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2013 February

February 27th, 2013 @ 7:51 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another indecisive movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Selling around the upper line of the bearish channel remains a good idea with a tight stop loss above 0.9350 as a clear break and daily close above that area could be an early signal of a bullish reversal scenario. Important intraday range remains between 0.9350 – 0.9250. We need a clear break from that range area to see clearer direction.

usdchfdaily

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February 27th, 2013 @ 1:57 am by Mark De La Paz

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EURUSD
Resistance: 1.3071 minor / 1.3120 moderate / 1.3168 minor
Support: 1.3018 strong / 1.3000 psychological / 1.2964 minor

After the Berlusconi driven sell-off Monday we have EURUSD turning out a high wave doji yesterday with finding support at the approach of the psychological 1.3000 area. Daily indicators have stochastic in oversold levels while macd is dropping. Intraday we are seeing mixed signals the 4H stochastic crossing down while macd bottoms up and in hourly charts stochastic is coming out of overbought areas while macd is opening higher. With mixed signals in intraday charts we are not inclined to take any immediate action though the loss of bearish momentum as suggested by the daily doji has us looking for a possible bounce, perhaps just off the psychological support area at 1.3000.

GBPUSD
Resistance: 1.5152 moderate / 1.5193 moderate / 1.5217 minor
Support: 1.5113 minor / 1.5069 moderate / 1.5000 psychological

Attempts to get a follow through to monday’s gap covering failed Tuesday with Cable selling off in midday European trade. This follows the broader risk averse theme with markets getting hit by the Italian election and approaching sequestration in the US. Among indicators we have daily macd heading lower though stochastic has taken a peek from oversold areas while the gap between prices and the EMA lines have widened. Intraday we have mixed signals with stochastic oversold and macd above the signal line for 4H charts. In the hourly level we have a bearish macd while stochastic is poised to cross lower. Given the fundamental issues hounding the UK we prefer looking for shorts until 1.5000. Consider a sell on rallies to 1.5193 or on an hourly push below 1.5113.

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February 26th, 2013 @ 8:18 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD attempted to push higher yesterday slipped above 1.3300 but whipsawed to the downside and hit 1.3017 earlier today. As you can see on my daily chart below price broke below the bullish channel and slipped below the EMA 200 suggests a bearish reversal scenario especially if price able to make a clear break and daily close below 1.3000 testing 1.2950/00 area or lower. The bias is bearish in nearest term. Immediate resistance is seen around 1.3100. A clear break above that area could lead price to neutral zone in nearest term testing 1.3150 but as long as stays below 1.3300 I prefer to sell on rallies.

eurusddaily

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February 26th, 2013 @ 8:17 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was corrected higher yesterday and hit 1.5218 earlier today. The bias is neutral in nearest term. I still prefer a bearish scenario but need a clear break at least back below 1.5130 to keep the bearish scenario remains strong testing 1.5050/00. On the upside, only a clear break back above 1.5300 could interrupt the bearish outlook.

gbpusdweeklychart

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February 26th, 2013 @ 8:16 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a huge movement yesterday. Price attempted to push lower, bottomed at 90.87, closed higher at 92.35. The bias is bearish in nearest term testing 90.20. I still prefer a bullish scenario but price is in consolidation phase now. Immediate resistance is seen around 92.70 – 93.00 which needs to be clearly broken to the upside to keep the bullish scenario remains strong.

usdjpydaily

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February 26th, 2013 @ 8:14 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was volatile but indecisive yesterday. The bias is neutral in nearest term. Selling around the upper line of the bearish channel remains a good idea with a tight stop loss above 0.9350 as a clear break and daily close above that area could be an early signal of a bullish reversal scenario. Important intraday range is seen between 0.9350 – 0.9250. We need a clear break from that range area to see clearer direction.
usdchfdaily

 

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February 25th, 2013 @ 7:17 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bearish momentum last week but unable to stay consistently below 1.3170 so far and back above 1.3200 earlier today. The bias is neutral in nearest term probably with a little bullish bias testing 1.3300 area. Price is in a critical point. On the downside, a clear break and daily close below 1.3170 could trigger further bearish pressure testing 1.3100 – 1.3050 and 1.3000 psychological level. On the upside, a clear break and daily close above 1.3300 could interrupt the bearish phase and keep the bullish scenario remains intact.

eurusddaily

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February 25th, 2013 @ 7:15 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum last week bottomed at 1.5071. The bias is bearish in nearest term testing 1.5000. Immediate resistance is seen around 1.5250. A clear break above that area could lead price to neutral zone in nearest term but overall I still prefer a bearish scenario.

gbpusdweeklychart

 

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