Thu, 19th of February, 2009
By Setyo Wibowo (email@example.com)
The EURUSD made a moderate bearish momentum yesterday. The pair opened at 1.2581 and closed at 1.2526. The pair is now traded around 1.2560 at the time I wrote this comment. On hourly chart we have bearish market scenario but we also have an ascending triangle formation, so watch out for a potential minor bullish reversal. The bias is neutral in nearest term but remains bearish in medium term. Immediate resistance at 1.2650 - 1.2700 area. Initial support at 1.2500. Break below that support level could trigger further bearish scenario towards 1.2300 area. CCI just cross the -100 line up on hourly chart suggesting a potential upside pressure.
EURUSD Daily Supports and Resistances:
The GBPUSD failed to break from the rectangle formation yesterday. The pair attempted to push lower, bottomed at 1.4090 but further bearish scenario was rejected as the pair closed higher at 1.4208, made a Doji candlestick formation on daily chart indicating indecisive market. The bias remains neutral in nearest term. Immediate resistance at 1.4300. Break above that level could trigger further bullish momentum. Initial support at 1.4130 followed by 1.4050. CCI in neutral area on daily chart.
GBPUSD Daily Supports and Resistances:
After break to the upside of 92.70, the USDJPY made a significant bullish momentum yesterday. The pair topped at 93.95 and closed at 93.79. The bias remains bullish in nearest term targeting 94.60 but remains neutral in medium term. Immediate resistance is seen at 93.90. Initial support at 92.30. CCI just cross the 100 line down on hourly chart suggesting a potential downside pressure.
USDJPY Daily Supports and Resistances:
The USDCHF continued it’s bullish momentum yesterday. The pair topped at 1.1825 and closed at 1.1780. However the pair was traded lower early today in Asian session at 1.1735 at the time I wrote this comment. On 4h chart we can see that the pair made a false breakout of the ascending triangle formation and moved lower back inside the triangle. CCI just cross the 100 line down supporting potential downside pressure. The bias is neutral in nearest term.Â Immediate resistance at 1.1825 (yesterday’s high). Initial support at 1.1715 followed by 1.1650.
USDCHF Daily Supports and Resistances:
Have a great day!