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2016 August

August 18th, 2016 @ 2:31 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday but overall still able to maintain its bullish bias. The bias remains bullish in nearest term testing 1.3100. A clear break and daily close above that area could trigger further bullish pressure testing 1.3200 region. Immediate support is seen around 1.3030. A clear break below that area could lead price to neutral zone in nearest term testing 1.2950 region. Overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

gbpusdh4

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August 18th, 2016 @ 2:22 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push higher yesterday topped at 101.16 but whipsawed to the downside, closed lower at 100.23 and hit 99.64 earlier today in Asian session.  The bias is bearish in nearest term testing 99.50 – 98.80 region. Immediate resistance is seen around 100.15. A clear break above that area could lead price to neutral zone in nearest term testing 100.65 or higher but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

usdjpyhourly

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August 18th, 2016 @ 2:18 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday but overall still able to maintain its bearish bias so far. The bias remains bearish in nearest term. Price is still struggling around the trend line support and 0.9600 region which remains a good place to buy with a tight stop loss. Immediate resistance is seen around 0.9657 (yesterday’s high). A clear break above that area could lead price to neutral zone in nearest term testing 0.9700 or higher. On the downside, a clear break and daily close below 0.9600 could trigger further bearish pressure testing 0.9500 – 0.9450 region. My major technical outlook remains neutral.

usdchfdaily

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August 17th, 2016 @ 8:27 pm by Muhammad Azeem

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eur-usd-15MTrend is bearish EUR/USD currency pair, 15 minutes time frame. As I have suggested yesterday, during my daily Live trading room session, market is rising up on a short term basis to complete bullish Wave B leg which is part of a larger version of a bearish 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 1.1322 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 1.1175 price level to complete bearish Wave C leg, in coming trading days.

Currently; bearish 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 1.1322 critical resistance level then I might like to stay out of the market and re-examine the Fifteen minutes chart of EUR/USD currency pair.

See the attached screen shot image of EUR/USD 15 Minutes chart.

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August 17th, 2016 @ 8:46 am by William Gilday

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Screen Shot 2016-08-17 at 15.36.14

Hello traders good to be with you just some notes to mention as we are now above 46.00$ P/B in Oil. We have some news events to mention FOMC Dudley speaks at 10am est. Also we have the FOMC meeting minutes at 14:00 hours est. Today I am looking at the AUDUSD on the 60 minute chart as we know that the bias is bearish as we are now sitting on support. I have placed the Fibonacci tool on the chart and you can see how this support level is holding up. I am looking for a pullback to the 38.2 at the price of 0.7890 and look for a bearish candle formation to enter into a short trade. I am looking to take some profit off the table at the support level of 0.7660. This is very strong support as you can see that the 200 ema is holding price.

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

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August 17th, 2016 @ 1:34 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a strong bullish momentum yesterday topped at 1.1322. As you can see on my daily chart below, price broke above the trend line resistance. This fact activates my wait and see mode. The bias is bullish in nearest term testing 1.1400 region. Immediate support is seen around 1.1250/20 area. A clear break and daily close back below that area would give the bearish outlook another chance as we might have a false break bearish scenario testing 1.1165 or lower.

eurusddaily

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August 17th, 2016 @ 1:29 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum yesterday topped at 1.3051 and hit 1.3070 earlier today. The bias is bullish in nearest term testing 1.3100. A clear break and daily close above that area could trigger further bullish pressure testing 1.3200 region. Immediate support is seen around 1.3000. A clear break below that area could lead price to neutral zone in nearest term testing 1.2950 or lower. Overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

gbpusdh4

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August 17th, 2016 @ 1:22 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 99.53 but closed higher at 100.29 and hit 100.68 earlier today. Overall I remain bearish but we have a hammer candlestick formation on H4 chart suggests a potential bullish correction scenario. The bias is bullish in nearest term testing 100.70 – 101.00 region which is a good place to sell with a tight stop loss. Immediate support is seen around 100.15. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish scenario remains strong retesting 99.53 or lower. On the upside, a clear break and daily close above 101.00 could trigger further bullish correction testing 101.50 or higher.

usdjpyhourly

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