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2013 February

February 18th, 2013 @ 5:13 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum last week bottomed at 1.5460. The bias remains bearish in nearest term testing 1.5400 or lower. Immediate resistance is seen around 1.5550. A clear break above that area could lead price to neutral zone in nearest term testing 1.5600 but overall I still prefer a bearish outlook as a part of the false breakout bearish scenario.

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February 18th, 2013 @ 5:09 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY regained its bullish momentum last week and slipped above 94.00 earlier today. The bias is bullish in nearest term testing 94.50 – 95.00 area. Immediate support is seen around 93.65. A clear break back below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and overall I remain bullish.

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February 18th, 2013 @ 5:08 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bullish momentum last week and hit 0.9257 earlier today. The bias is bullish in nearest term testing 0.9300/50. Immediate support is seen around 0.9200. A clear break below that area could lead price to neutral zone in nearest term. I still prefer a bearish scenario but need a clear break and daily close at least below 0.9150 to keep the bearish scenario remains strong.

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February 18th, 2013 @ 1:56 am by Mark De La Paz

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NZDJPY
NZDJPYDaily ChartResistance: 79.81 minor / 80.00 moderate / 80.27 minor
Support: 79.36 moderate / 78.89 moderate / 78.45 moderate

Kiwi Yen saw a mixed close in the daily charts Friday though the spinning tops were enough to keep us above the weekly breakout point, 77.27 61.8 Fib retracement of the sell-off from July of 2007. With New Zealands data of late surprising on the upside while the Japanese are getting little flack on the yen we expect NZDJPY to see sustained gains of the next few weeks. At this point we have daily stochastic pushing back up to overbought levels while macd is flat below the signal line. Intraday we have a confluence of buys from macd and stochastic, the latter pushing overbought. Hourly charts for their part is poised to push overbought. We prefer a buy on dips approach to 79.36 though a daily close above 80.00 should also be seen as a bullish entry.

USDJPY
USDJPYDaily ChartResistance: 94.46 moderate / 94.80 minor / 95.00(04) strong
Support: 93.86 minor / 93.31 minor / 92.96 moderate

A reuters leaked draft of the G20 statement managed to reverse earlier weakness in the Yen pairs Friday to eventually see USDJPY with a long tail and decent body for the daily candle. In the ened despite the pullback for much of the past week we still have a higher low in USDJPY with the object now, making a run for the 95.00(04) psychological resistance, and June 2010 highs. Among indicators we have finally broker the bearish divergence in daily charts with stochastic now poised to push overbought while macd is bearish. We also have a bounce off the 21D EMA. Note G20 statement over the weekend is actually supportive of Japanese efforts to reflate the economy, merely calling for Japanese officials to stop jawboning the Yen down. Intraday we have a confluence of buys with hourly stochastic poised to push overbought while in the 4H level we have it reentering overbought areas even as macd is bullish in both times. Look for a close above 93.86 as an excuse for going long.

AUDUSD
AUDUSD Daily ChartResistance: 1.0296 moderate / 1.0321 minor / 1.0344 strong
Support: 1.0273 moderate / 1.0241 minor / 1.0202 minor

At the close we have Aussy with a high wave candle in the weekly charts suggesting bearish momentum has been lost though we also managed to pullback under the weekly double top breakout point, 1.0344, keeping the pattern valid. Among indicators we have macd under the signal line though lacking slope while daily stochastic has just come off overbought areas. Thus far we have tried to ease off with earlier releases showing a poor motor vehicle sales figure at -2.4%. From the lower time frames we have a mixed view as 4H stochastic and macd are bearish, the fore former oversold. This as hourly charts see a bullish divergence in stochastic while macd is heading down. Look for shorts coming off 1.0297, preferably 1.0344 a strong resistance. Alternatively a close under 1.0273 is also a bearish entry.

EURUSD
EURUSD 4-Hour ChartResistance: 1.3353 moderate / 1.3375 minor / 1.3403 strong
Support: 1.3306 moderate / 1.3265 strong / 1.3224 minor

Friday tunred out to be a high wave spinning top, suggesting a loss of bearish momentum as prices hit the 55D EMA, a moderate support. Indicators wise we still have a confluence of bears from the daily picture with stochastic poised to push oversold while macd is dropping, we now have a lower high and lower low in the daily price charts. Intraday we have a confluence of bears in the making for 4H charts with stochastic crossing lower and macd’s under the signal line. Hourly charts has stochastic pushing oversold and macd crossing lower. Note we have ECB Pres. Mario Draghi testifying before the EU Parliament(1430GMT), look for a possibly dovish tone given recent comments and an excuse to eventually break lower. Consider shorts from just under 1.3353 near the European open or on a close below 1.3306. Ideally we want to come off 1.3403.

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February 17th, 2013 @ 11:49 am by The Geek

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TheGeekKnows.com  Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders and koalas.

In the previous EUR/USD forecast we noted that the EUR/USD was bearish and the immediate support might be the previous consolidation region of 1.3320. There were talks recently of the stronger value of the EUR/USD hurting exports. Such dovish comments might affect sentiments.

20130217-182142.jpg

Technical Analysis

Looking at the EUR/USD chart above we noted that the currency pair attempted to recover right up to the mid week. After which the EUR/USD was overwhelmed by bearish pressure and tested the 1.3320 mentioned last week. I love it when my chart works :) Now if the bearish pressure continues, a failure of 1.3320 may bring us to 1.3250. A bullish correction will likely see some resistance at 1.3400 first. We are also on the support region of a longer term bullish trend line and hence it will be crucial to monitor the price action here.

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 16th, 2013 @ 5:42 pm by The Geek

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Simultaneous Release at

TheGeekKnows.com  Learn Forex Trading and read exclusive EUR/USD Forecast and AUD/USD Forecast Reviews.

Good day forex traders and koalas.

In the previous AUD/USD forecast we noted that the bearish momentum has been around for sometime now. With the failure of 1.03660 , the next bearish target and immediate support will be 1.0230. The Reserve Bank of Australia RBA was reported to have lowered the growth forecast of the Australian economy. We might see the dip play out before recovery.

20130216-215111.jpg

Technical Analysis

Looking at the AUD/USD daily chart above we note that the 1.0230 target was hit! I love it when my targets work :) ok I am going to keep my shameless self praise short. Now what do we have here? We do see a retracement in action and without doubt if bearish momentum continue, the 1.0230 region will probably be crucial. A point to note is the extreme bearish action on the last day of the week. Should 1.0230 fail, the next bearish target will probably be 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.

Click here to read the full article.

February 15th, 2013 @ 3:41 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bearish momentum yesterday bottomed at 1.3314. The bias remains bearish in nearest term testing 1.3250 area. Immediate resistance is seen around 1.3380. A clear break above that area could lead price to neutral zone in nearest term testing 1.3430/50 but need a clear break and daily close above 1.3500 to potentially end the current bearish correction phase. As long as stays inside the bullish channel the major bullish outlook should remain valid.

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February 15th, 2013 @ 3:40 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday bottomed at 1.5473. There are no changes in my technical outlook. The bias remains bearish in nearest term still testing 1.5450/00. Immediate resistance remains around 1.5550/70. A clear break back above that area could lead price to neutral zone in nearest term but as long as stays below 1.5700 I still prefer a bearish intraday outlook as a part of the false breakout bearish scenario.

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