EURUSD Daily Forecast: March 23

EURUSD Forecast    
The EURUSD had a bullish momentum last week after the FOMC, topped at 1.1040 but closed lower at 1.0823. The bias is neutral in nearest term probably with a little bullish bias testing 1.0900 area. Immediate support is seen around 1.0750. A clear break below that area could trigger further bearish pressure testing 1.0700 area. I still prefer to stand aside for now and wait for further development.

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GBPUSD Daily Forecast: March 23

GBPUSD Forecast
The GBPUSD had a bullish momentum last week after the FOMC, topped at 1.5164 but closed lower at 1.4948. The bias is neutral in nearest term probably with a little bullish bias testing 1.5000 area. Immediate support is seen around 1.488…

USDJPY Daily Forecast: March 23

USDJPY Forecast
The USDJPY had a bearish momentum last week and now testing the lower line of the bullish channel as you can see on my h4 chart below. The bias is bearish in in nearest term especially if price able to make a clear break below the bullish channel and 119.75 support area testing 119.30 – 119.00 or lower. Immediate resistance is seen around 120.30. A clear break above that area could lead price to neutral zone in nearest term testing 121.00 region.

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USDCHF Daily Forecast: March 23

USDCHF Forecast
The USDCHF had a bearish momentum last week after the FOMC, bottomed at 0.9623 but closed higher at 0.9744. The bias is neutral in nearest term. Important intraday range to closely watched is seen between 0.9730 – 0.9850. A clear break and daily close above 0.9850 could trigger further bullish pressure testing 0.9900 – 0.9980. On the other hand, a clear break below 0.9730 could trigger further bearish pressure retesting 0.9623 area.

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GBPUSD Pre London Open Trade Plan

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Hello traders good to be back with you on this Friday. I would like to talk about this trade plan for the GBPUSD as you can see we are at support and would like to see some price action. I have placed the Fibonacci tool on the chart as you can see. What i am waiting for is a pullback even if it is a small one and look to sell this pair. I have placed a rectangle on the chart showing the entry levels where it would be nice to short this pair from there. It is very possible that this just might drop and give us no pullback as the GBP is good for that. If that happens enter the trade and use the previous support as resistance and place your stop according to your money management rules. The stop is at the daily pivot point as shown on the chart as well as the take profit at 146.10 area.Expect a bounce at the S2 pivot I do not think this will be a big deal as this pair is strong to sell as the dollar is very strong. Traders enjoy your weekend break and talk with you soon….. William