FxInstructor
09-28-2008, 09:55 PM
EURUSD Outlook
After 2 days of indecisive movement last week, the EURUSD was traded lower early today in Asian session, around 1.4505 at the time I wrote this comment. This fact force my model to mixed with downside bias. The key level at this phase is 1.4430. A break to the downside from that level could trigger further bearish scenario towards 1.4355 then 1.4250. Immediate resistance is seen at 1.4571. Be patient.
http://i35.tinypic.com/ddcnip.jpg
EURUSD Daily Supports and Resistances:
S1= 1.4552
S2= 1.4491
S3= 1.4429
R1= 1.4675
R2= 1.4737
R3= 1.4798
GBPUSD Outlook
The GBPUSD made a soft recovery on Friday, but traded lower again early today in Asian session at around 1.8275 at the time I wrote this comment. The bullish channel on 4h chart is violated to the downside. My model is short targeting 1.8230 then 1.8135. CCI just cross 100 line down on daily chart suggesting a potential bearish view. Immediate resistance is seen at 1.8350.
http://i36.tinypic.com/eltfk.jpg
GBPUSD Daily Supports and Resistances:
S1= 1.8362
S2= 1.8280
S3= 1.8228
R1= 1.8496
R2= 1.8548
R3= 1.8630
USDJPY Outlook
The USDJPY attempted to push lower on Friday, bottomed at 105.02 but further bearish scenario was rejected as the pair closed higher at 106.00. Early today in Asian session the pair was traded higher at around 106.70 at the time I wrote this comment. My model is mixed with upside bias. Immediate support is seen at 106.30 followed by 106.00. Initial resistance at 107.01 followed by 107.50. CCI already in overbought area both on hourly and 4h chart.
USDJPY Daily Supports and Resistances:
S1= 105.17
S2= 104.34
S3= 103.67
R1= 106.67
R2= 107.34
R3= 108.17
USDCHF Outlook
The USDCHF made a break out to the upside of ranging area (1.0943 and 1.0800) early today in Asian session. My model is mixed with upside bias. Immediate resistance is seen at 1.1040. CCI already in overbought area on both hourly and 4h chart suggesting a potential bearish pressure testing 1.0943 and 1.0900 support areas.
USDCHF Daily Supports and Resistances:
S1= 1.0848
S2= 1.0793
S3= 1.0760
R1= 1.0936
R2= 1.0969
R3= 1.1024
Have a great day!
After 2 days of indecisive movement last week, the EURUSD was traded lower early today in Asian session, around 1.4505 at the time I wrote this comment. This fact force my model to mixed with downside bias. The key level at this phase is 1.4430. A break to the downside from that level could trigger further bearish scenario towards 1.4355 then 1.4250. Immediate resistance is seen at 1.4571. Be patient.
http://i35.tinypic.com/ddcnip.jpg
EURUSD Daily Supports and Resistances:
S1= 1.4552
S2= 1.4491
S3= 1.4429
R1= 1.4675
R2= 1.4737
R3= 1.4798
GBPUSD Outlook
The GBPUSD made a soft recovery on Friday, but traded lower again early today in Asian session at around 1.8275 at the time I wrote this comment. The bullish channel on 4h chart is violated to the downside. My model is short targeting 1.8230 then 1.8135. CCI just cross 100 line down on daily chart suggesting a potential bearish view. Immediate resistance is seen at 1.8350.
http://i36.tinypic.com/eltfk.jpg
GBPUSD Daily Supports and Resistances:
S1= 1.8362
S2= 1.8280
S3= 1.8228
R1= 1.8496
R2= 1.8548
R3= 1.8630
USDJPY Outlook
The USDJPY attempted to push lower on Friday, bottomed at 105.02 but further bearish scenario was rejected as the pair closed higher at 106.00. Early today in Asian session the pair was traded higher at around 106.70 at the time I wrote this comment. My model is mixed with upside bias. Immediate support is seen at 106.30 followed by 106.00. Initial resistance at 107.01 followed by 107.50. CCI already in overbought area both on hourly and 4h chart.
USDJPY Daily Supports and Resistances:
S1= 105.17
S2= 104.34
S3= 103.67
R1= 106.67
R2= 107.34
R3= 108.17
USDCHF Outlook
The USDCHF made a break out to the upside of ranging area (1.0943 and 1.0800) early today in Asian session. My model is mixed with upside bias. Immediate resistance is seen at 1.1040. CCI already in overbought area on both hourly and 4h chart suggesting a potential bearish pressure testing 1.0943 and 1.0900 support areas.
USDCHF Daily Supports and Resistances:
S1= 1.0848
S2= 1.0793
S3= 1.0760
R1= 1.0936
R2= 1.0969
R3= 1.1024
Have a great day!