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Articles by Setyo Wibowo

October 19th, 2017 @ 2:51 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD attempted to push lower yesterday bottomed at 1.1730 but closed higher at 1.1787 and hit 1.1816 earlier today in Asian session. The bias is bullish in nearest term testing 1.1900 key resistance. A clear break and daily close above that area would potentially nullify the “head and shoulders” bearish reversal scenario and resume the major bullish trend testing 1.2000 – 1.2090 region. Immediate support is seen around 1.1780. A clear break below that area could lead price to neutral zone in nearest term testing 1.1730 region but key support remains at 1.1670 (neckline) which need to be clearly broken to the downside to confirm the “head and shoulders” bearish reversal scenario.

eurusddaily

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October 19th, 2017 @ 2:50 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push lower slipped below 1.3150 support area but closed higher at 1.3205 and hit 1.3228 earlier today in Asian session. The bias is neutral in nearest term probably with a little bullish bias testing 1.3285 but key resistance remains at 1.3330. On the downside, a clear break and daily close below 1.3150 would retest the daily EMA 200 and the trend line support located around 1.3000 region. Overall I remain bullish but need a clear break above 1.3330 to reactivate my bullish mode.

gbpusddaily

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October 19th, 2017 @ 2:49 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 113.04 and hit 113.09 earlier today in Asian session. The bias is bullish in nearest term retesting 113.20 key resistance area. A clear break above that area would activate my bullish mode testing 114.50 region. Immediate support is seen around 112.75. A clear break below that area could lead price to neutral zone in nearest term testing 112.30/00 region but key support remains at 111.65 area. Overall I remain neutral.

usdjpydaily

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October 19th, 2017 @ 2:48 am by Setyo Wibowo

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USDCHF Forecast    
The USDCHF continued to trade higher yesterday topped at 0.9836 but closed lower at 0.9815. The bias is bullish in nearest term but note that we have a double top formation at 0.9836 as you can see on my daily chart below. We need a clear break above 0.9836 to activate my bullish mode testing 0.9950 region. Immediate support is seen around 0.9765. A clear break below that area would give further confirmation to the double top bearish scenario testing 0.9700 or lower. Overall I remain neutral.

usdchfdaily

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October 18th, 2017 @ 12:15 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bearish momentum yesterday bottomed at 1.1736. The bias remains bearish in nearest term testing 1.1670 key support, which is the “neckline” of a “head and shoulders” formation as you can see on my daily chart below. A clear break and daily close below 1.1670 would confirm the bearish reversal scenario with nearest target seen at 1.1450. Immediate resistance is seen around 1.1800. A clear break above that area could lead price to neutral zone in nearest term testing 1.1850 but key resistance remains at 1.1900 which need to be clearly broken to the upside to potentially resume the major bullish trend testing 1.2000 – 1.2090 region.

eurusddaily

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October 18th, 2017 @ 12:12 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued to trade lower yesterday bottomed at 1.3154. The bias remains bearish in nearest term especially if price able to make a clear break below 1.3150 testing the daily EMA 200 and the major trend line support located around 1.3000 – 1.2950 region. Immediate resistance is seen around 1.3225. A clear break above that area could lead price to neutral zone in nearest term testing 1.3285 area but key resistance remains at 1.3330 region which need to be clearly broken to the upside to reactivate my bullish mode.

gbpusddaily

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October 18th, 2017 @ 12:09 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push higher topped at 112.47 but closed a little bit lower at 112.18. The bias is neutral in nearest term probably with a little bearish bias testing 111.65 support area. A clear break and daily close below that area would expose 111.00 – 110.65 area. Immediate resistance is seen around 112.47. A clear break and daily close above that area would retest 113.20 key resistance area. Overall I remain neutral.

usdjpydaily

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October 18th, 2017 @ 12:08 am by Setyo Wibowo

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USDCHF Forecast    
The USDCHF had a bullish momentum yesterday topped at 0.9808 but closed a little bit lower at 0.9783. The bias is bullish in nearest term but only a clear break back above 0.9807/36 key resistance would nullify the bearish pin bar scenario and activate my bullish mode with nearest target seen at 0.9950. Immediate support is seen around 0.9765/50. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish pin bar scenario alive and kicking testing 0.9700 area. Overall I remain neutral.

usdchfdaily

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