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2017 October

October 31st, 2017 @ 1:59 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a moderate bullish momentum yesterday topped at 1.1657. The bias is neutral in nearest term. Immediate resistance is seen around 1.1670. A clear break above that area could trigger further bullish pressure testing 1.1725 area but as long as stay below 1.1900 I remain bearish and any upside pullback should be seen as a good opportunity to sell with nearest target seen at 1.1450. Immediate support is seen around 1.1620. A clear break below that area could trigger further bearish pressure testing 1.1575 or lower as a part of the “head and shoulders” bearish reversal scenario.

eurusddaily

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October 31st, 2017 @ 1:57 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.3215. The bias is bullish in nearest term testing 1.3300 – 1.3330 key resistance. Immediate support is seen around 1.3175. A clear break below that area could lead price to neutral zone in nearest term testing 1.1.3120 area. Key support remains at the trend line support and the daily EMA 200 located around 1.3000 which still respected by the market and as long as that key support hold, the major bullish trend should remain intact.

gbpusddaily

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October 31st, 2017 @ 1:56 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 113.03 and hit 112.98 earlier today in Asian session. The bearish pin bar formation printed on daily chart after rejection to move above 114.50 key resistance gave us a valid bearish signal. The bias remains bearish in nearest term testing 112.50. A clear break and daily close below that area could trigger further bearish pressure testing 111.65 region. Immediate resistance is seen around 113.45. A clear break above that area could lead price to neutral zone in nearest term testing 113.85 region but key resistance remains at 114.50. Overall I remain neutral.

usdjpydaily

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October 31st, 2017 @ 1:55 am by Setyo Wibowo

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USDCHF Forecast    
The USDCHF had a moderate bearish momentum yesterday bottomed at 0.9938. The bias is neutral in nearest term. Overall I still prefer a bullish scenario at this phase but the bearish pin bar printed on daily chart on Friday still suggests a potential bearish pullback testing 0.9881 support area. Immediate resistance is seen around 1.0000 but key resistance remains at 1.0037 which need to be clearly broken to the upside to continue the bullish phase testing 1.0100 or higher. Overall I remain neutral.

usdchfdaily

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October 30th, 2017 @ 1:45 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a significant bearish momentum last week, broke below the “neckline” of the “head and shoulders” formation as you can see on my daily chart below. This fact confirms the bearish reversal scenario with nearest target seen at 1.1450. The bias is bearish in nearest term. Immediate resistance is seen around 1.1650/70 area. A clear break above that area could lead price to neutral zone in nearest term testing 1.1725 area but as long as stay below 1.1900 I remain bearish and any upside pullback should be seen as a good opportunity to sell.

eurusddaily

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October 30th, 2017 @ 1:43 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive last week. The bias is neutral in nearest term probably with a little bearish bias testing the trend line support and daily EMA 200 located around 1.3000 region which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 1.3162. A clear break above that area could trigger further bullish pressure testing 1.1.3225 area. On the downside, a clear break and daily close below 1.3000 would stop the major bullish trend and could be an early signal of a bearish reversal scenario with nearest target seen at 1.2800 area.

gbpusddaily

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October 30th, 2017 @ 1:42 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive last week. Price printed a bearish pin bar formation near 114.50 key resistance as you can see on my daily chart below suggests a potential bearish view. The bias is bearish in nearest term testing 113.20 support area. A clear break below that area would expose 112.50 or lower. On the upside, 114.50 remains a key resistance and good place to sell with a tight stop loss as a clear break above that area would expose 115.50 or higher. Overall I remain neutral.

usdjpydaily

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October 30th, 2017 @ 1:41 am by Setyo Wibowo

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USDCHF Forecast    
The USDCHF continued to trade higher last week topped at 1.0037 but closed lower at 0.9971. I still prefer a bullish scenario at this phase but we have a bearish pin bar formation as you can see on my daily chart below suggests a potential bearish pullback. The bias is neutral in nearest term. Immediate support is seen around 0.9950. A clear break below that area could trigger further bearish pressure testing 0.9910 – 0.9881 area. Immediate resistance is seen around 1.0037. A clear break above that area would nullify the bearish pin bar scenario targeting 1.0100 or higher. Overall I remain neutral.

usdchfdaily

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