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2018 January

January 31st, 2018 @ 6:12 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was indecisive yesterday. It’s been a choppy market this week ahead of FOMC statement on Thursday and US NFP number on Friday. The bias is neutral in nearest term. Overall I remain bullish but price is in a consolidation zone between 1.2330 – 1.2537 range area which need to be broken to see clearer direction. The bearish pin bar still suggests a potential bearish correction, but need a clear break below 1.2330 to confirm the bearish scenario. On the upside, only a clear break above 1.2537 would invalidate the bearish pin bar scenario and resume the major bullish trend.

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January 31st, 2018 @ 6:11 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push lower yesterday bottomed at 1.3978 but whipsawed to the upside, closed higher at 1.4142 and hit 1.4184 earlier today in Asian session. The bias is bullish in nearest term testing 1.4250 region. Immediate support is seen around 1.4135. A clear break below that area could lead price to neutral zone in nearest term testing 1.4070 – 1.4025/00 region. Overall I remain bullish. Fundamental focus will be on the FOMC statement on Thursday and US NFP number on Friday.

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January 31st, 2018 @ 6:10 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had another indecisive movement yesterday. It’s been a choppy market this week ahead of FOMC statement on Thursday and US NFP number on Friday. The bias remains neural in nearest term. On the downside, 108.50 – 107.50 remains a key support and good place to buy with a tight stop loss below 107.50. Immediate resistance is seen around 109.50. A clear break and daily close above that area could trigger further bullish pressure testing 110.65 area. Overall I remain neutral.

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January 31st, 2018 @ 6:09 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. The bias remains neutral in nearest term. We need a clear break above or below the mother bar (see my daily chart below) to see clearer direction. It’s been a choppy market this week ahead of FOMC statement on Thursday and US NFP number on Friday. On the downside, a clear break below 0.9288 could trigger further bearish pressure testing 0.9150 or lower. On the upside, a clear break above 0.9450 would expose 0.9590. Overall I remain neutral.

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January 30th, 2018 @ 5:58 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD attempted to push lower yesterday bottomed at 1.2336 but closed a little bit higher at 1.2380. We don’t see significant bearish correction so far, but the bearish pin bar and the inside bar formation still suggests potential bearish correction. The bias is neutral in nearest term probably with a little bearish bias. Immediate support is seen around 1.2350. A clear break below that area could trigger further bearish pressure testing 1.2290 region or lower. Immediate resistance is seen around 1.2415. A clear break above that area could trigger further bullish pressure testing 1.2460 area. Overall I remain bullish but need a clear break above 1.2537 to resume the major bullish scenario.

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January 30th, 2018 @ 5:57 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday slipped below the low of the mother bar as you can see on my daily chart below. Overall I remain bullish but this fact could trigger a bearish correction phase. The bias is bearish in nearest term testing 1.4000 – 1.3950 support area. Immediate resistance is seen around 1.4100. A clear break above that area could lead price to neutral zone in nearest term testing 1.4150 or higher. Overall I remain bullish but need a clear break at least above 1.4285 to resume the major bullish trend testing 1.4350 or higher.

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January 30th, 2018 @ 5:56 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY didn’t make significant movement yesterday. The bias is neutral in nearest term. Immediate support is seen around 108.50. A clear break below that area could trigger further bearish pressure but note that 108.50 – 107.50 remains a key support area and good place to buy with a tight stop loss below 107.50. Immediate resistance is seen around 109.20. A clear break above that area could trigger further bullish pressure testing 109.50 or higher. Overall I remain neutral.

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January 30th, 2018 @ 5:55 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF didn’t make significant movement yesterday. The bias is neutral in nearest term. Overall price is still in a bearish phase but need a clear break below 0.9288 to continue the bearish phase testing 0.9150 area. Immediate support is seen around 0.9330 followed by 0.9288. Immediate resistance is seen around 0.9405 followed by 0.9465. A clear beak above 0.9465 would expose 0.9590 region. Overall I remain neutral.

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