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September 19th, 2014 @ 4:54 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD failed to continue its bearish momentum yesterday, slipped above 1.2910. The bias is neutral in nearest term, probably with a little bullish bias testing 1.2980 resistance area. Immediate support is seen around 1.2895. A clear break below that area could trigger further bearish pressure retesting 1.2850 key support which need to be clearly broken to the downside to continue the major bearish scenario testing 1.2800 – 1.2750. On the upside, a clear break and daily/weekly close above 1.2980 could trigger further bullish correction testing 1.3050 or higher. Overall I remain bearish.

eurusdhourly

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September 19th, 2014 @ 4:50 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD had a strong bullish momentum yesteday and hit 1.6523 earlier today following hope that Scotland will stay part of UK after a YouGov survey says 54% vote for “No” and 46% for “Yes”. Technically, although the major bearish scenario remains valid, the bias is strongly bullish in nearest term testing the daily EMA 200 located around 1.6620. Immediate support is seen around 1.6400. A clear break below that area could lead price to neutral zone in nearest term but we need a clear break back at least below 1.6300 to keep the bearish scenario remains strong.

gbpusddaily

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September 19th, 2014 @ 4:48 am by Setyo Wibowo

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USDJPY Forecast

The USDJPY continued its bullish momentum yesterday and hit 109.44 earlier today. The bias remains bullish in nearest term testing 110.25/65. Immediate support is seen around 108.60. A clear break below that area could lead price to neutral zone in nearest term but any downside pullback now is normal and should be seen as a corrective movement and overall I remain bullish.

usdjpydaily

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September 19th, 2014 @ 4:43 am by Setyo Wibowo

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USDCHF Forecast

The USDCHF failed to continue its bullish momentum yesterday bottomed at 0.9330. The bias is neutral in nearest term, probably with a little bearish bias testing 0.9280 support area. Immediate resistance is seen around 0.9360. A clear break above that area could trigger further bullish pressure testing 0.9395 – 0.9450. Overall I remain bullish.

usdchfdaily

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September 18th, 2014 @ 2:28 pm by Mark De La Paz

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Latest polling according to the UK Telegraph is showing a slight margin for the neighs on the Scottish referendum with about 8 percent undecided. Technically that’s a big enough number that the Yeas could still get their numbers. From a psychological standpoint however people who sit on the fence have a preference for the status quo, there is a fear of the unknown and an independent Scotland is a big uncertainty. Will have my pension tomorrow? Will social services continue as they are? Are my taxes going to rise. Against such concerns I would lean on the 8% going mostly the neighs direction. For a trade we should favor a quick surge for the British Pound though protecting against the downside will be difficult as a surprise yes could see dealers gapping the market down hitting stops at the worst possible price. For those preempting the buy side, go get some put options instead of hedging in the spot market.

 

Polls for the Scottish referendum continue to indicate a narrow lead for the No campaign. The last three polls to be released on the eve of the referendum suggested the following:

• Ipsos Mori: Yes 49%, No 51%

• YouGov: Yes 48%, No 52%

• Survation: Yes 47%, No 53%

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September 18th, 2014 @ 5:26 am by Mark De La Paz

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Markets reaction to prospects of a 3.75% Fed Fund rate by 2017 was a clear dollar rally with only Cable not showing that solid strong dollar real body. The implication of the majority’s expectations on rates is clear, we will see the Fed raising rates nearly every other meeting from the middle of 2015, thus markets excitement. MetaTrader - FX Clearing

But before people start buying the greenback by the boat load lets consider what else was said by the FOMC Chair Yellen. While indeed the FOMC admits the potential for a faster pace of tightening it is also worth mentioning that they recognize the difficulties involved in forecasting economic conditions, things on the ground could change,  after all economics is not a hard science of rules. As such we expect that markets strong dollar response may find it very difficult to get a follow through going.

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September 18th, 2014 @ 4:26 am by Setyo Wibowo

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EURUSD Forecast    

The EURUSD had a bearish momentum yesterday and slipped below 1.2850 earlier today. The bias is bearish in nearest term testing 1.2800 – 1.2750. Immediate resistance is seen around 1.2910. A clear break above that area could lead price to neutral zone in nearest term retesting 1.2980 but overall I remain bearish.

eurusdhourly

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September 18th, 2014 @ 4:21 am by Setyo Wibowo

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GBPUSD Forecast

The GBPUSD attempted to push higher yesterday, slipped above 1.6340 but whipsawed to the downside and closed lower at 1.6268 and hit 1.6245 earlier today. The bias is bearish in nearest term testing 1.6210 – 1.6155. Immediate resistance is seen around 1.6310. A clear break above that area could lead price to neutral zone in nearest term retesting 1.6340. Overall I remain bearish.

gbpusddaily

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