Mon, 19th of January, 2009
By Setyo Wibowo (email@example.com)
The EURUSD was corrected higher on Friday. The pair topped at 1.3343 and closed at 1.3266. We have about 80 pips gap today as the market opened higher at 1.3349. On both hourly and 4h chart we have a minor bullish channel. The bias is bullish in nearest term testing the 1.3530 resistance area but the bearish scenario in longer term is still intact. Initial support at 1.3250. CCI just cross -100 line up on daily chart suggesting a potential upside pressure.
EURUSD Daily Supports and Resistances:
The GBPUSD attempted to push higher on Friday. The pair topped at 1.4979 but further bullish momentum was rejected as the pair closed lower at 1.4732. However early today in Asian session the pair was opened higher at 1.4867 which means we have more than 100 pips gap. The bias is neutral in nearest term but the bearish scenario in longer term is still intact. The key level at this phaseÂ is 1.5000 psychological resistance. A break above that resistance could trigger further weakness for the Greenback. CCI just cross the 100 line up on 4h chart suggesting a potential upside pressure.
GBPUSD Daily Supports and Resistances:
The USDJPY continued it’s bullish momentum yesterday. The pair hit my long target at 90.80, topped at 90.89 and closed at 90.71. The bias remains bullish in nearest term targeting 91.75. CCI in overbought area and heading down on hourly chart so watch out for a potential downside pressure testing support area at 90.50 followed by 89.50.
USDJPY Daily Supports and Resistances:
The USDCHF didn’t make a significant movement on Friday. The pair seem to move in rectangle formation between 1.1285 and 1.1100 area indicating a consolidation phase. The bias is neutral in nearest term. A break from the rectangle formation should give us a clearer direction. CCI just cross the 100 line down on daily chart suggesting a potential downside pressure.
USDCHF Daily Supports and Resistances:
Have a great day!