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2018 July

July 4th, 2018 @ 4:30 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was indecisive yesterday. The bias is neutral in nearest term, but as you can see on my H1 chart below, the trend line resistance has been breached twice already, which could be a serious threat to the bearish phase. A clear break and daily close above 1.1690 would confirm the invalidation of the bearish phase retesting 1.1850 area. On the downside, we need a clear break below 1.1590 to keep the bearish phase alive and kicking retesting 1.1530/00 key support which need to be clearly broken to the downside to resume the major bearish scenario.

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July 4th, 2018 @ 4:28 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD failed to continue its bearish momentum yesterday, topped at 1.3206 and hit 1.3216 earlier today in Asian session. As you can see on my H4 chart below, price slipped above the bearish channel which is a serious threat to the bearish phase but note that price has made at least three false breakout above the bearish channel before, so we need a more convincing bullish momentum to confirm the invalidation of the bearish phase. The bias is bullish in nearest term testing 1.3250. A clear break and daily close above that area would invalidate the bearish phase with nearest bullish target seen around 1.3315 region. Immediate support is seen around 1.3150 area. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish phase alive and kicking testing 1.3100 or lower.

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July 4th, 2018 @ 4:27 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY has a bearish momentum yesterday bottomed at 110.50 and hit 110.27 earlier today in Asian session. The bias is bearish in nearest term retesting the trend line support located around 109.80 area which is a good place to buy with a tight stop loss. Immediate resistance is seen around 110.75. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish bias remains strong retesting 111.40 region.

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July 4th, 2018 @ 4:26 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. The bias is neutral in nearest term. Price has been moving back and forth between 0.9980 – 0.9855 from June 14 as you can see on my H1 chart below suggests a consolidation phase. We need a clear break from that range area to see clearer direction. Aggressive traders can sell around 0.9980 or buy around 0.9855 with a tight stop loss, taking advantage of this choppy market. I think it’s better to stand aside and do nothing with this pair for now.

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July 3rd, 2018 @ 4:37 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had a bearish momentum yesterday bottomed at 1.1591 but closed a little bit higher at 1.1638. The bias is neutral in nearest term, probably with a little bearish bias. Price is traded around the trend line resistance as you can see on my H1 chart below. Immediate resistance is seen around 1.1650 area. A clear break above that area could trigger further bullish pressure but only a clear break above 1.1690 – 1.1700 region would invalidate the current bearish phase. Immediate support is seen around 1.1591. A clear break below that area would expose 1.1550 region or lower.

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July 3rd, 2018 @ 4:37 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.3095 but closed higher at 1.3142. The bias is neutral in nearest term but as long as stay inside the bearish channel price is still in a valid bearish phase. Immediate resistance is seen around 1.3190 which is a good place to sell with a tight stop loss as a clear break above that area would invalidate the current bearish phase. Immediate support is seen around 1.3100. A clear break below that area would retest 1.3050 region before testing 1.3000 psychological level.

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July 3rd, 2018 @ 4:36 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY continued its bullish momentum yesterday, topped at 111.06 and hit 111.13 earlier today in Asian session but traded a little bit lower around 110.85 at the time I wrote this comment. The bias remains bullish in nearest term testing 111.40 area. Immediate support is seen around 110.50. A clear break below that area could lead price to neutral zone in nearest term testing the trend line support located around 109.80 area. On the upside, a clear break and daily close above 111.40 would expose 111.80 – 112.00 region which is a good place to sell with a tight stop loss.

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July 3rd, 2018 @ 4:24 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bullish momentum yesterday topped at 0.9965 but closed a little bit lower at 0.9935. The bias is bullish 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. Immediate support is seen around 0.9890. A clear break and daily close below that area would retest 0.9855 – 0.9825 support area.

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