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Daily Forecast for Crosses: April 26

Daily Forecast for Crosses: April 26
Tuesday, April 26th, 2011 @ 6:28 am by Setyo Wibowo

About Setyo Wibowo:

Setyo Wibowo Living in East Java, Indonesia and holding International Relations degree, Setyo Wibowo began his forex trading career by joining Fortune Channel Investment in 2000 as a market analyst, while learning to trade forex independently on his own. Driven by his desire to share his trading experiences and ideas, Setyo joined the FX Instructor team in 2008. Setyo Wibowo is now living in Mojokerto, East Java, Indonesia.

About Me My Articles

EURJPY Forecast
The EURJPY continued its bearish momentum yesterday after found a good resistance at the minor trend line resistance. The bias is bearish in nearest term especially if price able to make a clear break below 118.40 targeting 118.00 even testing 116.00 area. Immediate resistance at 119.30. A clear break above that area would lead us to neutral zone in nearest term in nearest term as direction would become unclear.

GBPJPY  Forecast
The GBPJPY made a break below the range area as you can see on my hourly chart below. This fact could continue the bearish pressure testing 133.75 even testing 132.97. Immediate resistance at 134.69. A clear break above that area could lead us to neutral zone in nearest term but as long as price stays below 135.00 I still prefer a bearish scenario at this phase.

AUDUSD Forecast
The AUDUSD was corrected lower yesterday and slipped below 1.0684 earlier today in Asian session. The bias is bearish in nearest term testing 1.0630 – 1.0581 but note that the major scenario remains strongly bullish. Immediate resistance at 1.0710. A clear break above that area would lead us to neutral zone in nearest term and we need a clear break above 1.0774 to end the bearish correction phase and continue the bullish scenario aiming for 1.0850 – 1.0900.

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