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EURUSD Forecast
The EURUSD was indecisive last week, moved in range area of 1.3200 – 1.3060 and price still in critical technical phase, struggling around the trend line support. The major outlook remains bearish, but still need a clear break below the trend line support and 1.3060 support area to continue the bearish scenario targeting 1.2968 – 1.2920. CCI in neutral area and above zero line on h4 chart suggests limited downside pressure so far. On the upside, clear break above 1.3200 could trigger further upside pullback testing 1.3250 – 1.3300 resistance area which could open the door for further upside consolidation during the remaining days of 2010.



GBPUSD ...

EURUSD Forecast
The EURUSD continued its indecisive movement yesterday, made another Doji on daily chart. Overall bias remains bearish as generally price is making lower highs and lows on h4 chart but limited bearish pressure and ranging market could continue as we are entering holiday season. I still prefer a bearish major scenario but again, would need a clear break below the trend line support and 1.3060 key support area before testing 1.2968 – 1.2920. Expected range remains between 1.3200 – 1.3070/60 and need a clear break from either side to see clearer direction. Aggressive traders may long around 1.3070/60 or short around 1.3170 – 1.3200 with tight stop loss. Standing aside until we have a clear break or waiting until next ...

EURUSD Forecast
The EURUSD made another volatile but indecisive movement yesterday. Overall bias remains to the downside, but the trend line support still hold so far, preventing further downside pressure as you can see on my h4 chart below and we still need a consistent move below the trend line support and 1.3060 to continue the bearish scenario testing 1.2968 and 1.2920. A look at the weekly chart can easily reveal that market is actually indecisive now, make a small Doji and moving in a range area between 1.3200 – 1.3073. A clear break above 1.3200 could trigger further upside consolidation testing 1.3250 – 1.3300 area but overall outlook remains strongly bearish.

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EURUSD Forecast
The EURUSD attempted to push higher yesterday, topped at 1.3201 but whipsawed to the downside, bottomed at 1.3073, closed at 1.3090 and corrected a little bit higher hit 1.3142 earlier today in Asian session. Overall we are still in downside bias, but as you can see on my h4 chart below, the trend line support still hold so far. We need a clear break below the trend line support and 1.3060 support area to continue the bearish scenario targeting 1.2968 – 1.2920 this week. Immediate resistance at 1.3170 followed by 1.3250.



GBPUSD Forecast
The GBPUSD continued its bearish pressure yesterday, slipped below the triangle as you can see on my ...