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2018 July

July 24th, 2018 @ 3:18 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD failed to continued its bullish momentum yesterday bottomed at 1.1683. We have a false breakout (above the trend line resistance )situation as you can see on my H1 chart below suggests a bearish view. The bias is bearish in nearest term testing 1.1650. Immediate resistance is seen around 1.1725. A clear break above that area could lead price to neutral zone in nearest term testing 1.1750 – 1.1790 region. On the downside, a clear break and daily close below 1.1650 would retest 1.1575 but key support remains around 1.1500 which need to be clearly broken to the downside to resume the major bearish trend.

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July 24th, 2018 @ 3:17 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD failed to continued its bullish momentum yesterday bottomed at 1.3082. The bias is neutral in nearest term probably with a little bearish bias testing 1.3050 region but key support remains around 1.3000 psychological level which remains a good place to buy. Immediate resistance is seen around 1.3160. A clear break above that area would retest the upper line of the bearish channel and 1.3200 area which remains a good place to sell. On the downside, a clear break below 1.3000 region would expose 1.2750 area.

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July 24th, 2018 @ 3:16 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 110.75 but closed higher at 111.33, printed a bullish pin bar on daily chart as you can see on my daily chart below. The bias is neutral in nearest term. Immediate resistance is seen around 111.60 area. A clear break above that area could trigger further bullish pressure testing 112.00 area and give the bullish scenario another chance. Immediate support is seen around 110.75. A clear break and daily close below that area would invalidate the bullish pin bar scenario and resume the bearish run testing 110.00 area or lower.

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July 24th, 2018 @ 3:15 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday but overall still able to maintain its bearish short term bias since unable to break above 1.0055 key resistance area. The bias remains bearish in nearest term testing 0.9855. Immediate resistance is seen around 0.9950. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear. On the downside, a clear break and daily close below 0.9855 would retest 0.9785 key support area which is a good place to buy with a tight stop loss.

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July 23rd, 2018 @ 2:59 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD attempted to push lower last week bottomed at 1.1575 but whipsawed to the upside, closed higher at 1.1720 and hit 1.1750 earlier today in Asian session. Price slipped above the trend line resistance as you can see on my H1 chart below suggests a potential bullish bias targeting 1.1790 area. The bias is bullish in nearest term. Immediate support is seen around 1.1700. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.1650 area. The major bearish outlook remain intact but need a clear break below 1.1500 area to resume the major bearish trend.

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July 23rd, 2018 @ 2:58 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push lower last week bottomed at 1.2957 but whipsawed to the upside and closed higher at 1.3131. The bias is bullish in nearest term testing the upper line of the bearish channel and 1.3200 resistance area as you can see on my H4 chart below, which is a good place to sell with a tight stop loss as a clear break above 1.3200 would be a serious threat to the bearish trend. Immediate support is seen around 1.3100. A clear break below that area could lead price to neutral zone in nearest term retesting 1.3000 psychological level area which remains a good place to buy with a tight stop loss.

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July 23rd, 2018 @ 2:57 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY failed to continue its bullish momentum last week, fell back below 111.40 support area after unable to stay above 113.00. This fact creates a false breakout bearish scenario. The bias is bearish in nearest term testing 110.50 area. Immediate resistance is seen around 111.50 (current high). A clear break back above that area could lead price to neutral zone in nearest term as direction would become unclear.

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July 23rd, 2018 @ 2:56 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum last week after a failure to break above 1.0055 key resistance area as you can see on my H4 chart below, bottomed at 0.9915 and hit 0.9901 earlier today in Asian session. The bias is bearish in nearest term testing 0.9855 but note that 0.9855 – 0.9787 region is a good place to buy. Immediate resistance is seen around 0.9950. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear.

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