Forex Academy Quick Links:
Language:
English

2013 February

February 1st, 2013 @ 10:40 am by Setyo Wibowo

Click here to read the full article.

GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.5873 but whipsawed to the downside and hit 1.5807 earlier today. The bias is neutral in nearest term. Important intraday range to be closely watched is seen between 1.5880 – 1.5770 which need to be broken to see clearer direction. A clear break and daily close above 1.5880 could trigger further bullish pressure testing 1.5900 – 1.6000. On the other hand, a clear break and daily close below 1.5770 could trigger further bearish pressure testing 1.5700 region.

Click here to read the full article.

February 1st, 2013 @ 10:36 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast
The USDJPY continued its bullish momentum yesterday and hit 92.28 earlier today. The bias remains bullish in nearest term testing 92.50 – 93.00. Immediate support is seen around 91.70/60. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and overall I remain bullish.

Click here to read the full article.

February 1st, 2013 @ 10:32 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF continued its bearish momentum yesterday and hit 0.9040 earlier today. The bias remains bearish in nearest term testing 0.9000. Immediate resistance is seen around 0.9100. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9200 my overall intraday bias remains to the downside.

Click here to read the full article.

February 1st, 2013 @ 1:49 am by Mark De La Paz

Click here to read the full article.

USDCHF
USDCHF Daily ChartResistance: 0.9095 moderate / 0.9122 moderate / 0.9160 minor
Support: 0.9058 strong / 0.9025 minor / 0.8998 moderate

After the sharp sell-off Wednesday we had tight range in USDCHF yesterday with attempts to ease further seeing limited success. Note we are now just above the key support level of 0.9058 our floor since December while we also see a huge gap between prices and the EMA lines. The smaller range may also be seen as a sign of lost momentum though daily indicators continue to be bearish. In the lower time frames we have 4H macd bottoming out while stochastic is poised to cross up and form a bullish divergence even as candlesticks see a hammer and spinning tops. Hourly charts for their are mixed with stochastic heading lower and macd up. Given the strong support and lost bearish momentum a push back above the daily central pivot at 0.9095 can be seen as entry for the 0.9157 area, our projected high. We are looking at a strong NFP figure later on to push the dollar higher.

GBPUSD
GBPUSD 4-Hour ChartResistance: 1.5890 moderate / 1.5918 minor / 1.5952 minor
Support: 1.5847 minor / 1.5824 minor / 1.5767 moderate

Cable rallied further Thursday with prices pushing back above the weekly double top breakout point, 1.5824, als the 23.6 Fib of the sell-off from January 02. For the moment we have prices just under the previous weeks highs and the 21D EMA at 1.5890. Among indicators we have macd crossing up while stochastic has pushed to overbought levels. In the lower time frames we have 4H stochastic oscillating around 80 with a bullish macd while price action us loosing momentum. Hourly indicators has a confluence of buys with stochastic overbought though macd is topping off and price action has formed a double top. For now we prefer waiting for near the European open looking for shorts from just under 1.5890. Alternatively a close below 1.5847 in the hourly charts can be seen as a bearish entry.

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