Technical Analysis Commentary

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday, topped at 1.2953 and closed at 1.2946. The bias remains bullish in nearest term targeting 1.3000 and 1.3125 region. Immediate support at 1.2850. Break below that area could lead us into neutral zone in nearest term but the we are still in a strong bullish phase now and only a movement below the minor bullish channel (red channel) and 1.2750 area could diminish the current strong bullish momentum testing 1.2650 area.




GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday, topped at 1.5470 and closed at 1.5459. On daily chart below we can see price break above the ...

EURUSD Forecast
The EURUSD didn’t make significant movement yesterday. The bias is neutral in nearest term but we are still in upside correction scenario testing 1.2850 – 1.2900 area. Immediate support at 1.2650. Break below that area could trigger further bearish pressure testing the minor trendline support (red) and 1.2550 area but as long as price move inside the bullish channel we are still in upside correction phase.




GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday, topped at 1.5295 and closed at 1.5264. The bias remains bullish in nearest term testing 1.5400 region. However CCI about to cross the 100 line down on h4 ...

EURUSD Forecast
The EURUSD had a significant bullish momentum yesterday after bad US trade balance number, topped at 1.2737 and closed at 1.2722. The rising wedge formation has failed indicating potential technical bullishness targeting 1.2850 – 1.2900 area. Immediate support at 1.2650 (former resistance). Break below that area would lead us into neutral zone. Although technical study is bullish, I think this bullish run is tricky and fragile from fundamental point of view since yesterday we had bad Euro zone ZEW economic sentiment number, keep the Euro zone in negative territory.




GBPUSD Forecast
The GBPUSD had a significant bullish momentum ...

EURUSD Forecast
The EURUSD continued its bearish pressure yesterday, bottomed at 1.2550 but closed higher at 1.2596. The bias is neutral in nearest term but the potential downside scenario by the rising wedge formation remains intact especially if price able to move consistently below 1.2550 today targeting 1.2465/80 support area. On the upside, consistent move above 1.2650 resistance area could be a serious threat to the bearish scenario testing 1.2720/50 region.




GBPUSD Forecast
The GBPUSD attempted to push lower yesterday, bottomed at 1.4948 but closed significantly higher above 1.5000 area. The bias is neutral in nearest term but overall the ...