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2018 July

July 10th, 2018 @ 3:08 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD was indecisive yesterday. Price attempted to push higher topped at 1.1790 but closed lower at 1.1750. The bias is neutral in nearest term. Overall price is still in a bullish short term bias but as you can see on my H1 chart below, we have a potential H&S bearish formation which will be validated by a clear break below the neckline located around 1.1730 testing 1.1690 – 1.1650 region. On the upside, we need a clear break above1.1790 to invalidate the H&S bearish scenario and resume the bullish phase testing 1.1850 resistance area.

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July 10th, 2018 @ 3:06 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD attempted to push higher yesterday topped at 1.3362 but whipsawed to the downside and closed lower at 1.3256. As you can see on my H4 chart below, price rejected above EMA 200 but 1.3200 support area still holds so far. The bias is neutral in nearest term. Immediate resistance is seen around 1.3275. A clear break above that area could trigger further bullish pressure retesting the EMA 200 (1.3315) which need to be clearly broken to the upside to resume the bullish phase targeting 1.3400 region. On the downside, a clear break back below 1.3200 would invalidate the bullish phase testing 1.3100 – 1.3000 region.

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July 10th, 2018 @ 3:05 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 110.90 and hit 111.05 earlier today in Asian session. Price broke above the range area as you can see on my H1 chart below suggests a bullish view. The bias is bullish in nearest term especially if price able to make a clear break above 111.13 targeting 111.40 or higher but note that we have a major resistance area near 112.00 region which is a good place to sell. Immediate support is seen around 110.75. A clear break back below that area could lead price to neutral zone in nearest term retesting 110.28 support area.

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July 10th, 2018 @ 3:03 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF attempted to push lower yesterday bottomed at 0.9857 but whipsawed to the upside and closed higher at 0.9914. The bias is bullish in nearest term testing 0.9950 but key resistance remains at 0.9980 region which is a good place to sell with a tight stop loss. Immediate support is seen around 0.9890. A clear break below that area could lead price to neutral zone in nearest term retesting 0.9855 support area which remains a good place to buy with a tight stop loss.

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July 9th, 2018 @ 4:41 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD attempted to push lower last week bottomed at 1.1591 but whipsawed to the upside and closed higher at 1.1741 and hit 1.1767 earlier today in Asian session. The bias is bullish in nearest term testing 1.1850 resistance area as a part of the bullish phase since bounced-off 1.1510 support area. It might be a little too early to say that the major bearish trend is over, but price slipped above the EMA 200 as you can see on my H4 chart below which is a serious threat to the bearish trend and a clear break above 1.1850 would be good validation to a new established bullish trend. Immediate support is seen around 1.1720/00 region. A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.1650 area.

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July 9th, 2018 @ 4:40 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD had a bullish momentum last week topped at 1.3290 and hit 1.3318 earlier today in Asian session. The bias is bullish in nearest term especially if price able to make a clear break above 1.3315 testing 1.3400 region. Immediate support is seen around 1.3250. A clear break below that area could lead price to neutral zone in nearest term but as long as stay above 1.3200 I still prefer a bullish scenario at this phase as a part of the bullish phase after broke above the bearish channel as you can see on my H4 chart below.

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July 9th, 2018 @ 4:38 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY didn’t make significant movement last week. The bias is neutral in nearest term. Price is trapped between 110.75 – 110.28 range area as you can see on my H1 chart below. We need a clear break from that range area to see clearer direction. A clear break above 110.75 would retest 111.15/40 resistance area. On the other hand, a clear break below 110.28 could trigger further bearish pressure testing the trend line support located around 109.85 region which is a good place to buy with a tight stop loss.

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July 9th, 2018 @ 4:35 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another indecisive movement last week, printed a small Doji on weekly chart. Price is still trapped between 0.9980 – 0.9855 range area as you can see on my H1 chart below. There are no changes in my technical outlook. The bias is neutral in nearest term. The best trading plan remains to buy around 0.9855 or sell around 0.9980 with a tight stop loss.

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