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2016 August

August 23rd, 2016 @ 7:21 am by William Gilday

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Screen Shot 2016-08-23 at 14.09.57

Hello traders good to be with you today as I am looking at the AUDUSD 120 minute chart today. I traded this pair yesterday for a sell and was happy when I woke up this morning and found I had taken profit. As you look at resistance on this chart you can see that we have a lot of weak candles and the bulls are running out of steam. This look to me for another shot to the down side however we have to be patient. I am looking to enter this after we see some strong bearish candles and I would like to enter with a close just below the 1.4800 price level. I am thinking we can stay in this trade for a couple of days and look to take profit at the 1.4680 price level. You can see that I placed the Fibonacci tool on the chart and will monitor the levels very close for a possible reversal after I have entered the trade.

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

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August 23rd, 2016 @ 3:23 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD was indecisive yesterday but overall still able to maintain its bullish bias and hit 1.1333 earlier today. The bias remains bullish in nearest term testing 1.1400 as a part of the bullish scenario after broke above the trend line resistance as you can see on my daily chart below. Immediate support is seen around 1.1270. A clear break below that area could lead price to neutral zone in nearest term testing 1.1200 region. On the upside, a clear break and daily close above 1.1400 would expose 1.1615 this week. My major technical outlook remains neutral.

eurusddaily

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August 23rd, 2016 @ 3:22 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.3157. The bias is bullish in nearest term testing H4 EMA 200 located around 1.3215. A clear break and daily close above that area would expose 1.3300 region but as long as stay below 1.3500 my overall technical outlook remains bearish. Immediate support is seen around 1.3100. A clear break below that area could lead price to neutral zone in nearest term testing 1.3050 or lower.

gbpusdh4

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August 23rd, 2016 @ 3:15 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 100.21 and hit 100.03 earlier today. The bias is bearish in nearest term testing 99.50 key support area. Immediate resistance is seen around 100.50. A clear break above that area could lead price to neutral zone in nearest term testing 101.15 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

usdjpyhourly

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August 23rd, 2016 @ 3:00 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. The bias remains neutral in nearest term. Immediate support is seen around 0.9600 – 0.9595. A clear break below that area could trigger further bearish pressure testing 0.9550 – 0.9500 but any movement near 0.9450 support area is a good opportunity to buy. Immediate resistance is seen around 0.9650. A clear break and daily close above that area could trigger further bullish pressure testing 0.9700 – 0.9750 region. My major technical outlook remains neutral.

usdchfdaily

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August 22nd, 2016 @ 4:09 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bullish momentum last week topped at 1.1366. As you can see on my daily chart below, price broke above the trend line resistance suggests a bullish outlook. Price traded a little bit lower earlier today in Asian session hit 1.1271. The bias is bullish in nearest term testing 1.1400. Immediate support is seen around 1.1250. A clear break below that area could lead price to neutral zone in nearest term testing 1.1200 or lower. On the upside, a clear break and daily close above 1.1400 would expose 1.1615 this week. My major technical outlook remains neutral.

eurusddaily

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August 22nd, 2016 @ 4:06 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum last week topped at 1.3184 but closed a little bit lower at 1.3077. The bias is neutral in nearest term probably with a little bearish bias testing 1.2950 area. Immediate resistance is seen around 1.3100. A clear break above that area could trigger further bullish pressure retesting 1.3184 or higher but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

gbpusdh4

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August 22nd, 2016 @ 4:03 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY continued its bearish momentum last week bottomed at 99.53. Price traded higher earlier today in Asian session hit 100.85. The bias is bullish in nearest term testing 101.15/50 which is a good place to sell. A clear break above that area could trigger further bullish pullback testing 102.00 but overall I still prefer a bearish scenario at this phase and any upside pullback should be seen as a good opportunity to sell. Immediate support is seen around 100.30. A clear break below that area could lead price to neutral zone in nearest term testing 99.50 region.

usdjpyhourly

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