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EURUSD Forecast
The EURUSD was indecisive yesterday and now struggling around 1.3800 key level. After two days of strong bullish momentum on Monday and Tuesday, any correction/consolidation movement is normal and overall the technical bias still more to the upside especially if price able to make another clear breakout above 1.3860 still targeting 1.4000 resistance area this week before testing 1.4200 – 1.4300. On the downside, a clear break below 1.3700 could be a threat to the bullish outlook as a false breakout scenario could be produced, not only could lead us back to range condition but also open the door for further bearish pullback testing 1.3500 key support area. I will stand aside for now but still prefer a bullish scenario ...

EURUSD Forecast
The EURUSD made a significant break above 1.3800 key resistance level yesterday and hit 1.3860 earlier today in Asian session. This fact gives us further validation to the bullish continuation scenario targeting 1.4000 even 1.4200 – 1.4300 area. On the downside, another consistent move back below 1.3800 could lead us to neutral zone in nearest term testing 1.3750/00 support area but overall I think the major scenario remains strongly bullish.



GBPUSD Forecast
The GBPUSD continued its bullish momentum yesterday after consistently move above 1.6057 and hit 1.6174 earlier today in Asian session. This fact gives ...

EURUSD Forecast
The EURUSD continued its bullish momentum yesterday and now traded above 1.3700. This fact keeps the bullish technical view remains strong targeting 1.3800 in nearest term before testing 1.4000 area. Immediate support at 1.3670 followed by 1.3625 but as long as price stays above 1.3500 the major outlook remains bullish. Note that the Egypt political riot is like a time bomb. Many countries were reported to evacuate their citizens out of Egypt as they fear that growing numbers and intensity of protesters can be very dangerous and may create more instability and chaos that could trigger another risk aversion sentiment and weaken the Euro.

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EURUSD Forecast
The EURUSD was corrected lower significantly on Friday on concern that political crisis in Egypt may trigger higher demand for safer assets as investors are worry about potential contagion of political instability all over the Middle East. My own country, Indonesia, had similar political chaos back in 1997 – 1998 so judging by the amount and intensity of protesters who want Hosni Mubarak regime to step down, it’s not an easy job for the government to stabilize the political situation in Egypt and things can be worse any time. This fundamental/political situation makes me think twice before jump into the market and buying the Euro on a major bullish technical outlook. Not to mention that hourly chart suggests a potential ...