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2018 June

June 29th, 2018 @ 12:32 pm by Muhammad Azeem

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EUR/USD Elliott Wave Analysis

EUR/USD Elliott Wave Analysis in 15 Minutes chart

Bullish trend is present in EUR/USD currency pair, 15 minutes chart. As I have suggested via my Elliott Wave Analysis few hours ago, the price of EUR/USD currency pair is going to rise up now on a short-term basis to create a Bullish Impulse Elliott wave pattern and Spot Forex traders should consider taking a possible buy trading chance.

So, all those Forex traders who have followed my Elliott Wave Analysis have made the right decision as price has started the bullish leg. Strong key support level is present at 1.1601 price level which is the termination point of Bullish impulse wave i leg. In my opinion, price action in EUR/USD currency pair has not completed bearish wave iv corrective Elliott wave pattern. So, based on Elliott wave analysis, Bearish wave iv leg is going to start after few hours time and I expect the market to first drop lower and then resumes an up trend to rise; towards 1.1680 price area in coming trading hours.

Next, price action is most likely going to prints a top as well in coming trading hours after completing bearish impulse wave v pattern. As the trend is still bullish, Forex traders should consider only long trades and no trade against the current EUR/USD bullish trend as it is always easy to trade in the favour of market trend. Currently, bearish wave ii leg which is part of the Bullish Impulse Elliott wave pattern looks half finish. A good idea is to look for a possible buy trading chance to join an up trend around 1.1626 price area.

However; if the price action in EUR/USD spot Forex pair breaks below 1.1601 important support level then Bullish Elliott wave analysis will become in-valid. From this time forward, I may seize the opportunity to stay out of the market and re-assess the EUR/USD currency pair price movement in fifteen minutes chart. Forex traders who are interested to learn Price Patterns click here.

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June 29th, 2018 @ 4:33 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was indecisive yesterday but traded higher earlier today in Asian session hit 1.1649. The bias is bullish in nearest term testing a trend line resistance as you can see on my H1 chart below located around 1.1670 region which is a good place to sell with a tight stop loss above 1.1725. Immediate support is seen around 1.1595. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish phase alive and kicking retesting 1.1530 – 1.1500 key support area. On the upside, a clear break and daily close above 1.1725 would retest 1.1850 region.

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June 29th, 2018 @ 4:31 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday bottomed at 1.3049 but traded higher earlier today in Asian session hit 1.3120. The bias is neutral in nearest term probably with a little bullish bias testing 1.3150 region which is a good place to sell with a tight stop loss. Immediate support is seen around 1.3065. A clear break below that area would expose 1.3000 psychological support. On the upside, a clear break and daily close above 1.3150 would expose 1.3200 region and the upper line of the bearish channel.

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June 29th, 2018 @ 4:29 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 110.64 and hit 110.79 earlier today in Asian session. The bias remains bullish in nearest term testing 110.90 area. Immediate support is seen around 110.50/30 area. A clear break below that area could lead price to neutral zone in nearest term testing 109.95 – 109.70 area. On the upside, a clear break and daily close above 110.90 would expose 111.50 region.

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June 29th, 2018 @ 4:22 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. Price attempted to push higher, slipped above 0.9980 key resistance area but closed lower and hit 0.9938 earlier today in Asian session. The bias is bearish in nearest term testing 0.9915/00 support area located around the trend line support as you can see on my H1 chart below which is a good place to buy with a tight stop loss. Immediate resistance is seen around 0.9960. A clear break above that area could lead price to neutral zone in nearest term retesting 0.9980 key resistance area which need to be clearly broken to the upside to resume the bullish phase retesting 1.0055 region.

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June 28th, 2018 @ 3:09 pm by Muhammad Azeem

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EUR/USD Elliott Wave Analysis

EUR/USD Elliott Wave Analysis in 15 Minutes chart

Bullish trend is present in EUR/USD currency pair, 15 minutes chart. As I have suggested via my Elliott Wave Analysis few hours ago, the price of EUR/USD currency pair is going to rise up now on a short-term basis to create a Bullish Impulse Elliott wave pattern and Spot Forex traders should consider taking a possible buy trading chance.

 

So, all those Forex traders who have followed my Elliott Wave Analysis have made the right decision as price has started the bullish leg. Strong key support level is present at 1.1527 price level which is the originating point of Bullish impulse wave i leg. In my opinion, price action in EUR/USD currency pair has not completed bearish wave ii corrective Elliott wave pattern. So, based on Elliott wave analysis, Bearish wave ii leg is going to start after few hours time and I expect the market to first drop lower and then resumes an up trend to rise; towards 1.1655 price area in coming trading hours.

 

Next, price action is most likely going to prints a top as well in coming trading hours after completing bearish impulse wave iii pattern. As the trend is still bullish, Forex traders should consider only long trades and no trade against the current EUR/USD bullish trend as it is always easy to trade in the favour of market trend. Currently, bearish wave ii leg which is part of the Bullish Impulse Elliott wave pattern looks half finish. A good idea is to look for a possible buy trading chance to join an up trend around 1.1539 price area.

 

However; if the price action in EUR/USD spot Forex pair breaks below 1.1527 important support level then Bullish Elliott wave analysis will become in-valid. From this time forward, I may seize the opportunity to stay out of the market and re-assess the EUR/USD currency pair price movement in fifteen minutes chart. Forex traders who are interested to learn Price Patterns click here.

Click here to read the full article.

June 28th, 2018 @ 4:04 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD continued its bearish momentum yesterday bottomed at 1.1540. The bias remains bearish in nearest term testing 1.1500 region as a part of the bearish phase since broke below the trend line support as you can see on my H1 chart below. Immediate resistance is seen around 1.1595. A clear break above that area could lead price to neutral zone in nearest term testing 1.1635 area but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell. On the downside, a clear break below 1.1500 would expose 1.1435 – 1.1350 region.

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June 28th, 2018 @ 4:03 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday bottomed at 1.3106. The bias remains bearish in nearest term term but note that 1.3100 could be a strong support at this phase and need to be clearly broken to the downside to resume the bearish phase testing 1.3000 psychological support. Immediate resistance is seen around 1.3150. A clear break above that area could lead price to neutral zone in nearest term testing 1.3200 region but overall I remain bearish and any upside pullback should be seen as a good opportunity to sell.

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