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Articles by Setyo Wibowo

May 4th, 2016 @ 3:03 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD attempted to push higher yesterday topped at 1.1616 but whipsawed to the downside and closed lower at 1.1495, formed a shooting star candle stick formation as you can see on my daily chart below. The bias is bearish in nearest term testing 1.1400 area. Immediate resistance is seen around 1.1550. A clear break above that area could lead price to neutral zone in nearest term retesting 1.1616. Overall price is still in a bullish phase, but the upper line of the bullish channel and 1.1700 region remains a good place to sell targeting the lower line of the bullish channel and the appearance of the shooting star formation might give us a valid warning of potential bearish pullback.

eurusddaily

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May 4th, 2016 @ 2:59 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday slipped above the daily EMA 200 but whipsawed to the downside and closed lower at 1.4534. The bias is bearish in nearest term testing 1.4400 area. Immediate resistance is seen around 1.4600. A clear break above that area could lead price to neutral zone in nearest term  testing 1.4670 but key resistance remains around the daily EMA 200 located around 1.4750.

gbpusddaily

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May 4th, 2016 @ 2:46 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday formed a Doji on daily chart as you can see on my daily chart below and hit 107.44 earlier today. The bias is bullish in nearest term testing 107.60, which is a good place to sell with a tight stop loss. A clear break and daily close above 107.60 could trigger further bullish pullback testing 108.00 or higher. Immediate support is seen around 106.50. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish outlook remain strong retesting 105.50 region.

usdjpydaily

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May 4th, 2016 @ 2:37 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF attempted to push lower yesterday bottomed at 0.9443 but whipsawed to the upside and closed higher at 0.9541, formed a long legged Doji as you can see on my daily chart below, which suggests a potential bullish pullback or at least a consolidation phase. The bias is bullish in nearest term testing 0.9600 – 0.9650 area. Immediate support is seen around 0.9500 – 0.9470. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong.

usdchfdaily

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May 3rd, 2016 @ 2:40 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bullish momentum yesterday topped at 1.1536. The bias remains bullish in nearest term testing 1.1600 area. As you can see on my daily chart below, we have a bullish channel indicates a clear and smooth bullish phase. However, like I said yesterday, we have potential good/strong resistances between 1.1500 – 1.1700 and selling near the upper line of the bullish channel and 1.1700 is not a bad idea, targeting the lower line of the bullish channel.  Immediate support is seen around 1.1490. A clear break below that area could lead price to neutral zone in nearest term testing 1.1450 region.

eurusddaily

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May 3rd, 2016 @ 2:37 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday and now struggling around 1.4670. The bias is bullish in nearest term testing the daily EMA 200 located around 1.4750. Immediate support is seen around 1.4620. A clear break below that area could lead price to neutral zone in nearest term testing 1.4580 or lower. My major technical outlook remains neutral.

gbpusddaily

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May 3rd, 2016 @ 2:35 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday but overall still able to maintain its bearish bias. The bias remains bearish in nearest term testing 105.00 area. Immediate resistance is seen around 107.00. A clear break above that area could lead price to neutral zone in nearest term but as long as stay below 107.60 I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

usdjpydaily

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May 3rd, 2016 @ 2:30 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF attempted to push higher yesterday topped at 0.9604 but whipsawed to the downside and closed lower at 0.9538. The bias remains bearish in nearest term testing 0.9470. Immediate resistance is seen around 0.9570. A clear break above that area could lead price to neutral zone in nearest term testing 0.9625 area but overall I prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell.

usdchfdaily

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