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2009 June

June 29th, 2009 @ 1:10 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY had a moderate bearish momentum on Friday. On daily chart below we can see that the trendline support did a great job and we should see further upside pressure testing 135.35 area. Break above that area should trigger further bullish scenario re-testing 139.20. Immediate support is seen at 133.20. Break below that area could trigger further bearish pressure back towards 132.50.

eurjpydaily2

GBPJPY Forecast
The GBPJPY had another indecisive movement on Friday, formed another Doji on daily chart. The bias remains neutral and we are still in no trading zone. Immediate support is seen at 155.90. Break below that area should trigger further bearish pressure testing key support level around 154.75 area. Initial resistance at 158.50. CCI just cross the -100 line down on h1 chart suggesting potential downside pressure.

gbpjpydaily3

AUDUSD Forecast
The AUDUSD had a moderate bullish momentum on Friday. However the bullish momentum seems not very convincing right now as the pair still unable to stay consistently above 0.8050. On h4 chart below we can see that after breakout from the triangle, the price moved back down towards the triangle. Immediate support is seen at 0.8000. Break below that area should trigger further bearish pressure back towards 0.7900 area. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.

audusdh49

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June 29th, 2009 @ 1:01 am by Setyo Wibowo

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GBPUSD Daily Forecast

The GBPUSD had a bullish momentum on Friday. The pair topped at 1.6557 and closed at 1.6523. The bias is bullish in nearest term and we might see further upside pressure re-testing 1.6660 area. However, as you can see in h4 chart below, actually the pair still trapped in ranging area without a clear direction in medium term. So I think It’s still not the best time to trade. Immediate support is seen at 1.6430 followed by 1.6350. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.

gbpusd4hchart11

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June 29th, 2009 @ 12:56 am by Setyo Wibowo

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USDJPY Daily Forecast

The USDJPY had a bearish momentum on Friday. On daily chart below we can see that the pair is now struggling around trendline support area. I prefer a downside scenario since the major long term trend remains bearish. The bias is bearish in nearest term targeting 94.50 area. Immediate resistance is seen at 95.80. break above that area should lead us into no trading zone.
usdjpydaily4

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June 29th, 2009 @ 12:47 am by Setyo Wibowo

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USDCHF Daily Forecast

The USDCHF had another bearish momentum on Friday. It seems like the market doesn’t agree with SNB decision that the Swiss Franc should be weakened. The bias is bearish in nearest term targeting 1.0750. Immediate resistance at 1.0880. Break below that area should lead us into no trading zone.

usdchfhourly4

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June 27th, 2009 @ 1:11 am by Setyo Wibowo

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USDJPY Outlook
The USDJPY continues it’s bearish momentum this week. Although the bearish momentum is not as strong as last week but technically we do have significant movement.  On weekly chart below we can see that the major long term trend is bearish. The pair had bullish correction to the 38.2 Fibonacci retracement (of 124.13 – 87.12) around 101.15  on April then continue to push lower since then. Here is the my technical focus: The trendline support has been violated to the downside this week indicating potential bearish scenario continue the major bearish trend. So I prefer a bearish view for the upcoming week at least testing 93.50 area. On the upside, we have important resistance around 96.70 area. Break above that area should be seen as bearish scenario failure. Have a great weekend and see you guys next week :)
usdjpysummary

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June 26th, 2009 @ 1:19 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY had a bullish momentum yesterday. On h4 chart below we can see that after failed to break below the trendline support, the pair is now making an inverse H&S formation indicating potential bullish scenario especially when the neckline break to the upside targeting 136.50 area. Immediate support is seen at 133.50. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.

eurjpyh45

GBPJPY Forecast
The GBPJPY had another indecisive movement yesterday. It’s been 3 days in a row of indecisive movement since Tuesday. On h4 chart below we can see that the pair still trapped in triangle area. No trading until we have valid triangle breakout/breakdown. Immediate resistance is seen at 158.51 (yesterday’s high). Initial support at 155.80. CCI in neutral area on both h4 and daily chart.

gbpjpyh46

AUDUSD Forecast
The AUDUSD had a moderate bullish momentum yesterday. On h4 chart below we can see that the triangle has been broken to the upside indicating potential bullish scenario but we need convincing movement above 0.8050 to confirm the bullish scenario testing 0.8261 area. Immediate support at 0.8000. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.

audusdh48

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June 26th, 2009 @ 12:19 am by Setyo Wibowo

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USDCHF Daily Forecast

After significant bullish momentum moved by SNB intervention, the USDCHF had moderate bearish correction yesterday. On h1 chart below we have rectangle formation indicating consolidation. The bias is neutral in nearest term. Break from the rectangle should give us clearer direction. Immediate support is seen at 1.0920. Break below that area should trigger further bearish momentum towards 1.0830 area. Initial resistance at 1.1050. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.
usdchfhourly3

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June 26th, 2009 @ 12:11 am by Setyo Wibowo

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USDJPY Daily Forecast

The USDJPY had a moderate bullish momentum yesterday. On h4 chart below we can see that the pair is struggling around the trendline indicating an intense battle between buyers and sellers around that area. The bias is neutral in nearest term. Immediate support is seen at 95.00/50 area. Initial resistance at 96.70. Expect ranging movement between that area today. CCI just cross the 100 line down on h4 chart suggesting potential downside pressure.

usdjpy4hchart12


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