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Daily Forecast for Crosses: December 04

Daily Forecast for Crosses: December 04
Tuesday, December 4th, 2012 @ 4:32 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 was indecisive yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 108.00. Immediate support is seen around 106.95/84. A clear break below that area could lead price to neutral zone in nearest term testing 106.50/00 area but overall I still prefer a bullish scenario after the bearish failure.

GBPJPY Forecast
The GBPJPY was indecisive yesterday. There are no changes in my technical outlook. The bias remains bullish in nearest term testing 133.00/50 key resistance area. Immediate support remains around 131.20. A clear break below that area could lead price to neutral zone in nearest term testing 130.70/50 but as long as stays above the trend line support (white) my overall technical bias remains bullish. On the upside, 133.00/50 could be a strong resistance at this phase. Although the major technical bias remains bullish, a counter trend trade, selling around that area is not a bad idea with a tight stop loss.

AUDUSD Forecast
The AUDUSD was indecisive yesterday. There were some upside pressures earlier today hit 1.0457 which turned my nearest term technical bias to a bullish view testing 1.0500/20 as a part of the bullish phase since the false breakdown. Immediate support is seen around 1.0408 (current low). A clear break below that area could lead price to neutral zone in nearest term as direction would become unclear testing 1.0375/50 area. My medium/long term outlook remains unclear with potential wide range between 1.0170 – 1.0610.

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