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2013 February

February 25th, 2013 @ 7:13 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive last week but overall still able to maintain its bullish outlook. Price gapped higher earlier today slipped above 94.00. The bias is bullish in nearest term testing 94.50 – 95.00. Immediate support is seen around 94.00. A clear break below that area could lead price to neutral zone in nearest term, probably closing the gap testing 93.50/00 area but overall I remain bullish.

usdjpydaily

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February 25th, 2013 @ 7:10 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bullish momentum last week but still unable to break above the bearish channel so far as you can see on my daily chart below. The bias is bullish in nearest term but selling around the upper line of the bearish channel remains a good idea with a tight stop loss above 0.9350. Immediate support is seen around 0.9270/50. A clear break below that area could trigger further bearish pressure testing 0.9200 – 0.9150.

usdchfdaily

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February 24th, 2013 @ 2:43 pm by The Geek

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Good day forex traders and koalas.

In the previous EUR/USD forecast we noted a weak head and shoulders pattern that may result in a bearish target of 1.3100. Fundamentally we may be facing some adverse sentiments as fresh strikes erupt in Greece against the austerity measures. This serves to remind investors that the European region is still not out of the woods yet.
20130224-182317.jpg

 

 

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair did continue to be bearish. Taking out the resistance of 1.32 , it came close to our weak head and shoulders pattern bearish target of 1.3100. It has since retreated and the doji pattern suggests intense competition between the bears who want to take the EUR/USD lower and the bulls who see this region as an opportunity to buy in. I will not discount the possibility of an attempt to test 1.31 but caution is advised should the bulls manage to overcome.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the EUR/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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February 23rd, 2013 @ 2:26 pm by The Geek

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Good day forex traders and koalas.

In the previous AUD/USD forecast we noted a bearish momentum and the support region of 1.0230. The Australian economy seems to be entering a flat of sorts and it may be a while before we see a continued pickup.

 

20130223-220411.jpg

 

 

Technical Analysis

Looking at the AUD/USD daily chart above we noted that the 1.0230 held as a support for now. I love it when my support line works! :) Considering how the currency pair starts the new week, any continued bullish action will need to face the resistance region of 1.0360. 1.0230 remains the lower support followed by 1.0150.

Don’t miss the fundamental analysis
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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February 22nd, 2013 @ 5:31 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD continued its bearish momentum yesterday, slipped below the bullish channel as you can see on my daily chart below but still unable to make a clear break below 1.3170 so far. Price is in a critical technical point. The bias remains bearish in nearest term especially if price able to make a clear break below 1.3170 testing 1.3100 before challenging 1.3000 psychological level. Immediate resistance is seen around 1.3230. A clear break above that area could lead price to neutral zone in nearest term but need a clear break and daily close at least above 1.3300 to interrupt the current bearish phase and keep the major bullish scenario remains intact.

eurusddaily

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February 22nd, 2013 @ 5:29 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push lower yesterday bottomed at 1.5130 but whipsawed to the upside, closed at 1.5258 and hit 1.5319 earlier today. We have a hammer candle stick formation on daily chart suggest potential bullish correction warning. The bias is bullish in nearest term testing 1.5400. Overall I still prefer a bearish scenario at this phase but need a clear break at least below 1.5230 to keep the bearish scenario remains strong retesting 1.5130 or lower.

gbpusdweeklychart

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February 22nd, 2013 @ 5:28 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY slipped below 93.00 yesterday but still unable to make a clear movement below that area so far. The bias is neutral in nearest term. Overall I still prefer a bullish scenario. On the downside, a clear break and daily close below 93.00 could trigger further bearish pullback testing 92.50/00. On the upside, we need a clear break and daily close above 94.00 to keep the bullish scenario remains strong testing 94.50 – 95.00.

usdjpydaily

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February 22nd, 2013 @ 5:25 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bullish momentum yesterday but still found a good resistance at the upper line of the bearish channel as you can see on my daily chart below. Price is still in a bullish correction phase but selling around the upper line of the bearish channel is still a good idea with a tight stop loss above the bearish channel and 0.9350. Immediate support is seen around 0.9250/30. A clear break and daily close below that area could trigger further bearish pressure testing 0.9200 – 0.9150 and keep the bearish scenario remains intact.

usdchfdaily

 

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