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2011 April

April 30th, 2011 @ 4:52 am by Setyo Wibowo

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The EURUSD continued its bullish momentum this week, topped at 1.4881 and closed at 1.4803. Overall the bullish technical bias remains strong at least targeting 1.5000.  On h4 chart below we can see price also still maintain its current bullish characteristic where the broken resistances (1.4518, 1.4647, 1.4790) become a good supports. 1.4790 is the key intraday support at this phase and as long as price stays above that area my intraday bias remains more to the upside. A clear break below that area could trigger further bearish pressure testing 1.4647 but as long as price moves inside the bullish channel the major bullish outlook should remain intact.

Have a great weekend and see you guys next week.

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April 29th, 2011 @ 5:55 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was able to maintain its bullish bias yesterday. There were some downside pressures but 1.4790 area provided good intraday support so far. The bias remains bullish in nearest term but need another clear break above 1.4881 to continue the bullish scenario targeting 1.5000. On the downside, a consistent move below 1.4790 would lead us to neutral zone in nearest term testing 1.4700 but overall the major outlook remains to the upside.

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April 29th, 2011 @ 5:48 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY was corrected lower yesterday but 120.38 support area still provide a good intraday support as you can see on my h4 chart below. I still prefer a bullish intraday outlook but a break below 120.38 could be a threat to my bullish intraday outlook testing 118.40/00 support area. On the upside we need a clear break above 121.40 to change the intraday bias back to bullish and keep the bullish scenario remains strong testing 121.80 – 122.50 before testing 123.31.

GBPJPY  Forecast
The GBPJPY failed to continue its bullish momentum yesterday, fell below 135.90 and now struggling around that area as you can see on my h4 chart below. This fact forces my intraday bias to neutral zone but overall I still prefer a bullish scenario. A clear break below 135.50 would change the intraday bias to bearish testing 134.80 – 134.00 support area. On the upside, we need a clear break at least above 136.50 to keep the upside pressure remains strong testing 137.00 and 139.67

AUDUSD Forecast
The AUDUSD was able to maintain its bullish bias yesterday. There were some minor downside pullback earlier today in Asian session but 1.0877 still provide a good intraday support. The bias remains bullish in nearest term still targeting new historical high projection around 1.1000 – 1.1050. A clear break below 1.0877 would lead us to neutral zone in nearest term testing 1.0770 – 1.0750 support area but the major scenario remains strongly to the upside.

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April 29th, 2011 @ 5:43 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD attempted to push higher yesterday, topped at 1.6745 but whipsawed to the downside and closed lower at 1.6643. Overall price is still in a bullish outlook. 1.6635 still provide a good intraday support so far but strong selling activities yesterday force my intraday mode in neutral zone and need a consistent movement at least back above 1.6700 to continue the bullish scenario targeting 1.6850 and 1.7000. On the downside, a clear break below 1.6635 could trigger further bearish correction testing 1.6580 – 1.6500 support area.

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April 29th, 2011 @ 5:40 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bearish momentum yesterday and now traded below 81.61 support area suggests the downside pressure remains strong. The bias remains bearish in nearest term still targeting 80.85. Looks like there is a good intraday support around 81.25, but as long as price stays below 82.00 the intraday bias remains to the downside. Another move back above 82.00 would lead us to neutral zone as intraday direction would become unclear testing 82.50/73 resistance area.

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April 29th, 2011 @ 5:35 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF attempted to push lower yesterday, bottomed at 0.8686 but further bearish pressure was rejected and closed higher at 0.8729. The bias is neutral in nearest term but still within a context of a strong bearish outlook still targeting 0.8600 – 0.8500 area. Immediate resistance remains around 0.8779 and the upper line of the bearish channel. A clear break above the bearish channel could trigger further upside pullback testing 0.8900 resistance area but I still prefer a bearish scenario at this phase.

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April 28th, 2011 @ 5:57 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD attempted to push lower yesterday but again, the previous broken resistance 1.4647 area became a good support before a strong bullish momentum which brought Euro hit 1.4881 earlier today in Asian session. The bias remains bullish in nearest term testing 1.4900 – 1.5000 this week. Immediate support at 1.4790. A clear break below that area would lead us to neutral zone in nearest term but overall the major scenario remains strongly bullish.

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April 28th, 2011 @ 5:51 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY had a strong bullish momentum yesterday after break out above the range area as you can see on my hourly chart below and hit 121.82 earlier today in Asian session. The bias is bullish in nearest term testing 122.50 – 123.31 resistance area. Immediate support at 121.00 – 120.75 followed by 120.38 (former resistance). A clear break below 120.38 would lead us to neutral zone in nearest term as direction would become unclear.

GBPJPY  Forecast
The GBPJPY had a strong bullish momentum yesterday after a strong break above 135.00 and 135.90, hit 137.03 earlier today in Asian session. The bias is bullish in nearest term targeting 137.88 even testing 139.67 especially if price able to make another strong break above 137.00. Note that 137.00 could be a good resistance at this phase and some minor downside pullback might take place but overall my intraday outlook has change to a bullish view as long as price stays above 135.90. A clear break below 135.90 would lead us to neutral zone in nearest term as direction would become unclear.

AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday and hit another new historical high at 1.0946 earlier today in Asian session. The bias remains bullish in nearest term testing 1.1000 – 1.1050 new historical high projection. Immediate support at 1.0877. A clear break below that area would lead us to neutral zone in nearest term but overall the scenario remains strongly bullish.

 

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