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2013 July

July 30th, 2013 @ 7:11 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF was corrected higher yesterday and hit 0.9324 earlier today. The bias is neurtral in nearest term. I still prefer a bearish scenario at this phase but a clear break and daily close above 0.9350 would interrupt the bearish scenario. On the downside, 0.9250 – 0.9180 remains the nearest bearish target.

usdchfhourly

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July 30th, 2013 @ 1:02 am by Mark De La Paz

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AUDUSD
Resistance: 0.9211 moderate / 0.9234 minor / 0.9257 minor
Support: 0.9177 minor / 0.9155 moderate / 0.9128 moderate

Monday saw another rejection from the 0.9300 level with Aussy closing back under the daily EMA lines an indicators showing a bearish divergence in stochastic while the macd indicator begins to top-off below the the zero line. In the lower time frames we have a confluence of bears with stochastic staying oversold while macds have pushed under the zero line in 4H charts though price action show a hammer form New York trade and the Wellington market. Hourly charts themselves also shows a confluence of bears with stochastic just crossing lower to join a bearish macd line. For the moment there is little conviction in Aussy with prices ranging from 0.9041 to 0.9300. That said we have building approvals numbers at 0130GMT where a poor figure could spark a follow through to yesterdays drop.

USDJPY
Resistance: 98.29 moderate / 98.53 minor / 98.86 moderate
Support: 97.96 minor / 97.65 moderate / 97.22 moderate

Attempts at a follow though to the symmetric triangle and subsequent double top breakout failed at the 97.65, 50 Fib retracement area of June rally. in the end we have a hammer or dragonfly doji from Mondays candle though daily indicators remain bearish as stochastic stay oversold while macd is dropping. From the lower time frames we have mixed signals as stochastic see a bullish divergence in 4H charts and a new bullish crossover in macd even as hourly indicators appear mixed with stochastic coming off overbought areas though macd is rising. We appear to have lost bearish momentum with the bounce off 50 Fib suggesting a turn around may be in the offing. For now we prefer looking for a turn-around a push past 98.29 ought to-signal a rally back to the bearish daily EMA’s.

Silver
Resistance:19.91(94) moderate / 20.13 moderate / 20.36 moderate
Support: 19.66 moderate / 19.45 minor / 19.25 moderate

Silver was unable to hold on to its bounce off the bullish trend line from June 28 lows opening the week with a rejection from the bearish EMA lines and seeing a long wick in daily charts. Among indicators we still have a bearish daily stochastic, poised to push oversold while the macd continues to head up looking for a push above the zero line. In intradaycharts we are seeing a confluence of bears with stochastic poised to push oversold and macd’s heading lower. Hourly charts for their part has stochastic coming off oversold areas while macd is looking to push higher. Immediate risk calls for a push higher with a break of 19.94 the 21D EMA acting as a bullish entry though we do not suggest holding on to trades for a swing.

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July 29th, 2013 @ 6:02 am by Setyo Wibowo

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EURUSD Forecast

The EURUSD had a bullish momentum last week topped at 1.3296. Price is still in a bullish phase testing a trend line resistance as you can see on my daily chart below located around 1.3330/50 which could be an important/key resistance at this phase. A clear break and daily close above that area could continue the bullish scenario testing 1.3400 or higher. Immediate support is seen around 1.3250. A clear break below that area could trigger further bearish pullback but as long as stays below 1.3170 the current bullish phase should remains valid.

eurusddaily

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July 29th, 2013 @ 5:57 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD continued its bullish momentum last week topped at 1.5433. Despite hesitation to move consistently above 1.5400, as long as stays above 1.5300 the current bullish phase should remain valid testing 1.5480 key resistance area (daily EMA 200). Immediate support is seen around 1.5350. A clear break below that area could trigger further bearish pullback but only a clear break and daily close below 1.5300 could interrupt the current bullish outlook.

gbpusddaily

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July 29th, 2013 @ 5:53 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bearish momentum last week and hit 97.63 earlier today. Like I said on Friday, a clear break below 98.50/00 could be an early signal of a bearish reversal scenario testing 96.70. The bias is bearish in nearest term. Immediate resistance is seen around 98.30. A clear break above that area could lead price to neutral zone in nearest term but overall I still prefer a bearish scenario at this phase.

usdjpydaily

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July 29th, 2013 @ 5:47 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF continued its bearish momentum last week bottomed at 0.9263. The bias remains bearish in nearest term testing 0.9250 – 0.9180. Immediate resistance is seen around 0.9300. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9350 – 9.9400 I still prefer a bearish scenario at this phase.

usdchfhourly

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July 28th, 2013 @ 4:35 pm 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 readers.

In the previous EUR/USD forecast we noted that 1.32 needs to be taken down before any bullish trend can be expected. Bearish momentum might see 1.3060 function as a support. The bullish inclination of gold would probably add some weakening pressure to the US dollar for now and hence we should pay attention to the price of gold.

20130728-190148.jpg

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair tested the resistance of 1.3280 as I mentioned in my EUR/USD update on the 24th July.

The resistance of 1.3280 had resisted the bullish pressure on the last two days of the trading week and hence we should pay attention on this region for the upcoming week. The extended bullish resistance will likely be 1.34.

Observation of the price action of the currency pair suggests possible bearish support at 1.3180 / 1.3120.

We do note that the EUR/USD is bullish for the third week now.

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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July 27th, 2013 @ 4:24 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 readers.

In the previous AUD/USD forecast we noted that any bearish momentum would need to test the immediate support of 0.9080. The immediate resistance would probably be 0.9320. From a fundamental point of view, the US Federal Reserve indicated that stimulus would continue until economic conditions were stable. China removed the lower limit on lending rates in an effort to spur economic growth. This may improve the outlook as lower lending rates means easier conditions for the businesses.

20130727-191328.jpg

Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair did test the resistance of 0.9320 as mentioned.

The bollinger bands setup for this currency pair remains very useful for our analysis as they were generally influential. Observation suggests resistance remains at 0.9320 and bearish momentum will face support at 0.9130.

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.

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