Forex Academy Quick Links:
Language:
English

2011 March

March 9th, 2011 @ 6:44 am by Setyo Wibowo

Click here to read the full article.

GBPUSD  Forecast
The GBPUSD continued its bearish momentum yesterday and now testing the lower line of the bullish channel as you can see on my h4 chart below. The bias is bearish in nearest term especially if price able to make another clear break below the bullish channel and 1.6100 support area testing 1.6030 even would open the door for further bearish scenario testing 1.5950 key support area. However note that from h4 chart point of view this pair is still moving in a sideways condition between 1.6300 – 1.5950. Immediate resistance at 1.6220. A clear break above that area would change the intraday technical bias to bullish retesting 1.6300.

Click here to read the full article.

March 9th, 2011 @ 6:40 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast
The USDJPY had a bullish momentum yesterday and now back above 82.50 support area. The downside scenario of the “head and shoulders” remains intact but the bias is bullish in nearest term testing 83.05 (neckline) and a clear break above the neckline would be a threat to the bearish scenario testing 83.96 (the head). A clear break above 83.96 could be a beginning of a new bullish scenario. On the downside, another clear break below 82.50 would lead us to neutral zone in nearest term but would keep the “head and shoulders” bearish scenario remains strong with nearest target remains around 80.90.

Click here to read the full article.

March 9th, 2011 @ 6:36 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF made a significant breakout above the range area yesterday as you can see on my daily chart below and hit 0.9368 earlier today in Asian session. Although overall the major technical bias remains bearish, the bias is bullish in nearest term as price is now entering correction phase testing 0.9435 resistance area. On the downside, only a clear break and daily close below 0.9330 would keep the major bearish scenario remains strong testing 0.9230 before targeting 0.9100 and 0.9000.

Click here to read the full article.

March 8th, 2011 @ 5:03 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast
The EURUSD bullish momentum was paused yesterday on broad Dollar strength, still unable to make a clear break above 1.4000.  I think there are two things worth noting here. First, price is still in a strong bullish phase. Second, the fact that 1.4000 can not be clearly broken so far could create a bullish exhaustion and potential downside pullback testing 1.3860/00 key support area especially if price able to make a clear break below 1.3920. However, any downside movement at this phase should be considered as a normal correction and only a clear break below 1.3860/00 would continue the downside corrective move testing 1.3700. On the upside, another move back above 1.4000 would change the intraday bias to bullish again and keep the bullish continuation scenario targeting 1.4281 this week remains strong.

Click here to read the full article.

March 8th, 2011 @ 4:58 am by Setyo Wibowo

Click here to read the full article.

EURJPY Forecast
The EURJPY made another indecisive movement yesterday, formed another Doji on daily chart. The bias remains neutral in nearest term and there are no changes in my daily outlook and as long as price stays above 114.00 I prefer a bullish scenario at this phase with the nearest bullish target around 116.35 (50% Fibo retracement of 127.88 – 105.42).  I am also still interested to buy around 114.00 as I see a good technical set up and risk – reward ratio there.


GBPJPY  Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 132.90 and traded around 133.20 at the time I wrote this comment. The bias remains bearish in nearest term but note that overall price is still move in a sideways mode without clear direction in the last two weeks. However, as you can see on my h4 chart below, price still moves inside a bullish channel which is actually suggests more upside bias. Aggressive intraday traders can long around 132.50 with stop loss below 131.75 while conservative traders can long around 131.75 (the lower line of the bullish channel) with smaller stop loss. On the upside, a clear break above 134.20 would change the intraday bias to bullish retesting 135.50 key resistance area.

AUDUSD Forecast
The AUDUSD still show insignificant movement yesterday. There are no changes in my daily outlook, where the major bullish scenario remains intact with potential downside correction indicated by the rising wedge formation. We are in a critical phase here and although the major technical bias remains bullish, short position around the all time high 1.0256 is acceptable for me due to a very good risk – reward ratio. Immediate support remains at 1.0030/50 and the lower line of the rising wedge formation which could be a key support area at this phase. A clear break below the rising wedge formation would open the door for further bearish correction at least testing 0.9942 even much lower.

Click here to read the full article.

March 8th, 2011 @ 4:51 am by Setyo Wibowo

Click here to read the full article.

GBPUSD  Forecast
The GBPUSD was corrected lower yesterday after unable to make a clear break above 1.6300, bottomed at 1.6180 and closed at 1.6204. That was the fifth unsuccessful attempt to move consistently above 1.6300 since last week. Although the major bullish scenario remains intact as price still moves inside the bullish channel as you can see on my h4 chart below, the intraday technical bias is now bearish especially if price able to make another clear break below 1.6180 testing 1.6120/00 and the lower line of the bullish channel. A clear break below the bullish channel would open the door for further bearish pullback testing 1.5950 key support area. Immediate resistance at 1.6250. A clear break above that area would lead us to neutral zone in nearest term but would give another chance for a retest of 1.6300 – 1.6343 key resistance level.

Click here to read the full article.

March 8th, 2011 @ 4:48 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast
The USDJPY made another volatile but indecisive movement yesterday. The bias is neutral in nearest term but overall price is still in the “head and shoulders” bearish scenario, which is remains intact as long as price stays below the neckline with nearest downside target seen around 80.90. Immediate resistance at 82.50. A clear break above that area would trigger further upside pullback retesting 83.05 (neckline).

Click here to read the full article.

March 8th, 2011 @ 4:44 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. The bias is neutral in nearest term and as you can see on my daily chart below price still trapped between 0.9330 – 0.9230 for more than a week now. Aggressive intraday traders can long around 0.9230 or short around 0.9330 with tight stop loss. For those who are interested in buying around 0.9230 make sure to cut your losses quickly as a daily close below 0.9230 would continue the major bearish scenario targeting 0.9100 – 0.9000.

Click here to read the full article.

Our Global Forex Community

Follow us on Twitter! Join us on Facebook! Watch us on YouTube! Stumble Us!

Advertising

Next Free Forex Webinar

Free Market Commentaries

Advertising

Blog Archive

Forex Links

Educational Partners

The Geek Knows
AgriMoney.com
Traders' Magazine

Finance Blogs Blogarama - The Blog Directory