Thu, 07th of May, 2009
By Setyo Wibowo (firstname.lastname@example.org)
The EURUSD made indecisive movement yesterday, formed a Doji formation on daily daily chart. On h4 chart below we can see that the pair is struggling around the rising wedge support line. The bias is neutral in nearest term and I think it’s better to stay away from the market as price has no clear direction. Immediate support is seen at 1.3225 followed by 1.3150. Initial resistance at 1.3372 (yesterday’s high) followed by 1.3436. CCI in neutral area on both hourly and h4 chart.
EURUSD Daily Supports and Resistances:
The GBPUSD had another moderate bullish momentum yesterday. On hourly chart we can see that the trendline support still doing a good job preventing further bearish pressure. The bias remains neutral in nearest term. We seem to have important resistance around 1.5159 area. Break above that area could trigger further bullish momentum testing 1.5250 resistance area. Immediate support is seen at 1.5090 followed by 1.5000 area. CCI in overbought area and heading down on hourly chart suggesting a potential downside pressure testing the trendline support again.
GBPUSD Daily Supports and Resistances:
The USDJPY had a moderate bearish momentum yesterday. On hourly chart below we can see that the pair breakdown from the rectangle area but seem hesitate to make further bearish movement. The trendline support should give us a good support at this phase. Break below the trendline support could trigger further bearish momentum. Immediate resitance is seen at 99.05 â€“ 99.55 area. CCI just cross the 100 line up on hourly chart suggesting a potential upside pressure.
USDJPY Daily Supports and Resistances:
The USDCHF made indecisive movement yesterday formed a Doji formation on daily chart. On hourly chart below we have triangle formation indicating consolidation. The bias is neutral in nearest term. Immediate support is seen at 1.1289 (yesterday’s low) followed by 1.1245. Initial resistance at 1.1390. CCI in neutral area on h4 chart.
USDCHF Daily Supports and Resistances:
Have a great day!