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2013 October

October 24th, 2013 @ 6:08 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bearish momentum yesterday bottomed at 97.15. The bias remains bearish in nearest term but note that we need a clear break below the trend line support and 97.00 to continue the bearish scenario.  Immediate resistance remains around 98.00. A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear. My major technical outlook remains unclear.

usdjpydaily

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October 24th, 2013 @ 6:04 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF continued its bearish momentum yesterday bottomed at 0.8910. The bias remains bearish in nearest term testing 0.8900 – 0.8875 or lower. Immediate resistance is seen around 0.8930. A clear break above that area could lead price to neutral zone in nearest term testing 0.8967 or higher but any upside pullback now is normal and overall I still prefer a bearish scenario at this phase.

usdchfhourly

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October 23rd, 2013 @ 9:57 am by William Gilday

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Price action charts

Price action charts

The daily chart is bullish pair and we are currently bouncing off an aggressive trend line and current price is 0.8516. There is no action to take on the daily chart at this moment as we do not have a defined high for our ABCD set up. The 2 Hour chart is also bullish and has no defined high so I placed a 35 degree trend line to see if we can get a retest of that and look for a bullish pattern to continue to the upside. The 1 Hour chart we are able to place our ABCD on our chart and A is at 84.81 and our B is at 0.8528 and that is where we placed our fib So we have our B at 0.8528 and it has pulled back to the 50 % and has continued up but now is pulling back so no entry, as we might be late for this trade we will have to see what price does. We are looking for the bullish pattern to take to the D extension to 0.8556. for take profit. The 15 min chart is in a range and nothing we can do with this chart so I am waiting if I trade this trade I will do it off the 1 Hour chart.

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October 23rd, 2013 @ 9:21 am by William Gilday

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The daily chart is still in the AB boundary and has hit the B extension and is now retracing looks like it could come to the 50 % fib as it hit the 38.2 and retracing back. So if you were in trades off the daily chart wait for a bullish pattern and take it to the D extension take profit of 88.99.

NZDJPY Preview

The two hour chart has been bearish for the last 10 hours and there is no action to be taken till we can see a poven low and that would be 2 candles to the left and right. The 1 Hour chart is sideways to bullish so all we could do is place a couple of trend lines and hope to see a bounce off them, again the waiting game. There was a lot of price action in the early Asian session. The 15 minute chart we were able to place an ABCD boundary on the chart as A is at 81.39 and B is at 82.11 as C has pulled back to the 78.6 with a bull candle forming now so we will wait to see if there is a possible entry. I do not like that the other three time frames are in the same direction so this looks to a high risk trade at the moment. The D extension is at 82.55 for our take profit.

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October 23rd, 2013 @ 6:42 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD continued its bullish momentum yesterday and hit 1.3792 earlier today. The bias remains bullish in nearest term testing 1.3850. 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 1.3450 – 1.3500 I still prefer a bullish scenario at this phase.

eurusddaily

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October 23rd, 2013 @ 6:37 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD continued its bullish momentum yesterday and hit 1.6256 earlier today. The bias is bullish in nearest term testing 1.6259 – 1.6300 strong resistance area which need to be clearly broken to the upside to continue the bullish scenario. Immediate support is seen around 1.6200. A clear break below that area could lead price to neutral zone in nearest term testing 1.6150 but as long as stays above 1.6000 – 1.5950, price is still in a major bullish outlook.

gbpusddaily

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October 23rd, 2013 @ 6:32 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY failed to continue its bullish momentum yesterday and hit 97.26 earlier today. As you can see on my daily chart below price is testing the trend line support. The bias is bearish in nearest term. A clear break and daily close below the trend line support and 97.00 could trigger further bearish scenario testing 95.70. Immediate resistance is seen around 98.00 A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

usdjpydaily

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October 23rd, 2013 @ 6:29 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had a bearish momentum yesterday bottomed at 0.8939. The bias is bearish in nearest term testing 0.8900 – 0.8875. Immediate resistance is seen around 0.8967. A clear break above that area could lead price to neutral zone in nearest term but any upside pullback now is normal and only a clear break back above 0.9040 (hourly EMA 200) could interrupt the bearish outlook.

usdchfhourly

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