Technical Analysis Commentary

EURUSD Forecast
The EURUSD continued its bearish momentum yesterday, bottomed at 1.3446 after made a clear break below 1.3560/70 support area. The bias remains bearish in nearest term targeting 1.3333 this week especially if price able to move consistently below 1.3500. I don’t see significant technical support between 1.3500 - 1.3333 so unless we have fundamental/economic number surprises, the journey to 1.3333 should be relatively smooth. Immediate resistance at 1.3570. Break above that area could trigger further upside pullback testing 1.3650 – 1.3700 resistance area. We have no significant bullish rebound since bearish momentum from 1.4230 on November 05 so any upside pullback is normal but overall we are still in strong bearish ...

EURUSD Forecast
The EURUSD continued its bearish bias yesterday but still unable to make a clear break below Friday’s low around 1.3560/70 area. The bias remains bearish in nearest and medium term targeting 1.3500 – 1.3333 this week especially if price able to make a clear break below 1.3560/70 support area. Immediate resistance at 1.3650. Break above that area could lead us to neutral zone in nearest term testing 1.3700 but overall we are still in bearish phase. CCI still maintain position in negative territory on h4 chart suggests that the current bearish momentum is strong enough.




GBPUSD Forecast
The GBPUSD had a bearish momentum yesterday, ...

EURUSD Forecast
The EURUSD had a bearish momentum last week, bottomed at 1.3573 but still unable to consistently move below 1.3700 so far as market remains highly volatile. I think overall we are still in bearish bias but need a consistent move below 1.3700 to continue the downside pressure testing 1.3500 – 1.3333 this week. Immediate resistance at 1.3750. Consistent move above that area could trigger further bullish pullback testing 1.3850 – 1.3900.




GBPUSD Forecast
The GBPUSD was volatile but indecisive on Friday. The bias is neutral in nearest term. As long as price moves inside the major bullish channel overall we are still in a major bullish ...

EURUSD Weekly Summary: Bearish momentum after consolidation, a potential further bearish scenario
The EURUSD had a bearish momentum this week, bottomed at 1.3573 and closed at 1.3689. A bearish momentum after four weeks of indecisive/consolidation movement could give us further bearish set up in upcoming week. On daily chart below we can see price break below the minor trend line support (blue) indicates potential bearish view in short/medium term outlook testing 1.3500 – 1.3333 and the major trend line support area (red). The market still volatile enough and any movement and/or daily close above 1.3700 could trigger further upside pullback testing 1.3850 – 1.3900 resistance area but I think overall we are in a bearish phase. OK, ...