USDJPY Daily Forecast
The USDJPY bullish correction was stopped yesterday. The pair failed to move above 94.60 key resistance level, bottomed at 93.24 and closed at 93.75. My view remains the same, that as long as stay below 94.60 I prefer a downside scenario. The bias is bearish in nearest term but we seem to have good support around 93.25 area. Break below that area should trigger further bearish momentum towards 92.50 area
Friday, July 17, 2009
EURUSD Daily Forecast
EURUSD Daily Forecast
The EURUSD continued it’s upside momentum yesterday. On h4 chart below we have trendline resistance breakout suggesting bullish view but still unable to break above 1.4176 key resistance level. Today is the last trading day for this week and I hope we will see more significant movement. Break above 1.4176 should trigger further bullish momentum testing 1.4336 area. Initial support remains at 1.4050. CCI about to cross the 100 line down on h4 chart suggesting potential downside pullback.
The EURUSD continued it’s upside momentum yesterday. On h4 chart below we have trendline resistance breakout suggesting bullish view but still unable to break above 1.4176 key resistance level. Today is the last trading day for this week and I hope we will see more significant movement. Break above 1.4176 should trigger further bullish momentum testing 1.4336 area. Initial support remains at 1.4050. CCI about to cross the 100 line down on h4 chart suggesting potential downside pullback.
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