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2009 June

June 24th, 2009 @ 12:20 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY failed to continued it’s bearish momentum yesterday. The pair attempted to push lower, bottomed at 131.42 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 134.37 and closed at 134.02. On h4 chart below we can see that this was a case of false breakdown and we have to assume that the trendline support did a good job preventing further bearish attack. The bias is neutral in both nearest and medium term. Immediate resistance is seen at 135.35. Initial support at 132.50. CCI in neutral area on h4 chart. 

eurjpyh43

GBPJPY Forecast
The GBPJPY had indecisive movement yesterday, formed a Doji formation on daily chart. The pair attempted to push lower yesterday, bottomed at 154.06 but further bearish scenario was rejected as the pair closed higher at 156.62. I think we are now in no trading zone and it’s better to wait for further development. Immediate resistance is seen at 156.90. Break above that area should trigger further upside pressure. Initial support at 155.80. CCI in neutral area on h4 chart.

gbpjpydaily2

AUDUSD Forecast
The AUDUSD failed to continued it’s bearish scenario yesterday. On daily chart below we can see that the 23.6% Fibo retracement ( of 0.6280 – 0.8261 ) support area around 0.7800 did a good job preventing the pair from further bearish attack. The bias is bullish in nearest term targeting 0.8050 area. Immediate support is seen at 0.7905. Break below that area should lead us into no trading zone. CCI in neutral area on h4 chart.

audusddaily2

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June 23rd, 2009 @ 11:35 pm by Setyo Wibowo

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USDCHF Daily Forecast

The USDCHF had a significant bearish momentum yesterday. On h4 chart below we can see that after violated the triangle to the downside, the pair had bearish momentum, bottomed at 1.0642 and closed at 1.0665. The bias is bearish in nearest term targeting 1.0540. We seem to have good support around 1.0642 area (yesterday’s low). Break below that area should trigger further bearish momentum. CCI just cross the -100 line down on daily chart suggesting potential bearish pressure.

usdchf4hchart14

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June 23rd, 2009 @ 11:24 pm by Setyo Wibowo

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USDJPY Daily Forecast

The USDJPY continued it’s bearish momentum yesterday. On h4 chart below we can see that the trendline support has been violated to the downside suggesting bearish outlook. The bias is bearish in nearest term targeting 94.50 and 93.80 area. CCI in oversold area and heading up on h4 chart so watch out for potential upside rebound testing 95.75 area. Break above that area should lead us into no trading zone.
usdjpy4hchart10

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June 23rd, 2009 @ 11:16 pm by Setyo Wibowo

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GBPUSD Daily Forecast

The GBPUSD attempted to push lower yesterday, bottomed at 1.6208 but further bearish momentum was rejected as the pair whipsawed to the upside, topped at 1.6471 and closed at 1.6450. On h4 chart below we can see that this was the case of a false triangle breakdown. The bias is bullish in nearest term testing 1.6505/59 area but remains neutral in medium term. CCI just cross the 100 line down on h1 chart so watch out for potential downside rebound testing 1.6350 support area. Break below that area should lead us into no trading zone.

gbpusd4hchart8

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June 23rd, 2009 @ 10:54 pm by Setyo Wibowo

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EURUSD Daily Forecast

The EURUSD had a significant bullish momentum yesterday. The pair topped at 1.4106 and closed at 1.4076. On h4 below we can see that the trendline resistance has been violated to the upside indicating potential bullish view. The bias is bullish in nearest term targeting 1.4176 area. CCI in overbought area and heading down on h4 chart so watch out for potential bearish rebound testing 1.4000 support area. Break below that area should lead us into no trading zone.

eurusd4hchart10


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June 23rd, 2009 @ 7:06 am by Johan Kriek

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By Johan Kriek (jkriek@fxinstructor.com)

Hi there fellow traders!

Please view a video of the EUR’ s direction of highest probability for the european and us session for today:

[youtube]http://www.youtube.com/watch?v=K18apryMPlc[/youtube]

Just a few notes:

Resistance =1.3950 and 1.4000 (intermediate bearish trendline resistance and H & S Neckline resistance as discussed in the video)

Support = 1.3800 and 1.3450 (The latter is the Secondary Trend support)

Head and Shoulders already violated and confirmed:

Please have a look at the charts below:

eurhs1

and…

eurhs2

As you can see on the above charts, the Head and Shoulders pattern on the EUR has already been violated and confirmed on June 17th

The target is roughly 1.3500..

Enjoy!

Johan Kriek

jkriek@fxinstructor.com

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June 23rd, 2009 @ 1:18 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY had a bearish momentum yesterday. The pair bottomed at 132.48 and closed at 132.91. The bias is bearish in nearest term. On h4 chart below we can see that the pair is at critical phase, testing the trendline support. Break below the trendline support should trigger further bearish momentum targeting 130.70 area. Immediate resistance is seen at 133.15. Break above that area should lead us into no trading zone. CCI just cross the -100 line down on daily chart suggesting potential downside pressure.

eurjpyh42

GBPJPY Forecast
After corrected higher on Friday, the GBPJPY continued it’s bearish momentum yesterday. On daily chart below we have descending triangle formation indicating potential bearish scenario with 154.90 as key support level. Break below that area should trigger further bearish momentum testing 151.70 and the trendline support area. Immediate resistance is seen at 156.40 followed by 157.05. CCI just cross the -100 line down on h4 chart suggesting potential downside pressure.

gbpjpydaily1

AUDUSD Forecast
The AUDUSD had significant bearish momentum yesterday. The pair bottomed at 0.7850 and closed at 0.7855. On Fibonacci retracement study (of 0.6280 – 0.8261) at daily chart below we can see that the pair is now testing 23.6% support area around 0.7800 which should be a key support level at this phase. Break below that area should trigger further bearish momentum targeting  0.7700 area. Immediate resistance is seen at 0.7930. Break above that area should lead us into no trading zone.

audusddaily1

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June 23rd, 2009 @ 12:05 am by Setyo Wibowo

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USDCHF Daily Forecast

The USDCHF had a bullish momentum yesterday. On h4 chart below we have breakout from triangle but the bullish momentum was not very convincing. However I am expecting further bullish attempt today testing 1.0950/70 area. Immediate support is seen at 1.0830. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.

usdchf4hchart13

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