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2013 October

October 21st, 2013 @ 4:53 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD regained its bullish momentum last week topped at 1.6224. The bias remains bullish in nearest term testing 1.6259 – 1.6300 which could be a strong resistance at this phase as you can see on my daily chart below. Immediate support is seen around 1.6140. A clear break below that area could lead price to neutral zone in nearest term testing 1.6100 – 1.6060 region.

gbpusddaily

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October 21st, 2013 @ 4:47 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY attempted to push higher last week topped at 98.24 but closed lower at 97.73 in an indecisive market. The bias is neutral in nearest term probably with a little bearish bias testing the trend line support and 97.25 – 97.00 area. Immediate resistance is seen around 98.24. A clear break above that area could trigger further bullish pressure testing 99.00. My major technical outlook remains unclear.

usdjpydaily

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October 21st, 2013 @ 4:40 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF attempted to push higher last week topped at 0.9177 but whipsawed to the downside and closed lower at 0.9016. As you can see on my hourly chart below, we have a double top formation followed by a break below the EMA 200. The bias is bearish in nearest term testing 0.8967. Immediate resistance is seen around 0.9040. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9090 I still prefer a bearish scenario at this phase.

usdchfhourly

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October 20th, 2013 @ 2:27 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 forex forecasts for the AUD/USD and EUR/USD, we noted both currency pairs slowing down due to bearish resistance. Critical levels of resistance were observed which if breached, might bring further bullish momentum. From a fundamental point of view, the US debt ceiling crisis loomed over the markets, reducing trading ranges across many currency pairs.

20131020-201234.jpg

Technical Analysis

Looking at the AUD/USD daily chart above we note that the currency pair left the previous region behind and climbed further on the heels of bullish momentum.

We are now at another resistance level. Should the 0.9680 level fail, we may be looking at 0.9840 as an extended target. The immediate support probably lies at 0.9520.

20131020-201251.jpg

Technical Analysis

Looking at the EUR/USD daily chart above we note that the currency pair also gained in value and breached the 1.36 resistance. We are now also at an immediate resistance region. I love it when our lines work! If you are a long time reader of TheGeekKnows you will release that our support and resistance lines are often target areas of forex moves.

Should the bullish momentum gain strength, we may be looking at an extended target of 1.38. If a bearish correction returns, we may be looking at a support region near 1.3510.

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 18th, 2013 @ 5:20 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD had a bullish momentum yesterday topped at 1.3681. The bias is bulish in nearest term testing 1.3700. A clear break and daily/weekly close above that area could trigger further bullish scenario testing 1.3850. Immediate support is seen around 1.3650. A clear break below that area could lead price to neutral zone in nearest term testing 1.3600 but any downside pullback now is normal and only a clear break back below 1.3450 could be a threat to the bullish outlook.

eurusddaily

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October 18th, 2013 @ 5:13 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD had a bullish momentum yesterday topped at 1.6171. The bias is bullish in nearest term testing 1.6200 – 1.6259. As you can see on my daily chart below, we have a potential H&S formation with 1.5950 as key support. Immediate support is seen around 1.6130. A clear break below that area could lead price to neutral zone in nearest term testing 1.6100 – 1.6060 but any downside pullback now is normal and as long as stays above 1.5950 I still prefer a bullish scenario at this phase.

gbpusddaily

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October 18th, 2013 @ 5:10 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bearish momentum yesterday bottomed at 97.73. The bias remains bearish in nearest term testing 97.50 – 97.00. Immediate resistance is seen around 98.15. A clear break above that area could lead price to neutral zone in nearest term testing 98.50 or higher. My major technical outlook remains neutral.

usdjpydaily

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October 18th, 2013 @ 5:04 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had a bearish momentum yesterday on broad US Dollar weakness. The bias is bearish in nearest term testing 0.9000 – 0.8930. Immediate resistance is seen around 0.9040. A clear break above that area could lead price to neutral zone in nearest term but as long as stays below 0.9090 I prefer a bearish scenario at this phase.

usdchfhourly

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