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2016 August

August 30th, 2016 @ 2:31 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push higher, topped at 102.39 but closed lower at 101.90. The bias is neutral in nearest term probably with a little bullish bias testing 102.80 which remains a good place to sell. Immediate support is seen around 101.75. A clear break below that area could trigger further bearish pressure testing 101.15. Overall I remain bearish.

usdjpyhourly

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August 30th, 2016 @ 2:28 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday formed a Doji on daily chart. The bias is neutral in nearest term probably with a little bullish bias. Immediate resistance is seen around 0.9806 (yesterday’s high). A clear break above that area could trigger further bullish pressure testing 0.9900 – 0.9950 region which is a good place to sell. Immediate support is seen around 0.9750. A clear break and daily close below that area could trigger further bearish pressure testing 0.9680 or lower. My major technical outlook remains neutral.

usdchfdaily

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August 30th, 2016 @ 1:05 am by William Gilday

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Screen Shot 2016-08-30 at 06.39.46

Hello traders good to be back with you today on a Tuesday. Well I have to say we ar really in the slowest part of summer for the next 9 days until the big money comes back to the market after the Labor day Holiday next Monday. So we take a look st the GBPUSD I have a bearish bias as we look at the chart not much price action and no data for this pair today. We would like to see an aggressive pullback to the 38.2 Fibonacci level and look for a bearish candl formation with conformation for the sell entry. I am looking to take profit at the support zone of 1.3117 price level. This is not an easy trade and might have to hold it for 24 hours I will take a look at that at the NY session.

Thank you traders and we will talk soon…..William

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August 29th, 2016 @ 8:35 pm by Muhammad Azeem

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eur-usd-4HTrend is bearish in EUR/USD currency pair, 4 hour time frame. As I have suggested past week during my daily Live trading room session, market is rising up on a short term basis to complete bullish Wave Y leg which is part of a larger version of a Double Zig Zag pattern and traders should look for a long trade. So, all those Forex traders who have followed the analysis have made the right decision as the price has ascended. Strong key resistance level is present at 1.1366 price level.

 

Be sure to check out daily Forex market updates via Live Trading Room. In my judgement, price action in EUR/USD is now going to drop towards 1.0700 price level to print a bearish Double Zig Zag pattern, in coming trading days.

 

Currently; bearish Double Zig Zag pattern looks in-complete and price action offers a possible Sell trade setup to join the down trend. However; if price of EUR/USD currency pair breaks above 1.1366 critical resistance level then I might like to stay out of the market and re-examine the four hour chart of EUR/USD currency pair.

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August 29th, 2016 @ 2:45 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD failed to continue its bullish momentum last week bottomed at 1.1180 after a failure to make a clear break above 1.1350 as you can see on my H1 chart below. The bias is bearish in nearest term especially if price able to make a clear break below 1.1180 testing 1.1100 before targeting 1.1000 this week. Immediate resistance is seen around 1.1250. A clear break back above that area could lead price to neutral zone in nearest term testing 1.1300 – 1.1350 region. My major technical outlook remains neutral.

eurusdhourly

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August 29th, 2016 @ 2:41 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push higher last week topped at 1.3279 but whipsawed to the downside and closed lower at 1.3132. As you can see on my H1 chart below, price is now struggling around the H1 EMA 200 support which has been tested 2 times since August 17th. The bias is bearish in nearest term testing 1.3050 – 1.3000 area. Immediate resistance is seen around 1.3150. A clear break above that area could lead price to neutral zone in nearest term testing 1.3200 or higher. Overall, as long as stay below 1.3500 my major technical outlook remains bearish.

gbpusdh1

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August 29th, 2016 @ 2:38 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push lower last week bottomed at 99.94 but whipsawed to the upside and closed higher at 101.80 and hit 102.15 earlier today. The bias is bullish in nearest term testing 102.80 which is a good place to sell with a tight stop loss. Immediate support is seen around 101.50. A clear break below that area could lead price to neutral zone in nearest term testing 101.15/00 region or lower. Overall I remain bearish.

usdjpyhourly

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August 29th, 2016 @ 2:31 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bullish momentum last week topped at 0.9792. The bias is bullish in nearest term testing 0.9850. A clear break and daily close above that area could trigger further bullish pressure testing 0.9950 which is a good place to sell. Immediate support is seen around 0.9730. A clear break below that area could lead price to neutral zone in nearest term testing 0.9685 area. My major technical outlook remains neutral.

usdchfdaily

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