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2009 June

June 16th, 2009 @ 7:01 am by Johan Kriek

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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=hsCUg6Vruh0[/youtube]

Just a few notes:

Resistance =1.3980 and 1.4000 (intermediate bearish trendline resistance as discussed in the video)

Support = 1.3450 (Secondary Trnd support)

On the fundamental front I will be watching inflation figures from the Eurozone in the form of the CPI and in the US in the form of PPI. Inflation and inflation expectations determines CB’s monetary policy and lower inflation could spark a WEAKENING in the underlying currency…. Don’t say I didn’t warn you

Enjoy!

Johan Kriek

jkriek@fxinstructor.com

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June 16th, 2009 @ 1:42 am by Setyo Wibowo

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AUSUSD Daily Forecast

The AUDUSD had a bearish momentum yesterday. The pair bottomed at 0.7903 and closed at 0.7949. The bias is bearish in nearest term testing the key support level around 0.7825 area (see the chart below). Break below that area should trigger further bearish scenario in medium term. Immediate resistance is seen at 0.7965. CCI just cross the -100 line down on h1 chart suggesting a potential downside pressure.
audusdh43

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June 16th, 2009 @ 1:28 am by Setyo Wibowo

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GBPJPY Daily Forecast

The GBPJPY was corrected lower yesterday and continue traded lower earlier today in Asian market around 158.00 at the time I wrote this comment. On h4 chart below we can see that the bullish trendline has been violated to the downside indicating potential bearish outlook in nearest term targeting 156.60. Immediate resistance is seen at 158.50 followed by 159.50. CCI just cross the 100 line down on daily chart suggesting potential downside pressure.

gbpjpyh4


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June 16th, 2009 @ 1:18 am by Setyo Wibowo

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EURJPY Daily Forecast

The EURJPY had a significant bearish momentum yesterday. On h4 chart below we can see that the pair has break below important level around 134.80 area. For me this fact is a failure (or at least a pause) of the bullish scenario in medium term. The bias is bearish in nearest term targeting 132.30 area. Immediate resistance at 135.35 area.

eurjpyh4


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June 16th, 2009 @ 12:29 am by Setyo Wibowo

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USDCHF Daily Forecast

The USDCHF continued it’s bullish momentum yesterday. The pair topped at 1.0948 and closed at 1.0911. On h4 chart below we have a bullish channel after hammer formation appeared and now should testing 1.0975 resistance area. Break above that area should trigger further bullish scenario targeting 1.1050 area. Immediate support is seen at 1.0850. Break below that area could lead us into no trading zone. CCI in overbought area and heading down on h4 chart suggesting a potential downside pressure.

usdchf4hchart8

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June 16th, 2009 @ 12:15 am by Setyo Wibowo

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USDJPY Daily Forecast
The USDJPY failed to continued it’s bullish momentum yesterday. On h4 chart below we can see that the pair had a false breakout from the triangle formation before had bearish momentum, bottomed at 97.57 and closed at 97.80, and now testing the lower line of the triangle. The bias is bearish in nearest term, but we need a valid breakdown from the triangle to confirm the bearish scenario targeting 96.70 area. CCI just cross the 100 line down on daily chart suggesting a potential downside pressure.

usdjpy4hchart6


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June 15th, 2009 @ 11:50 pm by Setyo Wibowo

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GBPUSD Daily Forecast
The GBPUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.6241 and closed at 1.6317. On h4 chart below we can see that the pair is making a new bearish channel. Immediate support is seen at 1.6240. Break below that area should trigger further bearish momentum targeting 1.6100 even testing key support level around 1.5790 in medium term. Initial resistance at 1.6350. Break above that area could lead us into no trading zone.

gbpusd4hchart5


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June 15th, 2009 @ 11:37 pm by Setyo Wibowo

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EURUSD Daily Forecast
The EURUSD had a significant bearish momentum yesterday. The pair break below key support level 1.3790, bottomed at 1.3755 but closed a little bit higher at 1.3801. On daily chart below we have a head and shoulder formation suggesting a potential bearish reversal scenario with 1.3790 as the neckline. However we need consistent move below 1.3790 area to confirm the bearish scenario targeting 1.3650 in nearest term. CCI just cross the -100 line up on hourly chart so watch out for potential upside pressure testing 1.3850 – 1.3900 resistance area. Break above that area should take us into no trading zone.

eurusddaily


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