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April 25th, 2015 @ 4:54 pm by The Geek

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Good day forex traders and readers.

In the previous AUD/USD forecast we noted the currency pair was bullish for the week. It did test the 0.7620 region as expected. The AUD/USD remained supported by 0.7620 and we might be entering a consolidation period. Any bearish momentum would definitely need to overcome the support. Bullish target remained as 0.7780. The bottom bollinger band was turning bullish and hence we should monitor closely.

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Technical Analysis

Looking at the AUD/USD weekly chart above we note that the currency pair was bullish. As expected, 0.778 was achieved. The currency pair is now at the top of the current consolidation range and close monitoring is required.

Immediate resistance lies around 0.7850 – 0.7900. An extended bullish target will be 0.8. Any bearish return will likely target 0.778 and down to 0.7600.

As mentioned previously, the bottom bollinger band is now bullish and hence this bullish momentum may be around for the short term.

Don’t miss the full forecast
continue on to TheGeekKnows.com for the fundamental analysis of the AUD/USD Forecast Weekly Review to understand more about the underlying market sentiments.

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April 24th, 2015 @ 10:54 pm by Muhammad Azeem

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eur-audThe EUR/AUD currency pair has changed the bullish movement into a down trend in one hour time frame and now it is a bearish trend. Short term resistance is present at 1.4015 price level. Since yesterday, the EUR/AUD currency pair is moving down and this looks like a weak bearish leg. As long as price movement looks bearish, I would be probably looking for sell trades. If bullish candlestick closes above 1.4015 critical resistance level then down trend is going to end. In such situation, I would avoid trading and just keep re-analyzing the price movement.

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April 24th, 2015 @ 1:04 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD had a bullish momentum yesterday after another failure to break below 1.0670 support area topped at 1.0844. The bias is bullish in nearest term especially if price able to make a clear break above 1.0850 testing 1.0900 – 1.0950 region. Immediate support is seen around 1.0750. A clear break below that area could lead price to neutral zone in nearest term retesting 1.0670 key support area.

eurusdhourly

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April 24th, 2015 @ 1:00 am by Setyo Wibowo

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GBPUSD Forecast
The GBPUSD was indecisive yesterday but overall still able to maintain its bullish intraday bias so far. The bias remains bullish in nearest term  testing 1.5150 area. Immediate support is seen around 1.4950. A clear break below that area would activate my wait and see mode as direction would become unclear.

gbpusdh1

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April 24th, 2015 @ 12:58 am by Setyo Wibowo

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USDJPY Forecast
The USDJPY had a bearish momentum yesterday bottomed at 119.41. The bias is bearish in nearest term testing 119.00 – 118.50. Immediate resistance is seen around 119.70. A clear break above that area could lead price to neutral zone in nearest term testing 120.00 area. My major technical outlook remains neutral.

usdjpy4h

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April 24th, 2015 @ 12:54 am by Setyo Wibowo

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USDCHF Forecast
The USDCHF had a bearish momentum yesterday bottomed at 0.9529. The bias is bearish in nearest term retesting 0.9490 key support, which is still a good place to buy with a tight stop loss. Immediate resistance is seen around 0.9610. A clear break above that area could lead price to neutral zone in nearest term testing 0.9700 region.

usdchfhourly

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April 23rd, 2015 @ 3:06 am by William Gilday

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Screen Shot 2015-04-23 at 08.10.15

Hello traders welcome back to another trading day what an interesting chart we are looking at GBPUSD. The big question is this in a change of trend mode from the daily chart. This is the 1 hour chart. Ok traders the plan for today is we remain bearish on the daily chart and breaking resistance. I am looking for today for a bullish run as a continuation of the price action yesterday. Ok today we have placed the Fibonacci tool on the the chart and waiting for the 61.8 pullback at that time I will look for a bullish formation and look to long this pair at 1.4986 and take profit at 1.5064. I have to say the chance of this being a fake out is possible and there is a lot of data today in the London session. If you can keep a USDJPY chart open and watch to see the dollar strength or weakness as a good guide after you enter a trade using the dollar pairs. Good luck traders this is not going to be easy just follow the plan if price does not come to you stay out…. Thank You Traders Talk Soon….William

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April 23rd, 2015 @ 2:56 am by Setyo Wibowo

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EURUSD Forecast    
The EURUSD attempted to push higher yesterday topped at 1.0799 but whipsawed to the downside and slipped below the lower line of the bullish channel as you can see on my hourly chart below. The bias is bearish in nearest term, but I need a clear break below 1.0670 to reactivate my bearish mode targeting 1.0500 region. Immediate resistance is seen around 1.0750. A clear break above that area could lead price to neutral zone in nearest term but would keep the bullish correction phase remains intact testing 1.0800 – 1.0850 area.

eurusdhourly

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