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2009 June

June 19th, 2009 @ 11:28 pm by Setyo Wibowo

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GBPUSD Outlook

The GBPUSD finally had a convincing bullish momentum yesterday, the most convincing movement during this week if we look at the daily chart. The pair broke above 1.6505, topped at 1.6559 but closed a little bit lower at 1.6496. Even this week movement was less significant compared to last week, the fact that the 1.6505 level was broken to the upside should trigger further bullish pressure testing key resistance level around 1.6660 area for the upcoming week. On weekly chart below, we have a rounding bottom formation, which is a bullish reversal formation especially if the 1.6660 resistance line violated to the upside. On the downside, this week’s low at 1.6187 should be important support area at this phase. So, what will happen next week should be very interesting since it might determine our long term outlook for GBPUSD. Have a great weekend and see you guys next week :)

gbpusdsummary1


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June 19th, 2009 @ 1:32 am by Setyo Wibowo

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EURJPY Forecast
The falling wedge formation gave us a valid warning about bullish scenario yesterday. I am expecting this bullish scenario continue today. The bias is bullish in nearest term targeting 135.70. Immediate support is seen at 133.80. Break below that area should lead us into no trading zone. CCI in neutral area on daily chart.

eurjpyhourly2

GBPJPY Forecast
The GBPJPY bearish momentum was paused yesterday. The pair attempted to push lower, bottomed at 154.96 but further bearish scenario was rejected as the pair whipsawed to the upside, topped at 158.42 and closed at 157.52. On h4 chart below we can see that the price is now testing the bearish channel. Violation to the bearish channel should trigger further bullish scenario back towards 159.35 area. Immediate support is seen at 156.50. CCI in neutral area both on h4 and daily chart.

gbpjpyh43

AUDUSD Forecast
The AUDUSD didn’t make significant movement yesterday. The pair attempted to push higher, topped at 0.8052 but closed lower at 0.7980. I think we are still in no trading zone and it’s better to stay out from the market. On daily chart below we have triangle formation after bullish momentum indicating consolidation phase. Immediate resistance is seen at 0.8100. Break above that area should trigger further bullish scenario back towards 0.8260 area. Initial support at 0.7900. CCI in neutral area on daily chart.
audusddaily


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June 19th, 2009 @ 12:33 am by Setyo Wibowo

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USDCHF Daily Forecast

The USDCHF had a bullish momentum yesterday. The pair topped at 1.0896 and closed at 1.0861. However for me this bullish momentum is not enough to confirm bullish scenario since the pair still trapped in 1.0975 – 1.0590 ranging area and  still moving inside the triangle on h4 chart below. I think it’s better to stay away from the market and let this week be a “no trading week” for us.

usdchf4hchart11

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June 19th, 2009 @ 12:21 am by Setyo Wibowo

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USDJPY Daily Forecast

The USDJPY was corrected higher yesterday. On h1 chart below we can see that the pair is now testing the 38.2% Fibo retracement (of 98.55 – 95.50 ) area around 96.70. So far, this upside correction is normal, but break above 96.70 area should trigger further upside momentum. Immediate support is seen at 95.62 (yesterday’s low). CCI in neutral area both on h4 and daily chart.

usdjpyhourly1

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June 19th, 2009 @ 12:11 am by Setyo Wibowo

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GBPUSD Daily Forecast

So far this week, similar to the EURUSD, the GBPUSD has been showing no clear direction. On h1 chart below we can see that yesterday the pair attempted to push lower, bottomed at 1.6187 but further bearish scenario was rejected as the pair whipsawed to the upside and closed higher at 1.6329. Staying away from the market is the best thing to do now. Expect another ranging area between 1.6505 – 1.6215. CCI in neutral area on daily chart.

gbpusdhourly9


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June 19th, 2009 @ 12:01 am by Setyo Wibowo

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EURUSD Daily Forecast

The EURUSD had a moderate bearish momentum yesterday. The pair attempted to push higher, topped at 1.4000 but closed lower at 1.3898. On h1 chart below we still have a valid minor bullish channel but bullish scenario is not confirmed yet as long as the trendline resistance hold. So, I think it’s better to keep out from the market and wait for further development. It’s not the best time to trade now since we have no convincing and clear movement during this week. Immediate support is seen at 1.3850 followed by 1.3747. Break below those area should trigger further bearish scenario towards 1.3650. Initial resistance at 1.4050. Break above that area should trigger further bullish momentum towards 1.4350. CCI in neutral area on daily chart.

eurusdhourly4


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June 18th, 2009 @ 1:24 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY made indecisive movement yesterday, formed a Doji formation on daily chart. The bias is neutral in nearest term. However, on h1 chart below we have a falling wedge formation indicating potential upside scenario especially if the wedge violated to the upside, targeting 135.70 area. Immediate support is seen at 132.34 (yesterday’s low). Initial resistance at 134.40. Break above that area should trigger further bullish momentum. CCI in neutral area on daily chart.

eurjpyhourly1

GBPJPY Forecast
The GBPJPY had a moderate bearish momentum yesterday. The pair bottomed at 155.60 but closed higher at 156.98. The bias remains neutral in nearest term but I still expecting another downside attempt as the pair maintain to stay below trendline resistance and we also have bearish channel on h4 chart. On daily chart we also can see the pair has made lower highs and lows in the last 4 days. Immediate resistance is seen at 158.25. Initial support at 155.60 followed by 154.90. CCI in neutral area on h1 chart.

gbpjpyh42

AUDUSD Forecast
The AUDUSD made another indecisive movement yesterday. I think we still in no trading zone and it’s better to keep out from the market. Immediate resistance is seen at 0.8000. Break above that area could trigger further bullish momentum towards 0.8100 area. Initial support at 0.7850 -0.7825 area. Break below that area should trigger further bearish momentum. CCI in neutral area on daily chart.
audusdh45

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June 18th, 2009 @ 12:05 am by Setyo Wibowo

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USDCHF Daily Forecast

The USDCHF had a bearish momentum yesterday. The pair bottomed at 1.0763 and closed at 1.0796. The bias is bearish in nearest term but on h4 chart below we have triangle formation indicating consolidation while the pair still trapped in 1.0975 – 1.0590 ranging area, so I think it’s not the best time to trade now. Immediate support is seen at 1.0730. Break below that area could trigger further bearish momentum towards 1.0650. Initial resistance at 1.0850. CCI in neutral area on daily chart.

usdchf4hchart10

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