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2013 October

October 14th, 2013 @ 7:21 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD was indecisive last week but overall still able to maintain its bearish correction bias after fell from 1.6259. Key support remains around 1.5950. A clear break and consistent movement below that area could interrupt the major bullish outlook and could be an early signal of a bearish reversal scenario. On the upside, we need a clear break at least above 1.6000 – 1.6050 to keep the bullish scenario remains strong.

gbpusddaily

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October 14th, 2013 @ 7:11 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bullish momentum last week after found a good support at the trend line as you can see on my daily chart below. The bias is bullish in nearest term testing 99.00. Immediate support is seen around 98.10. A clear break below that area could lead price to neutral zone in nearest term testing 97.80 – 97.50. My major technical outlook is neutral.

usdjpydaily

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October 14th, 2013 @ 6:57 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had a bullish momentum last week but still unable to break above 0.9140. The bias is neutral in nearest term. Important intraday range to be closely watched is seen between 0.9080 – 0.9140. A clear break above 0.9140 could trigger further bullish pressure testing 0.9200 or higher. On the other hand, a clear break below 0.9080 could trigger further bearish pressure testing 0.9040 – 0.9000.

usdchfhourly

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October 13th, 2013 @ 3:10 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 AUD/USD and EUR/USD forecasts, we noted that the immediate regions were strong support and resistance regions technically. We might experience resistance on any bullish momentum. Fundamentally the markets remained on the edge akin to students awaiting for the final year examination results! The US government shutdown and upcoming debt ceiling deadline remained drivers of apprehension.

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Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair remains weighted down by bearish pressure as the currency pair approached a previous high. The bullish momentum was slowing down as the week ended. Should it clear the high point, we may expect further bullish advances.

I like how the bollinger bands are working for our technical analysis and the immediate support may be the middle bollinger band.

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Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair remains capped by the 1.36 resistance as mentioned on the previous EUR/USD forecast. This line continues to remain a strong point of reference for any continued bullish pressure.

Once again our bollinger bands are serving us adequately. Look out for the middle bollinger band to be functioning as possible support.

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

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October 11th, 2013 @ 1:33 pm by William Gilday

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USDCHF:  The daily chart is in a bearish trend as we have placed a fib and the pair is looking to continue to the downside just what we want. The 2 hour chart has the last 2 candles bullish and that is a good sign as we want the pullback so we can short this pair. The 1 hour chart is very nice it has bounced off the ABCD fib od the B level at 0.9070. The AB boundary is  a at price level at 0.9130 and we are looking for a pull back to C at a fib like the 61.8 and then go short to the D extension. The 15 minute chart is at a prime position as we have an ABCD and price now is at the C pullback at the 61.8 fibb , now we are looking for the bearish candle formation to take our short to the D extension at price level 0.9050.  10-11-2013 8-26-28 PM USDCHF NY SESSION

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October 11th, 2013 @ 9:57 am by William Gilday

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EUR/GBP:  The daily chart had a large pull back however the trend is bullish and we have seen over the last 10 days that we are resuming the uptrend. We are not able to place a fib as we do not have a higher high to complete the fib so we have an aggressive trend line and price is at 0.8350 and current price is at 0.8492. The 2 hour chart has been bearish and has just today made a breakout and is now making a higher high and has broken the trend line. So on this chart we will stay bullish. The one hour chart is very bullish at the moment as it has been sideways for hours and as the 2 hour chart has just made a breakout to the north. With a 3rd higher low. The 15 minute chart has a ABCD pattern and the AB is as follows The A is at price 0.8464 and the B is at price 0.8493. We are waiting for a fib pull back to the 61.8 which is C and then look for a bullish candle and take your long trade to the D extension at price level 0.8511.

Price action charts

Price action charts

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October 11th, 2013 @ 9:21 am by William Gilday

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GBPJPY:  The daily chart remains in the bullish trend and has come down to our aggressive trend line and has broken it two days ago and is now come back into the channel to the upside. The ABCD pattern is still alive and has retraced to C at price level 155.15 and heading for the D extension and has to break the B level at 159.84 first. The 2 Hour chart is not retraced yet so we are inside the AB boundary as A is at 154.74 and B is at price 157.51 needs a pull back to the C at the 61.8 fibb and look for a bullish pattern to go long if you are trading the 2 hour chart. The 1 Hour chart is doing well as we are in the AB boundary with A at 155.82 and B at price level at 157.48 and looking for the pull back to C witch we would like to see the fib at 61.8 and go to the D extension at 158.48 for take profit.  The 15 minute chart just looks sideways so we placed a support and resistance lines on the chart and hope to see a long break out with a retest to enter the market long as that is with the trend.10-11-2013 3-58-46 PM GBPJPY REVIEW

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October 11th, 2013 @ 8:07 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Price is struggling around 1.3550 at the time I wrote this comment. A clear break above that area could trigger further bullish pressure testing 1.3600 – 1.3700. On the downside, key support remains at 1.3450. A clear break below that area could be an early signal of a bearish reversal scenario.

eurusddaily

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