Forex Academy Quick Links:
Language:
English

2013 February

February 12th, 2013 @ 9:24 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. Price slipped above 0.9200 but still unable to make a clear break above that area so far. The bias remains neutral in nearest term. Key intraday resistance remains around 0.9200. A clear break and daily close above that area could trigger further bullish pressure testing 0.9250 0r higher. On the downside, a clear break and daily close below 0.9150 could trigger further bearish pressure testing 0.9100 or lower. Overall I still prefer a bearish scenario.

Click here to read the full article.

February 12th, 2013 @ 1:55 am by Mark De La Paz

Click here to read the full article.

USDJPY
USDJPY 4-Hour ChartResistance: 94.46 minor / 94.94 moderate / 95.70 minor
Support: 94.08 strong / 93.73 minor / 93.42 minor

After spending most of the New York trade in tight range play we have USDJPY rallying in Wellington trade to close above the key resistance level at 94.08. Among indicators the sudden move and bullish close has drag daily stochastic into a new bullish cross heading for overbought levels while macd’s have also crossed up. Intraday we have buy signals as 4H and hourly macd heads up while stochastic for the latter is already oscillating around 80 to suggest a nice bullish trend. With the close above 94.08 on a daily basis we have pushed past the 38.2 Fib retracement for the sell-off since 2007. For now we prefer looking for some base building above the 94.08 price point with buys to be taken going into the open of European markets. Note this compltetely invalidates our view on forming a 4H SHS.

EURJPY
EURJPY Hourly ChartResistance: 126.62 minor / 127.08 minor / 127.83 strong
Support: 126.04 minor / 125.58 minor / 124.52 minor

Monday saw EURJPY rally despite weakness in equity markets and concern over Japanese jaw boning of the Yen ahead of the G20 meeting this weekend. It appears that market has been technical bouncing off the 21D EMA and strong support at the 123.16 region, at the moment we are forming a possible broadening pattern in 4H charts. Looking at indicators we have a mixed view in the daily charts with stochastic heading up and macd bearish. From the 4H picture we have an overbought stochastic and rising macd while hourly charts has stochastic oscillating around 80 and macd’s heading up. Immediate risk calls for further gains particularly with a flag in the hourly charts with a target of 128.24. For now look to trigger the hourly flag though we expect limited topside given the strong resistance at 127.83.

EURUSD
EURUSD Daily ChartResistance: 1.3405 strong / 1.3458 minor / 1.3496 minor
Support: 1.3351 minor / 1.3297 moderate / 1.3265 strong

Monday’s turn-around following the inverted hammer in daily charts appears to have had limited upside with price action constrained with the daily EMA lines still. Daily indicators has stochastic remaining oversold while the macd indicator is bearish. In the 4H picture we have a confluence of buys as macd’s cross-up chasing the stochastic while price action has been indecisive. Hourly charts for their part has stochastic at risk of crossing lower while macd is flat above the signal. Given the mixed signals we prefer looking for a real breakout, an hourly close above the daily EMA line at 1.3425 may be seen as a bullish entry.

 

GBPUSD
GBPUSD 4-Hour ChartResistance: 1.5673 minor / 1.5695 minor / 1.5721 moderate
Support: 1.5631 moderate / 1.5596 moderate / 1.5572 moderate

Monday saw Cable getting rejected from the 21D EMA completely reversing the gains from Thursday and Friday. Indicators wise we have daily stochastic heading for oversold areas while the macd is poised to cross lower. In 4H charts we have an oversold stochastic while macd is dropping. Hourly indicators for their part has a bullish divergence and macd’s are crossing. Immediate risk calls for a technical correction though we prefer a sell on rallies. Consider shorts off 1.5695 preferably the 38.2 Fib at 1.5721. Alternative entry will be a close below 1.5631. Note we have just begun with our multiweek sell-off for GBPUSD following our weekly double top breakout from three weeks back.

Click here to read the full article.

February 11th, 2013 @ 10:17 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast    
The EURUSD was corrected lower last week bottomed at 1.3352. The bias is bearish in nearest term testing 1.3300. The major bullish scenario should remain valid as long as price stays inside the bullish channel but price is in a bearish correction phase now with key support around the lower line of the bullish channel. Immediate resistance is seen around 1.3430. 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 back above 1.3485 – 1.3500 to potentially end the bearish correction phase.

Click here to read the full article.

February 11th, 2013 @ 10:14 am by Setyo Wibowo

Click here to read the full article.

GBPUSD Forecast
The GBPUSD continued its bullish momentum on Friday slipped above 1.5800 but whipsawed to the downside earlier today hit 1.5702. The bias is bearish in nearest term testing 1.5650/00. Immediate resistance is seen around 1.5750. A clear break above that area could lead price to neutral zone in nearest term testing 1.5800 or higher. Overall I still prefer a bearish outlook as a part of the false breakout bearish scenario.

Click here to read the full article.

February 11th, 2013 @ 10:13 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast
The USDJPY was indecisive last week but overall still able to maintain its bullish outlook. The bias is neutral in nearest term. Immediate resistance is seen around 93.30 followed by 94.00. Immediate support is seen around 92.50 followed by 92.00. Overall I remain bullish.

Click here to read the full article.

February 11th, 2013 @ 10:10 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast
The USDCHF was corrected higher last week topped at 0.9200. The bias is neutral in nearest term. Overall I still prefer a bearish scenario. Key intraday resistance is seen around 0.9200. A clear break and daily close above that area could trigger further bullish pressure testing 0.9250 or higher. Immediate support is seen around 0.9150. A clear break below that area could trigger further bearish pressure testing 0.9100 or lower.

Click here to read the full article.

February 11th, 2013 @ 2:02 am by Mark De La Paz

Click here to read the full article.

AUDUSD
AUDUSD Daily ChartResistance: 1.0326 minor / 1.0344 strong / 1.0386 moderate
Support: 1.0296 moderate / 1.0275 moderate / 1.0255 minor

Given our close we have confirmed our weekly double top breakout with prices still well under the 1.0344 trigger, now a strong resistance area despite Friday’s bounce and bullish engulfing. Indicators wise we have a mixed view as stochastic has come-off oversold levels while macd continues to head lower. Note we have a holiday hit Asian market while calendars show little possible catalyst. In the lower time frames we have mixed signals as well in the 4H picture while stochastic has a bearish bias in the hourly level in line with macd’s opening lower. Given the holidays we prefer remaining sideline in thin markets though a rejection from 1.0344 once more may be tradable with limited expectations at most a test of Friday’s lows.

NZDUSD
NZDUSD Daily ChartResistance: 0.8364 minor / 0.8391 moderate / 0.8413 moderate
Support: 0.8338 minor / 0.8323 minor / 0.8297 moderate

Friday saw Kiwi with a technical correction following sharp losses the prior two trading days and rejection from the key resistance at 0.8480. Indicators has macd heading lower while stochastic has crossed up and prices are between the daily EMA lines. Note NZDUSD has been on a range play since the start of the year though its floor is porous. In the lower time frames we have mied signal in 4H charts as macd crosses up while stochastic still points lower, Friday’s bounce appear to have taken us to the 50 Fib area. Hourly charts for their part has stochastic crossing lower and macd’s flat. For now we prefer getting a bear market though the Chinese and Japanese absence would suggest that we don’t have liquidity for a big move. We are looking for a bearish breakout of the range play from January.

EURUSD
EURUSD Daily ChartResistance: 1.3381 minor / 1.3405 strong / 1.3455 minor
Support: 1.3351 minor / 1.3297 moderate / 1.3265 strong

Friday saw an inverted hammer in EURUSD suggesting that bearish momentum has been lost though we also have a break into the range play from mid-January and prices are inside the daily EMA lines. Among indicators we have daily stochastic oversold and macd heading lower though holidays in Asia means little action is to be expected. Intraday we have a similarly bearish picture in 4H charts with stochastic oversold and macd dropping. Hourly charts for their part has a confluence of buys with macd just opening up though stochastic is at risk of a bear cross. With the mixed intraday charts and inverted hammer in the daily’s we prefer waiting for a close above 1.3405 before going long.

GBPUSD
GBPUSD Daily ChartResistance: 1.5820 moderate / 1.5847 moderate / 1.5885(91) moderate
Support: 1.5777 moderate / 1.5741 minor / 1.5715 minor

With the two day rally, Thursday and Friday, we have Cable closing the week just under its previous weekly double top breakout point. At the moment we have prices just around the 21D EMA 1.5805 with the pattern trigger at 1.5820. Indicators has stochastic poised to push overbought while macd is rising in the daily picture. From the 4H picture we have mixed signals with stochastic coming off overbought levels while macd is pointing up. In hourly charts we have stochastic poised to push overbought while macd has just crossed lower. With the holidays and clean economic calendar we are unlike to see huge price action that said the series of moderate resistances makes for a possible sell on rallies to 1.5820 and 1.5847.

Click here to read the full article.

February 10th, 2013 @ 2:06 pm by The Geek

Click here to read the full article.
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 EUR/USD forecast we noted that the resistance of 1.36 was hit and if bullish momentum continued we might see 1.38. Economic data for the Euro Zone was generally positive, adding to the risk on sentiments.

20130210-082423.jpg

Technical Analysis

Looking at the EUR/USD daily chart above we note that the bullish momentum stopped. The currency pair reached its peak at 1.36++ and dipped hard from immerse bearish pressure. The immediate support will be the previous consolidation region of 1.3320. As usual monitor the EUR/USD at the start of the new trading week.

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.

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