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2018 July

July 6th, 2018 @ 5:09 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. Price is still in a short term bullish phase since bounced-off 1.1510 key support but still unable to break above 1.1720 resistance area which located around H4 EMA 200 as you can see on my H4 chart below. The major bearish trend remains valid. A clear break above 1.1720 would be a serious threat to the major bearish trend with a clear break above 1.1850 as confirmation of a new bullish trend. Immediate support is seen around 1.1650. A clear break below that area could trigger further bearish pressure testing 1.1600 region but key support remains at 1.1510 which need to be clearly broken to the downside to resume the major bearish trend. Fundamental focus today will be on the US NFP data.

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July 6th, 2018 @ 5:08 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday. The bias is neutral in nearest term. The violation of the bearish channel has not produce significant bullish momentum so far, but unless price fall back below 1.3170 my overall short term bias remains to the upside with nearest target seen around 1.3315 region. On the downside, a clear break back below 1.3170 would reactivate my bearish mode testing 1.3100 or lower. Fundamental focus today will be on the US NFP data.

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July 6th, 2018 @ 5:06 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had another indecisive movement yesterday but traded higher earlier today in Asian session hit 110.77 after failed to break below 110.28 support area as you can see on my H1 chart below. The bias is bullish in nearest term testing 111.10/40 area. Immediate support is seen around 110.50. A clear break back below that area could lead price to neutral zone in nearest term as direction would become unclear retesting 111.28 support area. Fundamental focus today will be on the US NFP data.

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July 6th, 2018 @ 5:05 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another insignificant movement yesterday. There are no changes in my technical outlook. The bias remains neutral in nearest term. Price is still trapped between 0.9980 – 0.9855 range area since June 14 as you can see on my H1 chart below. The best trading plan remains to buy around 0.9855 or sell around 0.9980. Fundamental focus today will be on the US NFP data which has the ability to be a catalyst to break the range area and set a clearer direction.

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July 5th, 2018 @ 4:10 am by Setyo Wibowo

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EURUSD Forecast
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term probably with a little bullish bias. From H4 chart perspective as you can see on my H4 chart below, the major trend is bearish but price has been trapped between 1.1720 – 1.1510 range area for more than two weeks now. Immediate support is seen around 1.1630. A clear break below that area could trigger further bearish pressure testing 1.1590 region. On the upside, a clear break and daily close above 1.1720 would expose 1.1850 key resistance area. On the downside, we need a clear break below 1.1510/00 region to resume the major bearish trend testing 1.1350/00 area.

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July 5th, 2018 @ 4:09 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday topped at 1.3249. Although the bullish momentum is not so convincing, price already violates the bearish channel and only a movement back below 1.3170 would keep the bearish phase intact. The bias is bullish in nearest term testing 1.3315 area (H4 EMA 200). Immediate support is seen around 1.3170. A clear break and daily close back below that area would invalidate the bullish view and reactivate my bearish mode testing 1.3100 region before retesting 1.3050 area.

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July 5th, 2018 @ 4:08 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY was indecisive yesterday but overall still able to maintain its bearish short term bias. The bias remains bearish in nearest term especially if price able to make a clear break below 110.28 targeting the trend line support located around 109.80 area 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 110.50/75 area. A clear break above that area could lead price to neutral zone in nearest term testing 111.40 resistance area.

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July 5th, 2018 @ 4:07 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had another indecisive movement yesterday. The bias remains neutral in nearest term and there are no changes in my technical outlook. Price is still trapped between 0.9980 – 0.9855 since 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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