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2018 February

February 28th, 2018 @ 6:15 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had a bearish momentum yesterday, broke below the 100-pip range area as you can see on my daily chart below. The bias is bearish in nearest term testing 1.2175 area. A clear break and daily close below that area would expose the trend line support and 1.2090 support area which is a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate the major bullish trend. Immediate resistance is seen around 1.2260. A clear break above that area could lead price to neutral zone in nearest term testing 1.2315 area but as long as stay below 1.2537 key resistance price is still in a bearish consolidation phase.

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February 28th, 2018 @ 6:14 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.3857. The bias is bearish in nearest term especially if price able to make a clear break below 1.3850 testing 1.3750 region as a part of the bearish correction phase after failed to break above 1.4275 key resistance area as you can see on my daily chart below. Immediate resistance is seen around 1.3925. A clear break above that area could lead price to neutral zone in nearest term testing 1.4000 region but as long as stay inside the bearish channel the bearish correction phase should remain valid.

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February 28th, 2018 @ 6:13 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 107.67 but closed a little bit lower at 107.31. The bias is neutral in nearest term. Immediate resistance is seen around 107.67. A clear break above that area could continue the bullish pin bar scenario testing 108.00 – 108.50 region. Immediate support is seen around 106.70 area. A clear break below that area could trigger further bearish pressure testing 106.36 or lower. Overall I remain neutral.

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February 28th, 2018 @ 6:11 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another indecisive movement yesterday but keeps printing higher highs and lows since Friday. The bias remains neutral in nearest term probably with a little bullish bias testing 0.9465 area which is a good place to sell with a tight stop loss. Immediate support is seen around 0.9357 (yesterday’s low). A clear break below that area could trigger further bearish pressure testing 0.9320 region but key support remains at 0.9250 area. Overall I remain neutral.

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February 27th, 2018 @ 4:10 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was indecisive yesterday. The bias remains neutral in nearest term. Price is moving back and forth in a 100-pip range between 1.2260 – 1.2360 as you can see on my daily chart below and we need a clear break from that range area to see clearer direction. A clear break above 1.2360 could trigger further bullish pressure testing 1.2400 – 1.2435 region. On the other hand, a clear break and daily close below 1.2260 would expose 1.2175 and the trend line support area. The major bullish trend remains valid but as long as stay below 1.2537 key resistance price is still in a bearish consolidation phase.

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February 27th, 2018 @ 4:09 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. Price attempted to push higher topped at 1.4069 but closed lower at 1.3963. The bias is neutral in nearest term. Overall I remain bullish but as long as stay inside the bearish channel, price is still in a bearish correction phase. Immediate support is seen around 1.3927 (yesterday’s low). A clear break below that area could trigger further bearish pressure testing 1.3850 area. Immediate resistance is seen around 1.4050 followed by 1.4100. A clear break above 1.4100 and the bearish channel would be a serious threat to the bearish correction phase.

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February 27th, 2018 @ 4:08 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 106.36 but closed higher at 106.90, printed another bullish pin bar as you can see on my daily chart below. The bias is neutral in nearest term. Immediate resistance is seen around 107.13 (yesterday’s high). A clear break above that area could trigger further bullish pressure testing 107.50 – 108.00 area. Immediate support is seen around 106.36. A clear break below that area could trigger further bearish pressure testing 105.50 support area. Overall I remain neutral.

Bullish pin bar forex

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February 27th, 2018 @ 4:07 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. Price attempted to push lower bottomed at 0.9324 but closed higher at 0.9378. The bias is neutral in nearest term probably with a little bullish bias. Price is still trapped in a 215-pip range area between 0.9465 – 0.9250 as you can see on my daily chart below and we need a clear break from that range area to see clearer direction. The best trading plan in this situation is to sell around 0.9465 or buy around 0.9250 with a tight stop loss. Overall I remain neutral.

choppy market forex

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