Wed, 22th of April, 2009
By Setyo Wibowo (firstname.lastname@example.org)
The EURUSD made indecisive movement yesterday. The pair attempted to make higher correction, topped at 1.2992 but closed lower at 1.2945. From the bearish scenario point of view since the downside momentum from 1.3734, as long as the pair stay below 1.3100, any upside corrective movement is â€œnormalâ€. The bias is neutral in nearest term and I think we are now in no trading zone. On daily chart we had symmetrical triangle formation indicating a consolidation. The â€œdouble bottomâ€ at 1.2890 (April 20 and 21 low) area should be the key support level at this phase. Break below that area could trigger further bearish scenario towards 1.2725 area. CCI in neutral area on both hourly and h4 chart.
EURUSD Daily Supports and Resistances:
The GBPUSD was corrected higher yesterday. On h4 chart we can see that after breakdown the trendline support, the pair moved higher testing the same trendline (now become resistance). The bias is neutral in nearest term and we are entering the no trading zone. Immediate resistance is seen at 1.4750. Initial support at 1.4550. CCI in neutral area both on h4 and daily chart.
GBPUSD Daily Supports and Resistances:
The USDJPY was traded higher yesterday. The pair topped at 98.89 and closed at 98.70. On h4 chart we can see that the bearish pressure from 101.43 found strong support around 97.60/70 area. The bias is neutral in nearest term and it’s better to stay away from the market now and wait for further development. Immediate resistance is seen at 99.00 area. Break above that area could trigger further bullish momentum. CCI in neutral area both on h4 and daily chart.
USDJPY Daily Supports and Resistances:
The USDCHF made indecisive movement yesterday. On hourly chart below we can see that after had a significant bullish momentum, the pair is now moving in ranging area between 1.1739 â€“ 1.1635. The bias remains neutral in nearest term. Break from the ranging area could give us clearer direction. CCI in neutral area both on hourly and h4 chart.
USDCHF Daily Supports and Resistances:
Have a great day!