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2012 March

March 30th, 2012 @ 1:22 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had another indecisive movement yesterday. Price attempted to push lower but found a good support around the lower line of the bullish channel as you can see on my h4 chart below, keep the bullish phase since bounced from 1.3000 remains intact with nearest bullish target around 1.3400. A clear break and daily close above that area could trigger further bullish scenario at least testing 1.3480 – 1.3500 region. On the downside, only a clear break below the bullish channel and 1.3240 could stop the bullish phase testing 1.3130 – 1.3000 support area.

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March 30th, 2012 @ 1:18 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD regained its bullish momentum yesterday, topped at 1.5962 and closed at 1.5955. The bias is bullish in nearest term testing 1.6000 but note that we still need a clear break and daily close above 1.6000 to continue the bullish scenario testing 1.6129/50 area. Immediate support is seen around 1.5925/00. A clear break below that area could trigger further bearish pullback testing 1.5850 region. Price is still trapped between 1.6000 – 1.5650 for more than two months now and need a clear break from the range area to see clearer direction.

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March 30th, 2012 @ 1:11 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY continued its bearish correction yesterday, bottomed at 81.91 and now testing 81.80 key support area. The bias is bearish in nearest term but overall I still prefer a bullish scenario at this phase and the current bearish intraday movement should be seen just as a corrective movement after the false breakout above 83.00 this week. Immediate resistance is seen around 82.50. A clear break above that area could lead price to neutral zone in nearest term. On the upside, we need a clear break and daily close at least above 83.00 to end the bearish correction phase retesting 84.00/17 area.

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March 30th, 2012 @ 1:07 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another volatile but indecisive movement yesterday. There are no changes in my technical outlook. The bias remains bearish in nearest term testing 0.8950/30. Immediate resistance remains around 0.9050. A clear break back above that area could lead price to neutral zone in nearest term testing 0.9100/40 area but overall I still prefer a bearish scenario at this phase and only a clear break above 0.9320 could cancel the bearish scenario.

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March 28th, 2012 @ 1:52 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD didn’t make significant movement yesterday. The bias is neutral in nearest term but as long as moving inside the bullish channel price is still in a bullish phase since bounced from 1.3000. Key support area is seen around the lower line of the bullish channel and 1.3290 – 1.3240. On the upside, nearest bullish target is seen around 1.3400 which is also the daily EMA 200, a key resistance. A clear break and daily close above that area could trigger further bullish scenario at least testing 1.3480 – 1.3500 region.

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March 28th, 2012 @ 1:41 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but overall I remain bullish on this pair with nearest bullish target remains around 111.58. Immediate support remains around 110.30 followed by 109.50. I don’t expect any movement below 109.50 at this phase as it would postpone the bullish scenario but as long as moves above the trend line support (red) I still prefer a bullish scenario.

GBPJPY  Forecast
The GBPJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but overall I remain bullish on this pair with potential medium term target seen around 135.10 especially if price able to make another break above 133.50 and only a clear break back below 130.00 could postpone the bullish scenario. Immediate support is seen around 132.00. A clear break below that area could trigger further bearish pullback testing 131.50 but any downside pullback now is normal and should be seen as a corrective movement.

AUDUSD Forecast
The AUDUSD regained its bearish momentum yesterday, bottomed at 1.0439 and hit 1.0427 earlier today. The bias is bearish in nearest term especially if price able to make another break below 1.0420 retesting 1.0335 support area. Immediate resistance is seen around 1.0500. A clear break back above that area could lead price to neutral zone in nearest term but as long as stays below 1.0600 I still prefer a bearish scenario at this phase.

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March 28th, 2012 @ 1:30 am by Setyo Wibowo

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GBPUSD  Forecast
The GBPUSD attempted to push higher yesterday, but closed lower at 1.5951 after unable to break above 1.6000. The bias is neutral in nearest term. Overall price is still in a bullish intraday phase since the false breakdown below 1.5650 but still need a clear break and daily close above 1.6000 to continue the bullish scenario testing 1.6129/50 area. Immediate support is seen around 1.5925/00. A clear break below that area could trigger further bearish pullback testing 1.5850 and keep price inside the range area a little bit longer.

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March 28th, 2012 @ 1:26 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday, made a Doji on daily chart. The bias is neutral in nearest term but overall I remain bullish on this pair retesting 84.00/17 area. Immediate support remains around 82.50. A clear break below that area could trigger further bearish pullback retesting 81.80 but overall I still prefer a bullish scenario at this phase as a part of the bullish reversal scenario after hit the record low.

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