Forex Bio

Technical Analysis for GBPUSD 12 Feb 2010

GBPUSD Forecast: The GBPUSD failed to continue its bearish momentum yesterday. Once again, 1.5560/30 area proved it self as a strong support at this phase. It has been tested in five days in a row and still hold so far. The bias is neutral in nearest term but the bearish scenario should remains intact. On h4 chart below we can see price is ready to test the upper line of the bearish channel.  A violation to the bearish channel should trigger further bullish correction testing 1.5800 area. On...

Technical Analysis for GBPUSD 13 January 2010

GBPUSD Forecast: The GBPUSD had a bullish momentum yesterday. On daily chart below we can see that price has convincingly move above the bearish channel indicating potential bullish targeting 1.6250 area. Immediate support at 1.6113 area. Break below that area should lead us into no trading zone but only a movement below 1.6040 area could be seen as bullish failure and trigger further bearish scenario back towards 1.5900 – 1.5832...

Technical Analysis GBPUSD 11 January 2010

GBPUSD Forecast: The GBPUSD is at critical technical phase right now. As you can see in my daily chart below, price is now testing the bearish channel. As long as the bearish channel valid, the bearish scenario should remains intact especially if we have another movement back below 1.6040/00 area again today testing 1.5832 – 1.5900 area. However, a violation to the bearish channel should be seen as bearish failure and could start a new bullish scenario testing 1.6700 area. Immediate...

USDJPY Daily Forecast: October 28

USDJPY Forecast: The USDJPY had a bearish momentum yesterday, bottomed at 91.69 and closed at 91.75. My concern about 92.50 area as strong resistance that keep me stop buying this pair proved to be right. The bias is bearish in nearest term but don’t forget that we have a good support around 91.40 area. Valid break below that area should trigger further bearish momentum targeting 90.70 area. Immediate resistance at 92.50 area. CCI in overbought area and about to cross the 100 line down on...

USDCHF Daily Forecast: October 28

USDCHF Forecast The USDCHF didn’t make significant movement yesterday. Price attempted to push lower, bottomed at 1.0147 but whipsawed to the upside, hit the top at 1.0249 and closed lower at 1.0215. For me, the fact that price able to stay above 1.0166 area should keep the bullish scenario intact. False breakdown below 1.0166 could help the pair push higher today, testing 1.0280 even 1.0360 area. Immediate support at 1.0166 – 1.0147 area. Break below that area should trigger further...

GBPUSD Daily Forecast: October 27

GBPUSD Forecast: The GBPUSD made indecisive movement yesterday, made a Doji on daily chart. My technical strategy yesterday, about to place a short position around the upper line of the bearish channel worked fine, as you can see on daily chart below, that area is a good resistance area and that area remains a good place to keep short with tight stop loss above it. I still prefer a bearish scenario at this phase, with medium term technical target at 1.5800 area. Immediate resistance at...