Written by Bahagian Pentadbiran in
| Daily Forecast for Crosses
Thu, April 21, 2011 | Dear Fellow Trader,
Setyo here with the latest daily forex update from the FX Instructor Forex Blog.
If you have any questions about today's update - please reply to this email and I will be happy to help. | | EURJPY Forecast The EURJPY continued its bullish momentum yesterday, topped at 120.38 but still struggling around the trend line resistance as you can see on my h4 chart below. The bias remains bullish in nearest term still targeting 121.40 but need a clear break above 120.38 to continue the bullish pressure. CCI is moving up above zero level but still unable to move above 100 line suggests potential upside pressure but need a movement above 100 line to find good and strong bullish momentum. Immediate support at 119.30. A clear break below that area would change the intraday bias to bearish testing 118.72 (yesterday's low).
Please click here to see how I applied my technical studies to this pair on the 4 hour chart a few minutes ago. |
GBPJPY Forecast The GBPJPY was indecisive yesterday, made a Doji on daily chart and now still struggling around 135.00 area. The bias is neutral in nearest term. CCI is moving down below zero level on daily chart suggests more bearish intraday bias but need a movement below -100 to continue the bearish pressure testing 132.50. Immediate support to be tested is around 133.75/50. A clear break below that area would trigger further bearish pressure testing 132.50 even lower. The overall technical bias remains to the downside but a strong Yen appreciation could trigger another intervention to weaken the Yen. Immediate resistance at 135.80. A clear break above that area would change the intraday bias to bullish testing 137.00 resistance area.
Please click here to see how I applied my technical studies to this pair on the daily chart a few minutes ago. |
AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday after a strong break out above 1.0581 and hit another new historical high at 1.0770 earlier today in Asian session. The bias remains bullish in nearest term testing 1.0850 - 1.0900 new historical high projection. Immediate support at 1.0670. A clear break below that area would lead us to neutral zone in nearest term testing 1.0600 but overall the technical bias remains strongly to the upside. Please click here to see how I applied my technical studies to this pair on the daily chart a few minutes ago.
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| I hope you enjoyed today's forex update! If you have any questions or suggestions, reply to this email - or visit me at the FX Instructor Blog. Happy Trading! | | | Analyst Profile Living in East Java, Indonesia and holding an International Relations degree, Setyo Wibowo began his forex trading career in 2000 as a market analyst, while learning to trade forex independently on his own. to learn more about Setyo Wibowo. |
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