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2018 April

April 30th, 2018 @ 3:27 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had a bearish momentum last week bottomed at 1.2054 but closed a little bit higher at 1.2127. The bias is neutral in nearest term but as long as stay below 1.2175 the descending triangle bearish scenario should remain valid testing the daily EMA 200 located around 1.1970 region. A clear break and daily close back above 1.2175 would interrupt the bearish scenario. Immediate support is seen around 1.2095. A clear break below that area could trigger further bearish pressure retesting 1.2054 which need to be clearly broken to the downside to resume the descending triangle bearish scenario testing 1.2000 – 1.1970 support area.

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April 30th, 2018 @ 3:26 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum last week bottomed at 1.3746 as a part of the bearish phase after the false breakout above 1.4275 key resistance area as you can see on my daily chart below. The bias remains bearish in nearest term testing 1.3710 and the major trend line support (located around 1.3650) which is a good place to buy with a tight stop loss below 1.3650 as a clear break below that area would invalidate my major bullish trend. Immediate resistance is seen around 1.3850. A clear break and daily close above that area could lead price to neutral zone in nearest term testing 1.3933 region.

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April 30th, 2018 @ 3:25 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum last week topped at 109.53 but closed a little bit lower at 109.01 after failed to break above the EMA 200 as you can see on my daily chart below. The bias is neutral in nearest term. I still prefer a bullish scenario as a part of the bullish phase since broke above the bearish channel but need a clear break above 109.50 to resume the bullish phase testing 110.50 or higher. Immediate support is seen around 108.95. A clear break below that area could trigger further bearish pullback testing 108.50 area.

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April 30th, 2018 @ 3:24 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bullish momentum last week topped at 0.9920 but closed a little bit lower at 0.9875. The bias is neutral in nearest term. Overall I still prefer a bullish scenario as a part of the bullish phase after broke above the rising wedge formation and the EMA 200 as you can see on my daily chart below, but we have a bearish pin bar printed of Friday suggests a potential bearish pullback. Immediate support is seen around 0.9850. A clear break and daily close below that area would give further confirmation to the bearish pin bar scenario testing 0.9765 area. On the upside, we need a clear break above the “tail” of the bearish pin bar located at 0.9920 to resume the bullish phase testing 0.9950 – 0.9977 region.

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April 27th, 2018 @ 2:47 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had a significant bearish momentum yesterday, broke below the support line of the descending triangle formation as you can see on my daily chart below, bottomed at 1.2095. This fact not only invalidates my major bullish outlook, but confirms the descending triangle bearish scenario. The bias remains bearish in nearest term testing 1.2030/00 support area and the daily EMA 200 located around 1.1970 region. Immediate resistance is seen around 1.2150/75 region. A clear break and daily/weekly close back above that area could lead price to neutral zone in nearest term as direction would become unclear.

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April 27th, 2018 @ 2:46 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.3996 but closed lower at 1.3912, printed a bearish pin bar as you can see on my daily chart below. This fact keeps the bearish bias after the false breakout above 1.4275 remain strong. The bias remains bearish in nearest term testing 1.3850. Immediate resistance is seen around 1.3960. A clear break above that area could lead price to neutral zone in nearest term but only a clear break above 1.4000 would interrupt the bearish correction phase. On the downside, a clear break and daily/weekly close below 1.3850 would expose 1.3710 and the trend line support area next week, which remains a good place to buy with a tight stop loss as a clear break below the trend line support would invalidate my major bullish outlook.

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April 27th, 2018 @ 2:45 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. The bias remains bullish in nearest term testing the daily EMA 200 located around 109.50 area which could be a good resistance at this phase and need to be clearly broken to the upside to resume the bullish phase targeting 110.50. Immediate support is seen around 109.00. A clear break below that area could lead price to neutral zone in nearest term testing 108.50 area but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy.

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April 27th, 2018 @ 2:44 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF continued its bullish momentum yesterday topped at 0.9895. The bias remains bullish in nearest term testing 0.9950 region as a part of the bullish scenario following a break above the rising wedge formation and the daily EMA 200 as you can see on my daily chart below. Immediate support is seen around 0.9850. A clear break below that area could lead price to neutral zone in nearest term but overall I still prefer a bullish scenario at this phase and any downside pullback should be seen as a good opportunity to buy.

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