Live Trading Room Quick Links:
Forex Academy Quick Links:
Misc. Quick Links:
Language:
English

2008 August

August 29th, 2008 @ 6:40 am by Johan Kriek

August 29th, 2008 @ 3:03 am by Setyo Wibowo

Click here to read the full article.

Fri, 29th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD failed to make further upside correction yesterday. The pair topped at 1.4811 before hit the bottom at 1.4671 and closed at 1.4693. However, early today in Asian market, the pair is traded higher around 1.4740 at the time I wrote this comment. My model is mixed in nearest term but still bearish in longer term. Immediate resistance is seen at 1.4777 followed by 1.4807. A failure to stay below those resistance levels could open the door for another upside correction scenario. Initial support at 1.4666 followed by 1.4615. CCI heading up towards 100 line on both hourly and 4h chart suggesting a potential upside minor correction.

EURUSD Daily Supports and Resistances:

  • S1= 1.4639
  • S2= 1.4585
  • S3= 1.4499
  • R1= 1.4779
  • R2= 1.4865
  • R3= 1.4919

GBPUSD Outlook
The GBPUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.8239 and closed a little bit higher at 1.8286. On daily chart, we see lower highs for the last 5 days and a valid bearish channel on hourly and 4h chart. My model is mixed in nearest term but still bearish in longer term. Immediate resistance is seen at 1.8340 followed by 1.8388. Initial support at 1.8239 (yesterday’s low). CCI just cross -100 line up on daily chart suggesting a potential upside correction.

GBPUSD Daily Supports and Resistances:

  • S1= 1.8216
  • S2= 1.8146
  • S3= 1.8054
  • R1= 1.8378
  • R2= 1.8470
  • R3= 1.8540

USDJPY Outlook
The USDJPY made no significant move yesterday by open and closed at almost the same price. The pair attempted to go lower, bottomed at 108.77 before hit the top at 109.71 and closed at 109.46. Early today in Asian market the pair is traded softly lower at 109.15 at the time I wrote this comment. My model goes mixed with neutral bias. Immediate resistance is seen at 109.70. Initial support at 108.70. CCI heading down towards -100 line on 4h chart suggesting a potential (but limited) bearish view.

USDJPY Daily Supports and Resistances:

  • S1= 108.91
  • S2= 108.37
  • S3= 107.97
  • R1= 109.85
  • R2= 110.25
  • R3= 110.79

USDCHF Outlook
The USDCHF attempted to push lower yesterday, bottomed at 1.0882 but failed to maintain it’s bearish momentum, hit the top at 1.1011 and closed at 1.0993. My model is mixed with neutral bias. Immediate support is seen at 1.0925 followed by 1.0882 (yesterday’s low). Initial resistance at 1.1025. CCI in neutral area on daily chart.

USDCHF Daily Supports and Resistances:

  • S1= 1.0913
  • S2= 1.0833
  • S3= 1.0784
  • R1= 1.1042
  • R2= 1.1091
  • R3= 1.1171

Have a great weekend!

Click here to read the full article.

August 28th, 2008 @ 6:44 pm by Johan Kriek

Click here to read the full article.

Hi there fellow traders!

Herewith is my daily video recap for August 28, 2008, in which I discuss what happened on the market today, in our Live Forex Trading Room.

[youtube]http://www.youtube.com/watch?v=hlqa58EIPfU[/youtube]

Today’s Probability Studies can be found on our blog right here:
http://blog.fxinstructor.com/28-august-probability-studies/

To learn more about the Live Trading Room, please click here.

Click here to read the full article.

August 28th, 2008 @ 6:00 am by Johan Kriek

August 28th, 2008 @ 4:04 am by Setyo Wibowo

Click here to read the full article.

Thu, 28th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
After hit the 6 month low on Tuesday, EURUSD was sharply corrected to the upside yesterday. The pair topped at 1.4776, closed lower at 1.4715 and traded higher early today in Asian market at 1.4770 at the time  wrote this comment. We have a bullish channel on hourly and 4h chart. CCI just cross 100 line up on 4h chart suggesting a another potential minor bullish correction. My model goes mixed with neutral bias in nearest term, but we still on bearish outlook in longer term. Immediate resistance is seen at 1.4835 followed by 1.4870. Initial support at 1.4690.

EURUSD Daily Supports and Resistances:

  • S1= 1.4640
  • S2= 1.4565
  • S3= 1.4497
  • R1= 1.4783
  • R2= 1.4851
  • R3= 1.4926

GBPUSD Outlook
The GBPUSD upside correctional momentum was limited yesterday. The pair topped at 1.8488 before whipsawed to the downside and hit the bottomed at 1.8284 and closed at 1.8342. We are still in bearish scenario in longer term, but we might have another upside correction in nearest term. My model is mixed with neutral bias. Immediate resistance is seen at 1.8405 followed by 1.8455. Initial support at 1.8315. CCI just cross -100 line up on 4h chart suggesting another potential bullish correction.

GBPUSD Daily Supports and Resistances:

  • S1= 1.8254
  • S2= 1.8167
  • S3= 1.8050
  • R1= 1.8458
  • R2= 1.8575
  • R3= 1.8662

USDJPY Outlook
Yesterday the USDJPY attempted to move lower, bottomed at 108.70 before whipsawed to the upside, topped at 109.89 and closed at 109.53. My model goes mixed with neutral bias. Immediate support is seen at 109.20. Initial resistance at 109.92. CCI in neutral area in all 3 time frames (hourly, 4h, daily).

USDJPY Daily Supports and Resistances:

  • S1= 108.85
  • S2= 108.18
  • S3= 107.66
  • R1= 110.04
  • R2= 110.56
  • R3= 111.23

USDCHF Outlook
The USDCHF downside correction seemed limited yesterday. The pair bottomed at 1.0915 but closed higher at 1.0972. I am expecting a ranging market between 1.1023 and 1.0914 today. We need a breakout to find a clearer direction. CCI in neutral area on daily chart.

USDCHF Daily Supports and Resistances:

  • S1= 1.0916
  • S2= 1.0861
  • S3= 1.0807
  • R1= 1.1025
  • R2= 1.1079
  • R3= 1.1134

Have a great day!

Click here to read the full article.

August 27th, 2008 @ 5:18 am by Johan Kriek

August 27th, 2008 @ 4:25 am by Setyo Wibowo

Click here to read the full article.

Wed, 27th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The Greenback continued it’s positive momentum yesterday, reached a 6 month high against Euro. The pair bottomed at 1.4572 but closed higher at 1.4643. Early today in Asian market, the pair was corrected higher, traded around 1.4730 at the time I wrote this comment, violate the bearish channel on hourly and 4h chart. My model goes mixed with neutral bias in the nearest term, but still bearish in the longer term. Immediate resistance is seen at 1.4740 followed by 1.4770. Initial support at 1.4614. CCI just cross -100 line up on 4h chart so watch out for a further upside correction.

EURUSD Daily Supports and Resistances:

  • S1= 1.4557
  • S2= 1.4471
  • S3= 1.4370
  • R1= 1.4744
  • R2= 1.4845
  • R3= 1.4931

GBPUSD Outlook
The GBPUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.8329 and closed at 1.8382. However, early today in Asian market the pair was corrected higher, traded around 1.8460 at the time I wrote this comment. My model goes mixed with neutral bias in the nearest term, but still bearish in the longer term. Immediate resistance is seen at 1.8470 followed by 1.8520. Initial support at 1.8355. CCI just cross -100 line up on 4h chart suggesting a potential bullish correction.

GBPUSD Daily Supports and Resistances:

  • S1= 1.8297
  • S2= 1.8212
  • S3= 1.8096
  • R1= 1.8498
  • R2= 1.8614
  • R3= 1.8699

USDJPY Outlook
The USDJPY bullish scenario seems very limited yesterday. The pair topped at 109.93 and closed a little bit lower at 109.66. Early today in Asian market, the pair sharply fell, traded around 109.00 at the time I wrote this comment. My model is mixed with downside bias. Immediate support is seen at 108.50. Initial resistance at 109.93 (yesterday’s high). CCI heading down towards -100 line on 4h chart.

USDJPY Daily Supports and Resistances:

  • S1= 109.22
  • S2= 108.78
  • S3= 108.43
  • R1= 110.01
  • R2= 110.36
  • R3= 110.80

USDCHF Outlook
The USDCHF bullish momentum seemed very limited yesterday. The pair topped at 1.1085 but closed lower at 1.1000. Early today in Asian market the pair is traded lower around 1.0947 at the time I wrote this comment. My model is mixed with downside bias. Immediate support is seen at 1.0920 followed by 1.0860. CCI in neutral area on daily chart.

USDCHF Daily Supports and Resistances:

  • S1= 1.0940
  • S2= 1.0880
  • S3= 1.0808
  • R1= 1.1072
  • R2= 1.1144
  • R3= 1.1204

Have a great day!

Click here to read the full article.

August 26th, 2008 @ 5:31 am by Johan Kriek

Our Global Forex Community

Follow us on Twitter! Join us on Facebook! Watch us on YouTube! Stumble Us!

Advertising

Next Free Forex Webinar

Free Market Commentaries

Advertising

Forex Links

Educational Partners

The Geek Knows
AgriMoney.com
Traders' Magazine

Finance Blogs Blogarama - The Blog Directory Fave this Blog on Technorati