Thu, 11th of June, 2009

By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook

The EURUSD had a moderate bearish momentum yesterday. On h4 chart below we can see that the pair is retesting the bullish trendline. The bias is neutral in nearest term and I think it’s better to stay away now and wait for further development. Immediate support is seen at 1.3880 followed by 1.3790. Initial resistance at 1.4141 (yesterday’s high). Break above that area should trigger further bullish momentum towards 1.4240. CCI in neutral area both in h4 and daily chart.

EURUSD Daily Supports and Resistances:

  • S1= 1.3885
  • S2= 1.3787
  • S3= 1.3659
  • R1= 1.4111
  • R2= 1.4239
  • R3= 1.4337
  • GBPUSD Outlook

    The GBPUSD attempted to continued it’s bullish momentum yesterday. The pair topped at 1.6471 but the bullish power seemed limited as the pair closed lower at 1.6356. The bias is neutral in nearest term but bullish scenario in medium term remains intact. Immediate support is seen at 1.6315 followed by 1.6215. Initial resistance at 1.6471 (yesterday’s high) Break above that area should trigger further bullish momentum retesting 1.6660 area. CCI in neutral area on h1 chart.

    GBPUSD Daily Supports and Resistances:

  • S1= 1.6240
  • S2= 1.6124
  • S3= 1.6009
  • R1= 1.6471
  • R2= 1.6586
  • R3= 1.6702
  • USDJPY Outlook

    The USDJPY had a bullish momentum yesterday. The pair topped at 98.42 and closed at 98.09. For me this fact indicating unclear direction for nearest term as the pair still moving in triangle area on daily chart (consolidation). Immediate resistance is seen at 98.90. Break above that area could trigger further bullish momentum towards 99.70 area. CCI in neutral area on h4 chart.

    USDJPY Daily Supports and Resistances:

  • S1= 97.30
  • S2= 96.52
  • S3= 95.96
  • R1= 98.64
  • R2= 99.20
  • R3= 99.98
  • USDCHF Outlook

    The USDCHF didn’t make significant movement yesterday. On h4 chart below we have a triangle formation indicating consolidation phase. The bias is neutral in nearest term and I think we are now in no trading zone. Immediate support is seen at 1.0720 (yesterday’s low). Initial resistance at 1.0880. CCI in neutral area both on h4 and daily chart.

    USDCHF Daily Supports and Resistances:

  • S1= 1.0729
  • S2= 1.0656
  • S3= 1.0593
  • R1= 1.0865
  • R2= 1.0928
  • R3= 1.1001
  • Have a great day!