomed at 1.1880. The bearish pin bar on daily chart I showed you yesterday gave us a valid bearish signal. The bias is bearish in nearest term testing 1.1800 – 1.1770 region. Immediate resistance is seen around 1.1950. A clear break above that area could lead price to neutral zone in nearest term testing 1.2000. Overall I remain bullish but need a clear break above 1.2070 to end the current bearish correction phase and reactivate my bullish mode targeting 1.2175 or higher.

eurusddaily

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August 31st, 2017 @ 1:44 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Price has been moving sideways between 1.2980 – 1.2870 range area since Monday and we need a clear break from that range area to see clearer direction. A clear break and daily close below 1.2870 would expose 1.2775/00 region. On the other hand, a clear break and daily close above 1.2980 would expose 1.3050 – 1.3100 region or higher. Overall I remain neutral.

gbpusddaily

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August 31st, 2017 @ 1:43 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum yesterday, broke above 109.85 resistance and hit 110.54 earlier today in Asian session. The bullish pin bar on daily chart I showed you yesterday gave us a valid bullish signal. The bias is bullish in nearest term testing 111.00 region, which located around the daily EMA 200. Immediate support is seen around 109.85. A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear. Overall I am neutral in this pair.

usdjpydaily

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August 31st, 2017 @ 1:42 am by Setyo Wibowo

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USDCHF Forecast    
The USDCHF had a bullish momentum yesterday topped at 0.9645. The bullish pin bar I showed you yesterday gave us a valid bullish signal. The bias remains bullish in nearest term testing 0.9700 – 0.9765 area. Immediate support is seen around 0.9580. A clear break and daily close back below that area could lead price to neutral zone in nearest term as direction would become unclear testing 0.9525 area but key support remains at 0.9450 region.

usdchfdaily

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August 30th, 2017 @ 8:51 am by Muhammad Azeem

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USD/CHF Elliott Wave Analysis

USD/CHF Elliott Wave Analysis in 15 Minutes chart

Bullish trend is present in USD/CHF currency pair, 15 minutes chart. As I have suggested via my Elliott Wave Analysis few hours ago, the price of USD/CHF currency pair is going to rise up now on a short-term basis to create a Bullish Impulse Elliott wave pattern and Spot Forex traders should consider taking a possible buy trading chance.

So, all those Forex traders who have followed my Elliott Wave Analysis have made the right decision as price has started the bullish leg. Strong key support level is present at 0.9454 price level which is the ending point of Bullish wave (i) impulse wave. In my opinion, price action in USD/CHF currency pair has completed bearish wave (iv) corrective Bearish Flat Elliott wave pattern. Based on Elliott wave analysis, Bullish Impulse Wave pattern is now in progress. So, I expect the market to first move sideways and then resume an up trend and rise towards 0.9585 price area in coming trading hours.

Next, price action is most likely going to prints a top as well in coming trading hours after completing bullish Impulse wave (v) pattern. As the trend is still bullish, Forex traders should consider only long trades and no trade against the current USD/CHF bullish trend as it is always easy to trade in the favour of market trend. Currently, bullish wave (v) leg which is part of the Bullish Impulse Elliott wave pattern looks half finish. A good idea is to look for a possible buy trading chance to join an up trend.

However; if the price action in USD/CHF spot Forex pair breaks below 0.9454 important support level then Bullish Elliott wave analysis will become in-valid. From this time forward, I may seize the opportunity to stay out of the market and re-assess the USD/CHF currency pair price movement in fifteen minutes chart. Spot Forex traders who are interested to learn Price Patterns click here.

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August 30th, 2017 @ 3:19 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD attempted to push higher yesterday, topped at 1.2070 but whipsawed to the downside and closed lower at 1.1971, formed a bearish pin bar as you can see on my daily chart below. Overall I remain bullish but the appearance of a bearish pin bar around a psychological level (1.2000) is a serious threat to the bullish outlook and never to be underestimated. The bias is bearish in nearest term testing 1.1910. A clear break and daily close below that area would expose 1.1830 support area. On the upside, we need a clear break above 1.2070 to continue the bullish scenario targeting 1.2175 or higher.

eurusddaily

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

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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.2978 but whipsawed to the downside and closed lower at 1.2916. As you can see on my daily chart below we have a bearish pin bar after a bullish pin bar, suggests no clear winner between buyers and sellers. The bias is neutral in nearest term. Immediate support is seen around 1.2870. A clear break and daily close below that area could trigger further bearish pressure testing 1.2775/00 region. Immediate resistance is seen around 1.2980. A clear break and daily close above that area could trigger further bullish pressure testing 1.3050 or higher. Overall I remain neutral.

gbpusddaily

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August 30th, 2017 @ 3:17 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 108.26 but whipsawed to the upside and closed higher at 109.73. As you can see on my daily chart below, the pair printed a bullish pin bar formation after a false break below 108.70 key support, suggests a bullish view especially if price able to make a clear break above 109.85 key resistance targeting 111.00 region. On the downside, 108.70 remains a key support. We need a clear break and consistent movement below that area to continue the bearish phase testing 108.00 – 107.50 as nearest bearish target.

usdjpydaily

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