Wed, 25th of February, 2009
By Setyo Wibowo (firstname.lastname@example.org)
The EURUSD had a bullish momentum yesterday. The pair topped at 1.2875 and closed at 1.2844. On 4h chart we have a symmetrical triangle formation indicating consolidation phase. The bias is neutral in nearest term. A break from the triangle formation would give us clearer direction. Immediate resistance is seen at 1.2880. Break above that level could trigger further bullish scenario towards 1.3030 area. CCI about to cross the 100 line down on hourly chart suggesting a potential downside pressure testing 1.2790 and 1.2750 support area.
EURUSD Daily Supports and Resistances:
The GBPUSD made indecisive movement yesterday, formed a Doji formation on daily chart. The bias is neutral in nearest term. We still have bearish channel on hourly chart and price seem to test the channel line resistance now. A breakout to the upside would trigger further bullish scenario testing 1.4637 area.Â Immediate support at 1.4465 followed by 1.4350. CCI in neutral area on daily chart.
GBPUSD Daily Supports and Resistances:
As I had expected, the USDJPY had a significant bullish momentum yesterday. The pair hit my long target at 95.50, even further, topped at 96.92 and closed at 96.62. The bias remains bullish targeting 97.52 area. CCI just cross the 100 line down on hourly chart so watch out for a minor downside pullback testing 95.90 support area.
USDJPY Daily Supports and Resistances:
The USDCHF was traded lower yesterday. The pair bottomed at 1.1533 and closed at 1.1600. On 4h chart we have a moderate bullish channel inside 1.1880 - 1.1313 area. The bias is neutral both in nearest and medium term. I think it’s better to stay away now. Immediate support is seen at 1.1533 (yesterday’s low) followed by 1.1460. Initial resistance at 1.1720. CCI in neutral area on 4h chart.
USDCHF Daily Supports and Resistances:
Have a great day!