Forex Academy Quick Links:
Language:
English

2013 October

October 28th, 2013 @ 9:14 am by William Gilday

Click here to read the full article.

The daily chart is bearish on the large picture

Price Action Chart EUR/NZD

Price Action Chart EUR/NZD

so we would like to stay with that trend however it looks like all the other three time frames are in a correction. So on the daily chart we were able to place the ABCD boundary with our fib tool. So A is currently at the 1.7300 price level and B is at the 1.600 price level and that is where our fib was placed as you can see on the chart. We have the pullback which is C on the chart at the 50% fib so we would look for a bearish candlestick pattern to take this pair short to the D extension at 1.5200. This is the set up if you are trading the daily chart and also the big picture of the pair. We now look at the 2 Hour chart that is showing a bullish move to the upside as we have no place to put our fib on the chart, so I placed a trend line to see if it breaks to the down side below the trend line for a possible short or a retest and or a long trade. The 1 Hour chart is also very bullish and there is no place to fib this chart at the moment so I placed a trend line to see it break to the down side as the 200 EMA is below price at 1.6340 and current price is at 1.6654. The 15 minute chart is what I am watching closely as I had to place a trend line and I also placed a reverse fib to see if price will pull back to a fib level and continue to be bullish for a possible long trade. The price I am looking for is the 1.6600. Now is the waiting time just wait for price to make the move, must be patient.

Click here to read the full article.

October 28th, 2013 @ 6:44 am by Setyo Wibowo

Click here to read the full article.

EURUSD Forecast    

The EURUSD continued its bullish momentum last week topped at 1.3832. The bias remains bullish in nearest term testing 1.3850 – 1.3935. Immediate support is seen around 1.3750. A clear break below that area could lead price to neutral zone in nearest term testing 1.3700 but any downside pullback now is normal and as long as stays above 1.3500 I still prefer a bullish scenario at this phase.

eurusddaily

Click here to read the full article.

October 28th, 2013 @ 6:38 am by Setyo Wibowo

Click here to read the full article.

GBPUSD Forecast

The GBPUSD was indecisive last week. Overall price is still in a major bullish outlook but need a clear break above 1.6259 – 1.6300 strong resistance area to continue the bullish scenario. The bias is neutral in nearest term. Important intraday range to be closely watched between 1.6259 – 1.6100. A clear break and daily close below 1.6100 could trigger further bearish pullback testing 1.6000 – 1.5950 key support. On the upside, a clear break above 1.6259 – 1.6300 could trigger further bullish scenario testing 1.6380 (January’s high).

gbpusddaily

Click here to read the full article.

October 28th, 2013 @ 6:35 am by Setyo Wibowo

Click here to read the full article.

USDJPY Forecast

The USDJPY had another indecisive movement last week. Price attempted to push lower but again, failed to make a clear break below the trend line support and 97.00. The bias is neutral in nearest term probably with a little bullish bias testing 98.00 – 98.50. Immediate support is seen around 97.30. A clear break below that area could trigger further bearish pressure retesting the trend line support and 97.00 key support area. My major technical outlook remains unclear.

usdjpydaily

Click here to read the full article.

October 28th, 2013 @ 6:31 am by Setyo Wibowo

Click here to read the full article.

USDCHF Forecast

The USDCHF continued its bearish momentum last week bottomed at 0.8889. The bias is bearish in nearest term testing 0.8850. Immediate resistance is seen around 0.8967. 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.

usdchfhourly

Click here to read the full article.

October 28th, 2013 @ 1:53 am by Mark De La Paz

Click here to read the full article.

NZDUSD
Resistance: 0.8303 moderate / 0.8333 moderate /0.8359 moderate
Support: 0.8272 minor / 0.8247 moderate / 0.8228 moderate

Kiwi saw a sharp sell-off last week with sustained losses taking within distance of the 38.2 Fib retracement level for the September rally. Among indicators we have daily stochastic in oversold levels while macd is dropping and prices are already inside the daily EMA’s having crossed 21D and 34D EMA previously while 55D EMA is right around the 38.2 Fib at 0.8228.In the 4H picture we have stochastic oscillating around the oversold threshold indicative of a bear trend along with the bearish macd’s. Hourly charts for their part has stochastic poised to go overbought and macd’s bullish through prices have been consolidating. With the holiday in New Zealand we see little sense of urgency but proximity to the daily pivot at 0.8303 we are looking for a rejection, a sell-off to the the 38.2 fib at 0.8228, also the 55DEMA.

AUDUSD
Resistance: 0.9600 minor / 0.9623 moderate / 0.9643 moderate
Support: 0.9569 moderate / 0.9534 moderate / 0.9500 psychological

Aussy has seen confused price action since Thursday high wave doji, with Friday seeing minimal ranges to underscore the potential change in trend. That said we have yet to see the daily EMA lines, while indicators are still bearish with stochastic pushing oversold and macd’s getting a new bear cross. From the lower time-frames we are seeing the indecision underscored by stochastic crossing and a bearish 4H macd even as we have hourly stochastic barely staying overbought at risk of a bear cross even as macd’s have followed up. For now we retain a bullish medium term view for the Aussy given improved external conditions while policy changes on the fiscal side is also seen boosting the domestic economy. The preferred course of action remains to be a buy on dips to the 21D EMA at 0.9534.

GBPUSD
Resistance: 1.6187 moderate / 1.6213 minor / 1.6238 minor
Support: 1.6155 minor / 1.6215 moderate / 1.6096 moderate

Cable spent the past week in a range play though we have a double top forming over the last six weeks, the second top made out of our range play. Daily indicators has mixed signals with stochastic coming out of overbought levels while macd is flat above the signal line. In intraday charts we are seeing mixed signals with 4H stochastic crossing up while macd is below the signal line. Hourly charts for their part has a confluence of buys with stochastic poised to push overbought and macd’s also crossing up. Despite the big picture double top in the making it appears GBPUSD is likely to continue with the ranging action for the past week until we see an external catalyst. Still we prefer a sell on rallies off the 1.6260 region. Take too long to push higher and we may consider shorts off the daily pivot at 1.6187.

Click here to read the full article.

October 27th, 2013 @ 1:57 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 readers.

In the previous EUR/USD forecast we noted that the currency pair was bullish and the failure of the resistance of 1.36 would probably suggest an extended target of 1.38. From a fundamental point of view, the resolution of the US debt ceiling crisis and government shutdown brought about positivity to the markets. This probably spurred risk taking activities.

20131027-183031.jpg

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair did hit the extended bullish target of 1.38. I love it when my chart works. Nothing is more wonderful than seeing the currency pair unfolds according to plan on the chart. And of course seeing my readers make money too!

The 1.38 line will be the resistance to watch out for in the upcoming trading week. If it fails, I will be expecting a possible extended bullish target of 1.4. This region is likely to be a strong resistance.

Any bearish correction is likely to target the Immediate support of 1.3680 and 1.3620.

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.

October 26th, 2013 @ 4:00 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 readers.

In the previous AUD/USD forecast we noted that the immediate resistance was 0.9680 while the immediate support was 0.9520. The US dollar was weakening as the markets sold USD in favor of higher yielding assets. China is a star of late and is bringing the Aussie dollar along for the ride.

20131026-130753.jpg

Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair managed to breach the resistance mentioned monetarily. However as observed, the momentum failed shortly and the currency pair dipped past the resistance turned support and is now headed towards the support of 0.9520.

It is worthwhile to note that the middle bollinger band lies in the 0.9520 vicinity too, further increasing the likelihood of a support effect. Any bullish return may target the week’s high at 0.9740.

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.

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