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Daily Forecast for Crosses: July 23

Daily Forecast for Crosses: July 23
Monday, July 23rd, 2012 @ 7:52 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 last week and hit 94.22 earlier today. The bias remains bearish in nearest term testing 94.00 – 93.50 support area. Immediate resistance is seen around 95.60. A clear break above that area could lead price to neutral zone in nearest term as direction would become unclear but overall I still prefer a bearish scenario at this phase.

GBPJPY Forecast
The GBPJPY continued its bearish momentum last week, closed below 123.00 and hit 121.26 earlier today. The bias is bearish in nearest term testing 120.40. I am still in a bearish mode and the current strong bearish outlook can only be interrupted by a clear break back above 123.00.

AUDUSD Forecast
The AUDUSD was corrected lower on Friday and slipped below 1.0300 earlier today on broad US Dollar strength. The bias is bearish in nearest term testing 1.0200 but as long as stays inside the bullish channel (see my daily chart below) I remain bullish and still prefer to buy on dips.

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