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2013 October

October 16th, 2013 @ 5:02 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF attempted to push higher yesterday topped at 0.9177 but closed lower at 0.9123. The bias is neutral in nearest term probably with a little bullish bias testing 0.9200. Immediate support is seen around 0.9115. A clear break below that area could trigger further bearish pressure testing 0.9060.

usdchfhourly

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October 16th, 2013 @ 1:42 am by Mark De La Paz

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EURUSD
Resistance: 1.3536 minor / 1.3570 minor / 1.3600 moderate
Support: 1.3506 minor / 1.3482 moderate / 1.3460 moderate

Euro saw more than its daily averages yesterday with a bearish daily candle for a close as we find prices back under the daily EMA lines. Among indicators we have stochastic crossing lower while macd’s are also dropping. Note we remain inside the congestion for the past month, waiting for a catalyst to push through our floors. From the lower time frames we are seeing an indecisive combination of signals with 4H macd’s down and stochastic heading up. Hourly charts are also mixed with stochastic heading lower and macd’s up. Given the broader picture we prefer taking the sell side of Euro following a break of 1.3507, an hourly close below 1.3482 could spark the next big down leg.

GBPUSD
Resistance: 1281.28 minor / 1288.15 minor / 1294.41 moderate
Support: 1274.19 minor / 1266.59 moderate / 1260.86 minor

Gold continues to discount the possibility of a default by the US with Tuesday price action seeing bears drag Gold charts to new lows as we continue to ease beneath the the 61.8 fib retracement level of the rally from June 28. Note we ended up with along tail for a high wave spinning top in the daily charts potentially defining the bottom of our bear trend. Daily indicators has macd’s dropping while stochastic is coming off oversold areas. From the lower time frames we are seeing a confluence of buys in 4H indicators stochastic and macd, the former pushing for overbought levels. Hourly charts has stochastic at risk of seeing oversold levels while macd is above the signal line. Given the nearing deadline over raising the US debt ceiling we risk haven plays as any solution remains elusive.

AUDUSD
Resistance: 0.9547 moderate / 0.9600 minor / 0.9620 minor
Support: 0.9516 minor / 0.9498 minor / 0.9484 moderate

Tuesday has Aussy ending the day above the 38.2 Fib retracement level of our sell-off from April with indicators showing a confluence of buys the daily stochastic back in overbought areas while macd has a new bullish cross, the combination suggesting we are ready for the next surged up. Note yesterdays push effectively invalidates the idea of forming a double top. From the 4H picture we are currently seeing mixed signals with stochastic heading lower and macd’s pointing up though the latest candlesticks suggests we are looking to push past our congestion ceiling with a bullish engulfing. From the hourly picture we are seeing mixed signals with stochastic poised to cross lower and macd’s up. We do not see any sense of urgency from our charts as such we prefer remaining sidelined for now though a close above 0.9547 should open the way for further gains.

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October 15th, 2013 @ 5:50 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD was indecisive yesterday. Price slipped above 1.3580 but the bullish momentum was disappointing. The bias is neutral in nearest term. However, as long as stays above 1.3450 the major bullish scenario remains valid with 1.3650 – 1.3700 as nearest target. Immediate support remains around 1.3540. A clear break below that area could trigger further bearish pressure testing 1.3500 – 1.3450.

eurusddaily

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October 15th, 2013 @ 5:41 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Immediate resistance is seen around 1.6020 – 1.6050. A clear break above that area would give the bullish scenario another chance testing 1.6100 or higher. Key support remains around 1.5950. A clear break and consistent movement below that area could be an early signal of a bearish reversal scenario.

gbpusddaily

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October 15th, 2013 @ 5:33 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY didn’t make significant movement yesterday but overall still able to maintain its bullish bias. The bias remains bullish in nearest term testing 99.00. Immediate support is seen around 98.30. A clear break below that area could lead price to neutral zone in nearest term testing 98.00 or lower.  My major technical outlook is neutral.

usdjpydaily

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October 15th, 2013 @ 5:27 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF was indecisive yesterday. There are no changes in my technical outlook and price is still moving sideways without clear direction. Important intraday range to be closely watched remains 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 14th, 2013 @ 4:09 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 EUR/USD forecast we noted that the 1.36 line remained our resistance for any bullish momentum. In fact as the previous week came to a close, bullish momentum was facing much drag. The fundamental uncertainty is high this week as the markets await the outcome of October 17.

20131014-192526.jpg

Technical Analysis

Looking at the EUR/USD 4 hourly chart above we note that the currency pair remains somewhat tight in it’s trading range. 1.36 remains as our reference point for any further bullish action.

The chart above indicates that we can use the bollinger bands as a reference to a certain extent. Hence forth we are looking at the middle bollinger band as an immediate support. Further support will probably be 1.3500 in the event of any extended bearish push.

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

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October 14th, 2013 @ 7:26 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD was indecisive last week. As long as stays above 1.3450 the major bullish scenario remains valid. The bias is neutral in nearest term. Immediate resistance is seen around 1.3580. A clear break above that area could trigger further bullish pressure testing 1.3650 – 1.3700. Immediate support is seen around 1.3540. A clear break below that area could trigger further bearish pressure testing 1.3500 – 1.3450.

eurusddaily

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