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2012 May

May 31st, 2012 @ 7:22 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, bottomed at 1.2360 and hit 1.2357 earlier today. The bias remains bearish in nearest term testing 1.2350 area. A clear break below that area could trigger further bearish pressure testing 1.2300 – 1.2250/00 area as a part of the bearish scenario after broke below the descending triangle and 1.3000. Immediate resistance is seen around 1.2425. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.2500 my overall intraday technical bias remains strongly to the downside and only a movement back above 1.2620/41 will interrupt the current strong bearish trend.

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May 31st, 2012 @ 7:08 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY continued its bearish momentum yesterday, bottomed at 97.70 and hit 97.35 earlier today. The bias remains bearish in nearest term testing 97.00. A clear break and daily close below that area could trigger further bearish momentum testing 96.50 or lower. Immediate resistance is seen around 98.00. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 99.23 my overall intraday bias remains strongly to the downside and I still prefer to sell on rallies.

GBPJPY Forecast
The GBPJPY continued its bearish momentum yesterday, bottomed at 122.23 and hit 121.75 earlier today. The bias remains bearish in nearest term testing 121.00 – 120.40. Immediate resistance is seen around 122.70. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 123.25 my overall intraday bias remains strongly to the downside and I still prefer to sell on rallies.

AUDUSD Forecast
The AUDUSD continued its bearish momentum yesterday, bottomed at 0.9696 and hit 0.9672 earlier today. The bias remains bearish in nearest term testing 0.9662. A clear break and daily close below that area could trigger further bearish pressure testing 0.9500 area. Immediate resistance is seen around 0.9750. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9910 my overall intraday bias remains strongly to the downside.

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May 31st, 2012 @ 7:01 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday, bottomed at 1.5470 and hit 1.5461 earlier today. The bias remains bearish in nearest term testing 1.5400 before testing 1.5270. Immediate resistance is seen around 1.5515/25. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.5650 my overall intraday bias remains strongly to the downside as a part of the bearish scenario after broke below the trend line support and EMA 200 and I still prefer to sell on rallies.

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May 31st, 2012 @ 6:55 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY continued its bearish bias yesterday, bottomed at 78.85 and hit 78.70 earlier today. The bias is bearish in nearest term testing 78.27. Immediate resistance is seen around 79.15. A clear break above that area could lead price to neutral zone in nearest term but only a clear break and daily close above 80.00 could stop the current bearish outlook.

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May 31st, 2012 @ 6:51 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bullish momentum yesterday, topped at 0.9716 and hit 0.9718 earlier today. The bias remains bullish in nearest term testing 0.9800. Immediate support is seen around 0.9670. A clear break below that area could lead price to neutral zone in nearest term but as long as stays above 0.9600 my overall intraday bias remains strongly to the upside and only a clear break back below 0.9500 can interrupt the current strong bullish outlook.

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May 30th, 2012 @ 4:44 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, fell below 1.2500 support level and hit 1.2456 earlier today. The bias remains bearish in nearest term testing 1.2400 – 1.2350 area. Immediate resistance is seen around 1.2500/30. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 1.2620/41 my overall intraday bias remains strongly to the downside as a part of the bearish scenario after broke below the descending triangle and 1.3000 support area.

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May 30th, 2012 @ 4:34 am by Setyo Wibowo

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EURJPY Forecast
The EURJPY continued its bearish momentum yesterday, broke below 99.23 and hit 98.93. The bias remains bearish in nearest term testing 98.00 – 97.00 area. Immediate resistance is seen around 99.50. A clear break above that area could lead price to neutral zone in nearest term testing 100.00 but as long as stays below 101.00 my overall intraday bias remains strongly to the downside and I still prefer to sell on rallies.

GBPJPY Forecast
The GBPJPY was indecisive yesterday but overall still able to maintain its bearish bias and hit a fresh low at 123.88. The bias is bearish in nearest term testing 123.25 as a part of the bearish scenario after broke below the triangle. Immediate resistance is seen around 124.50. A clear break back above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and as long as stays below 125.50 I still prefer to sell on rallies.

AUDUSD Forecast
The AUDUSD had another upside attempted yesterday, topped at 0.9896 but again, whipsawed to the downside and hit 0.9775 earlier today. The bias is bearish in nearest term testing 0.9662. On the upside, only a clear break above 0.9910 could interrupt the current short term strong bearish outlook.

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May 30th, 2012 @ 4:23 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was able to maintain its bearish bias yesterday, hit a fresh low at 1.5606. There are no changes in my technical outlook. The bias remains bearish in nearest term as a part of the bearish scenario after broke below the trend line support and EMA 200 testing 1.2600 – 1.2550/15 area. Immediate resistance is seen around 1.5650. A clear break above that area could trigger further bullish correction testing 1.5735 but any upside pullback now is normal and I still prefer a bearish scenario with sell on rallies strategy.

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