FxInstructor
09-21-2008, 08:41 PM
EURUSD Outlook
After made a false break out from 4h bullish channel, the EURUSD continued it's bullish movement on Friday. The pair topped at 1.4498 and closed at 1.4462. This fact open the door for a further bullish scenario targeting 1.4650 area. CCI in overbought area on 4h chart so watch out for a downside risks testing 1.4420 support area.
http://i38.tinypic.com/2i0upea.jpg
EURUSD Daily Supports and Resistances:
S1= 1.4242
S2= 1.4023
S3= 1.3895
R1= 1.4589
R2= 1.4717
R3= 1.4936
GBPUSD Outlook
The GBPUSD continued it's bullish momentum on Friday. The pair topped at 1.8387 but closed lower at 1.8314. I am expecting further bullish scenario targeting 1.8450 resistance level. CCI about to cross 100 line down on 4h chart so watch out for downside risks testing 1.8225 support area.
http://i34.tinypic.com/2rcol0n.jpg
GBPUSD Daily Supports and Resistances:
S1= 1.8023
S2= 1.7733
S3= 1.7551
R1= 1.8495
R2= 1.8677
R3= 1.8967
USDJPY Outlook
The USDJPY continued it's bullish momentum on Friday. The pair topped at 108.02 and closed at 107.46. However early today in Asian market the pair was traded lower around 106.50 level at the time I wrote this comment. My model is mixed with neutral bias. Immediate support is seen at 105.90. Initial resistance at 108.02 (Friday's high).
USDJPY Daily Supports and Resistances:
S1= 105.89
S2= 104.32
S3= 103.26
R1= 108.52
R2= 109.58
R3= 111.15
USDCHF Outlook
The USDCHF made no significant movement on Friday. The pair attempted to pushed higher, topped at 1.1279 before whipsawed to the downside, bottomed at 1.1006 and closed at 1.1053. This fact open the door for further bearish correction scenario towards 1.0880 support area. CCI just cross -100 line up on hourly chart suggesting a potential upside risks testing 1.1085 resistance level.
USDCHF Daily Supports and Resistances:
S1= 1.0946
S2= 1.0839
S3= 1.0673
R1= 1.1219
R2= 1.1385
R3= 1.1492
Have a great day!
After made a false break out from 4h bullish channel, the EURUSD continued it's bullish movement on Friday. The pair topped at 1.4498 and closed at 1.4462. This fact open the door for a further bullish scenario targeting 1.4650 area. CCI in overbought area on 4h chart so watch out for a downside risks testing 1.4420 support area.
http://i38.tinypic.com/2i0upea.jpg
EURUSD Daily Supports and Resistances:
S1= 1.4242
S2= 1.4023
S3= 1.3895
R1= 1.4589
R2= 1.4717
R3= 1.4936
GBPUSD Outlook
The GBPUSD continued it's bullish momentum on Friday. The pair topped at 1.8387 but closed lower at 1.8314. I am expecting further bullish scenario targeting 1.8450 resistance level. CCI about to cross 100 line down on 4h chart so watch out for downside risks testing 1.8225 support area.
http://i34.tinypic.com/2rcol0n.jpg
GBPUSD Daily Supports and Resistances:
S1= 1.8023
S2= 1.7733
S3= 1.7551
R1= 1.8495
R2= 1.8677
R3= 1.8967
USDJPY Outlook
The USDJPY continued it's bullish momentum on Friday. The pair topped at 108.02 and closed at 107.46. However early today in Asian market the pair was traded lower around 106.50 level at the time I wrote this comment. My model is mixed with neutral bias. Immediate support is seen at 105.90. Initial resistance at 108.02 (Friday's high).
USDJPY Daily Supports and Resistances:
S1= 105.89
S2= 104.32
S3= 103.26
R1= 108.52
R2= 109.58
R3= 111.15
USDCHF Outlook
The USDCHF made no significant movement on Friday. The pair attempted to pushed higher, topped at 1.1279 before whipsawed to the downside, bottomed at 1.1006 and closed at 1.1053. This fact open the door for further bearish correction scenario towards 1.0880 support area. CCI just cross -100 line up on hourly chart suggesting a potential upside risks testing 1.1085 resistance level.
USDCHF Daily Supports and Resistances:
S1= 1.0946
S2= 1.0839
S3= 1.0673
R1= 1.1219
R2= 1.1385
R3= 1.1492
Have a great day!