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Daily Forecast for Crosses: June 30

Daily Forecast for Crosses: June 30
Tuesday, June 30th, 2009 @ 12:41 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

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EURJPY Forecast
As I had expected, the EURJPY had a bullish momentum yesterday. The pair topped at 135.46 and closed at 135.27. Earlier today in Asian session the pair keep moving relatively higher around 135.60 at the time I wrote this comment. The bias is bullish in nearest term targeting 136.30. Immediate support is seen at 135.35 – 134.80 area. Break below that area should be seen as bullish failure and bring us into no trading zone.


GBPJPY Forecast
The GBPJPY finally had a convincing bullish momentum after 4 days of indecisive movement. The pair topped at 159.29 and closed at 159.11. The bias is bullish in nearest term but watch out for potential strong resistance around 159.60 area. Break above that area should trigger further bullish momentum targeting 161.20. Immediate support is seen at 158.50. Break below that area should take us back into no trading zone.


AUDUSD Forecast
The AUDUSD attempted to push lower yesterday, bottomed at 0.7982 but further bearish momentum was rejected as the pair closed higher at 0.8080. I have 2 technical focus on this movement. First, the pair able to stay outside the triangle. Second, the pair stay above 0.8050. Both support the bullish side in nearest term targeting 0.8150 and 0.8260. Immediate support is seen at 0.7982 (yesterday’s low). Break below that area should lead us back into no trading zone. CCI about to cross the 100 line up on daily chart suggesting potential upside pressure.


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