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2013 October

October 17th, 2013 @ 9:38 am by William Gilday

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10-17-2013 4-06-49 PM  AUDUSD PreviewAUD/USD: The daily chart is showing a possible change of trend as the last 16 trading days we have been bullish. As we have been bearish our ABCD has been taken out so we are now looking a this change and have placed a the 200 EMA on the chart and price has moved above it today in the current candle. We have placed a trend line on the chart to see if price will pull back or continue the bullish action. We have placed an ABCD fib and current price has broken above the B fib level at the price of 0.9528 and it did pull back to the C at the 38.2 fibb at price level 0.9283. The 2 Hour chart is bullish as well and we have placed two trend lines and waiting to see what price does. The one hour chart is in a range and we placed a resistance level at 0.9599 and support at 0.9534. So we are just waiting for the break. The 15 Minute chart has an ABCD fib on the chart and is now at the B at price level 0.9600 physiological level and showing a fight with the bears. We have not had the pull back yet so we are still not in this trade till we get our pull back for a proper entry without chasing price. We would like to see this at a minimal to the 38.2 at 0.9571 or better at the 61.8 at 0.9565 and go to the D extension at 0.9635.

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October 17th, 2013 @ 7:43 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD was indecisive yesterday. The bias is neutral in nearest term. Price has been moving sideways without clear direction this week. As long as stays above 1.3450, the major bullish outlook should remain valid with 1.3700 as nearest target. For intraday traders, if we focus at the hourly chart in the last two weeks, selling around 1.3600 or buying around 1.3470 seems to be a good idea with a tight stop loss .

eurusddaily

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October 17th, 2013 @ 7:38 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD had a volatile but indecisive movement yesterday. Price attempted to push lower, bottomed at 1.5893 but whipsawed to the upside and hit 1.6018 earlier today. We have a broadening formation as you can see on my hourly chart below. I hate this formation and when I see it, it’s time to stay away and wait for further development. From a longer term technical outlook, the major bullish scenario remains intact and only a clear break and consistent movement below 1.5950 could be a threat to the bullish outlook and could be and early signal of a bearish reversal scenario.

gbpusdh1

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October 17th, 2013 @ 7:34 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bullish momentum yesterday and hit 99.00 earlier today but traded lower around 98.40 at the time I wrote this comment. The bias is bearish in nearest term testing 98.00 or lower. Immediate resistance is seen around 98.70. A clear break above that area could lead price to neutral zone in nearest term retesting 99.00. My major technical outlook remains neutral.

usdjpydaily

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October 17th, 2013 @ 7:28 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF had another indecisive movement yesterday. A quick look at the hourly chart shows that price is moving up and down between 0.9090 – 0.9180 without clear direction. The bias is neutral in nearest term. I prefer a bullish scenario at this phase but a clear break below 0.9090 and the hourly EMA 200 could trigger further bearish pressure testing 0.9090 – 0.9000.

usdchfhourly

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October 16th, 2013 @ 5:16 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD attempted to push lower yesterday bottomed at 1.3479 but closed higher at 1.3523. The bias is neutral in nearest term. Price is consolidating without clear direction. Immediate resistance is seen around 1.3540. A clear break above that area could trigger further bullish pressure testing 1.3600 or higher. On the downside, 1.3450 remains a key support. A clear break below that area could be an early signal of a bearish reversal scenario.

eurusddaily

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October 16th, 2013 @ 5:11 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD attempted to push lower yesterday, slipped below 1.5950 but again, failed to move consistently below 1.5950. The bias is neutral in nearest term. A quick look at the hourly chart shows a range area between 1.6020 – 1.5915. A clear break back above 1.6020 could trigger further bullish pressure testing 1.6050 – 1.6100 and give another chance to the bullish outlook. On the other hand, a clear break and consistent move below 1.5950 – 1.5915 could be an early signal of a bearish reversal scenario.

gbpusddaily

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October 16th, 2013 @ 5:05 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY had a bearish momentum yesterday bottomed at 97.99 but traded higher and hit 98.62 earlier today. The bias is bullish in nearest term testing 99.00. Immediate support is seen around 98.00. A clear break below that area could lead price to neutral zone in nearest term testing 97.50 or lower.

usdjpydaily

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