Trend is bullish in four hours chart. Important support is present at 0.7475 price level. In past few trading days, price is trying to print a possible bullish Running Triangle pattern. In my judgement, price has completed bearish Wave c. Now, price is…
Author: FXOpen
Traders I picked this pair to show you there are times when you do not trade. The reason is that the Yen is at a 17 month high. I read an story in the Bangkok Post this morning where PM Abe said NO to any kind of intervention. If you take a look at price action for the past three days on this chart you can see traders are staying away as this is very unsettling if I was in a Yen pair trade please protect yourself.I would stay away from trading any Yen pair till we see some kind of conformation in the next couple of trading days.
Thank you traders and talk soon….William
EURUSD Forecast
The EURUSD had another indecisive movement yesterday. Price slipped below 1.1335 but closed higher at 1.1397. The bias remains neutral in nearest term. Potential daily range today is seen between 1.1500 – 1.1335. As long as stay above 1.1335 price is still in a bullish phase testing 1.1500 which remains a good place to sell with a tight stop loss. On the downside, a clear break and daily close below 1.1335 could trigger further bearish pressure testing 1.1250 or lower. My major technical outlook remains neutral.
GBPUSD Forecast
The GBPUSD attempted to push lower yesterday slipped below 1.4050 but closed higher at 1.4121. The bias is neutral in nearest term but looks like we have a potential false break bullish scenario especially if price able to make a clear …
USDJPY Forecast
The USDJPY continued its bearish momentum yesterday and hit 109.15 earlier today. The bias remains bearish in nearest term testing 108.50 area. Immediate resistance is seen around 110.00. A clear break above that area could lead price t…
USDCHF Forecast
The USDCHF had another indecisive movement yesterday. The bias remains neutral in nearest term. Overall my technical outlook remains bearish but need a clear break and consistent move below 0.9570 to continue the bearish scenario targeting 0.9475 – 0.9380 region. Immediate resistance remains around 0.9625. A clear break above that area could trigger further bullish pressure testing 0.9715 region.
Trend is bearish in 4 hours time frame. Vital resistance is present at 1.3295 price level. Price has move up, which looks like a possible bearish Running Triangle pattern that belongs to Wave 4. Based on Elliott wave analysis, price should start the de…
EURUSD Forecast
The EURUSD had another indecisive movement yesterday. The bias remains neutral in nearest term. As long as stay above 1.1335 price is still in a bullish phase testing 1.1500 which remains a good place to sell with a tight stop loss. On the downside, a clear break and daily close below 1.1335 could trigger further bearish pressure testing 1.1250 or lower. My major technical outlook remains neutral.
GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday bottomed at 1.4121. The bias is bearish in nearest term testing 1.4050 area. Immediate resistance is seen around 1.4200/25. A clear break above that area could lead price to neutral zone in ne…
USDJPY Forecast
The USDJPY had a significant bearish momentum yesterday, broke below 110.96 key support as you can see on my daily chart below. The bias is bearish in nearest term testing 109.50 area. Immediate resistance is seen around 110.96. A clear…