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2018 July

July 12th, 2018 @ 4:14 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had a bearish momentum yesterday bottomed at 1.1665. The bias is bearish in nearest term as a part of the H&S bearish formation as you can see on my H1 chart below, targeting 1.1600 region. Immediate resistance is seen around 1.1700 area. A clear break above that area could lead price to neutral zone in nearest term testing 1.1750/65 region. On the downside, a clear break and daily close below 1.1600 would retest 1.1510/00 key support area.

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July 12th, 2018 @ 4:10 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.3200 and hit 1.3189 earlier today in Asian session. The bias is bearish in nearest term testing 1.3100 – 1.3050 support area especially if price able to make a clear break and consistent movement below 1.3200. Immediate resistance is seen around 1.3225. A clear break above that area could lead price to neutral zone in nearest term testing 1.3275 or higher.

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July 12th, 2018 @ 4:08 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a significant bullish movement yesterday, slipped above the major bearish channel as you can see on my daily chart below. This fact could be an early stage of a new major bullish trend. The bias is bullish in nearest term testing 113.00 area. Immediate support is seen around 111.90. A clear break back below that area could lead price to neutral zone in nearest term but only a clear break back below 111.40 would invalidate the bullish view.

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July 12th, 2018 @ 3:51 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bullish momentum yesterday topped at 0.9965. The bias is bullish in nearest term retesting 0.9980 key resistance area which remains a good place to sell with a tight stop loss above 1.0000. Immediate support is seen around 0.9935. A clear break back below that area could lead price to neutral zone in nearest term testing 0.9900 but key support remains at 0.9855 which remains a good place to buy with a tight stop loss. We need a clear break from the range area to see clearer direction.

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July 11th, 2018 @ 4:05 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had another indecisive movement yesterday. The bias is neutral in nearest term. Price attempted to push lower after broke below the neckline of the H&S formation as you can see on my H1 chart below but closed higher at 1.1744 after bounced-off the EMA 200. The technical target of the H&S pattern has been reached, but only a clear break back at least above 1.1765 would invalidate the H&S bearish scenario testing 1.1850 area. On the downside, we need a clear break below 1.1690 to resume the bearish run testing 1.1650/00 region.

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July 11th, 2018 @ 4:04 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. Overall price is still in a bullish phase after broke above the bearish channel but rejected above the EMA 200 as you can see on my H4 chart below. Potential range area is seen between 1.3315 – 1.3200 which need to be broken to see clearer direction. A clear break above 1.3315 would expose 1.3400 area. On the other hand, a clear break below 1.3200 would invalidate the bullish phase testing 1.3100 – 1.3000 region.

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July 11th, 2018 @ 4:03 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday. Price attempted to push higher topped at 111.35 but closed a little bit lower at 111.00. The bias is neutral in nearest term probably with a little bullish bias testing 111.40 region but note that we have a key/major resistance around 112.00 region which is a good place to sell. Immediate support is seen around 110.75. A clear break below that area could trigger further bearish pressure testing 110.28 and the trend line support as you can see on my H1 chart below.

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July 11th, 2018 @ 4:02 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF was indecisive yesterday. Price attempted to push higher topped at 0.9961 but closed lower at 0.9917. The bias is neutral in nearest term probably with a little bearish bias testing 0.9855 support area which remains a good place to buy with a tight stop loss. On the upside, 0.9980 remains a key short-term resistance which is a good place to sell with a tight stop loss.

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