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2017 April

April 14th, 2017 @ 1:41 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD failed to continue its bullish momentum yesterday bottomed at 1.2500. The bias is bearish in nearest term testing 1.2480 support area which is a good place to buy with a tight stop loss as a clear break below that area would end the bullish phase after bounced off 1.2375 key support, testing 1.2450/00 region. Immediate resistance is seen around 1.2520/35. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase remains alive and kicking retesting 1.2615 region. Overall I remain neutral.

gbpusdh1

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April 14th, 2017 @ 1:38 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday formed a Doji formation as you can see on my daily chart below. The bias is neutral in nearest term but overall I remain bearish. Immediate resistance is seen around 109.40. A clear break above that area could trigger further bullish pullback testing 109.85 – 110.10 region which is a good place to sell. On the downside, a clear break and daily/weekly close below 108.72 would expose 107.50 area or lower next week.

usdjpydaily

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April 14th, 2017 @ 1:36 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF failed to continue its bearish momentum yesterday after unable to make a clear break below 1.0020 key support, topped at 1.0067. The bias is bullish in nearest term testing 1.0115 – 1.0170 area. On the downside, 1.0020 remains a key support. A clear break below that area would end the bullish phase testing 0.9970 or lower. Overall I remain neutral.

usdchfh4

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April 13th, 2017 @ 1:49 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bullish momentum yesterday topped at 1.0675 after bounced off the trend line support as you can see on my H4 chart below. The bias is bullish in nearest term testing 1.0700 – 1.0750 area. Immediate support is seen around 1.0630. A clear break below that area could lead price to neutral zone in nearest term retesting the trend line support and 1.0580 support area. On the upside, a clear break and daily close above 1.0750 would expose 1.0873 key resistance once again. Overall I remain neutral.

eurusdh4

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April 13th, 2017 @ 1:45 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.2547 and hit 1.2555 earlier today in Asian session. The bias remains bullish in nearest term retesting 1.2615 region as a part of the bullish phase after rejection below 1.2375 key support as you can see on my H1 chart below. Immediate support is seen around 1.2520. A clear break below that area could lead price to neutral zone in nearest term testing 1.2480 area. Overall I remain neutral.

gbpusdh1

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April 13th, 2017 @ 1:32 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY continued its bearish momentum yesterday bottomed at 108.95 and hit 108.74 earlier today in Asian session. The bias remains bearish in nearest term testing 108.50 – 107.80 region as a part of the bearish continuation scenario after broke below the range area as you can see on my daily chart below. Immediate resistance is seen around 109.20. A clear break above that area could lead price to neutral zone in nearest term testing 109.85 but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

usdjpydaily

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April 13th, 2017 @ 1:26 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum yesterday and now struggling around 1.0020 support area which is a good place to buy with a tight stop loss as a clear break back below that area would nullify the bullish phase testing 0.9970 or lower. The bias is bearish in nearest term. Immediate resistance is seen around 1.0060. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish phase remains valid testing 1.0170 region. Overall I remain neutral.

usdchfh4

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April 12th, 2017 @ 5:15 pm by Muhammad Azeem

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nzd-usdTrend is bullish in NZD/USD currency pair, four hour time frame. As I have suggested past week during my daily Live trading room session, market is falling down to complete a bearish corrective Elliott wave b leg and traders should look for a sell trade. So, all those Forex traders who have followed my Elliott wave analysis have made the right decision as the price action has descended. Strong key support level is present at 0.6888 price level.

 

In my opinion, price action in NZD/USD currency pair is most probably going to print a bottom and then rise towards 0.7245 price area to print a bullish wave c leg which is going to complete Bullish Zig Zag pattern. So, a good idea is to go long at or around 0.6918 market level to ride and trade the upcoming bullish Impulse wave c Elliott wave pattern.

 

However; if price action of NZD/USD currency pair closes a bearish candlestick below 0.6888, key support level then bullish Elliott wave count will become in-valid. In this case, I would prefer to stop trading the NZD/USD currency pair and re-look at the four hour chart.

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