fxopen - Forex Analytics

EURUSD Daily Forecast: May 24

fxopen — Thu, 23 May 2013 19:59:02 GMT

EURUSD Forecast
The EURUSD failed to continue its bearish momentum yesterday topped at 1.2955. The bias is bullish in nearest term testing 1.3000/30 area. Price has been moving up and down without clear direction this week. I still prefer a bearish scenario but a clear break and daily/weekly close above 1.3000/30 will interrupt the bearish scenario and turn my intraday/short term technical bias to a bullish view. Immediate support is seen around 1.2895. A clear break below that area could lead price to neutral zone in nearest term testing 1.2850/00.

GBPUSD Daily Forecast: May 24

fxopen — Thu, 23 May 2013 19:55:20 GMT

GBPUSD Forecast
The GBPUSD was corrected higher yesterday topped at 1.5127. The bias is bullish in nearest term testing 1.5150 – 1.5200. However I still prefer a bearish scenario. Immediate support is seen around 1.5060. A clear break below that area could lead price to neutral zone in nearest term but would keep the bearish bias remains strong testing 1.5000 key support area or lower.

USDJPY Daily Forecast: May 24

fxopen — Thu, 23 May 2013 19:48:48 GMT

USDJPY Forecast
The USDJPY attempted to push lower yesterday bottomed at 100.82 but closed higher at 102.41 in a high volatile market. The bias is bullish in nearest term testing 103.80 key resistance area (monthly EMA 200) which needs to be clearly broken to the upside to continue the bullish scenario. Immediate support is seen around 101.50. A clear break below that area could lead price to neutral zone in nearest term testing 101.00 – 100.82 region or lower. I still prefer a bullish scenario at this phase but any consistent movement below 101.00 will interrupt the bullish scenario and could trigger further bearish pullback.

USDCHF Daily Forecast: May 24

fxopen — Thu, 23 May 2013 19:45:44 GMT

USDCHF Forecast
The USDCHF failed to continue its bullish momentum yesterday bottomed at 0.9632. The bias is neutral in nearest term. Price has been moving sideways this week without clear direction and momentum. I still prefer a bullish scenario at this phase but so far, weekly candle doesn’t seem to give enough support for bullish continuation scenario. Immediate support is seen around 0.9660. A clear break below that area could trigger further bearish pressure testing 0.9600. On the upside, a clear break above 0.9837 could trigger further bullish pressure testing 0.9900 or higher.

EURUSD Daily Forecast: May 23

fxopen — Wed, 22 May 2013 22:07:55 GMT

EURUSD Forecast
The EURUSD attempted to push higher yesterday topped at 1.2997 but whipsawed to the downside and hit 1.2823 earlier today. The bias is bearish in nearest term testing 1.2800 – 1.2740 area. Immediate resistance is seen around 1.2870. A clear break above that area could lead price to neutral zone in nearest term testing 1.2935/50. Overall I still prefer a bearish scenario with sell on rallies strategy.

GBPUSD Daily Forecast: May 23

fxopen — Wed, 22 May 2013 22:04:14 GMT

GBPUSD Forecast
The GBPUSD continued its bearish momentum yesterday and hit 1.5013 earlier today. The bias remains bearish in nearest term testing 1.5000 – 1.4950 area. A clear break and daily close below that area could trigger further bearish pressure testing 1.4830 region. Immediate resistance is seen around 1.5060. A clear break above that area could lead price to neutral zone in nearest term testing 1.5100 but any upside pullback now is normal and should be seen as a good opportunity to sell.

USDJPY Daily Forecast: May 23

fxopen — Wed, 22 May 2013 22:00:14 GMT

USDJPY Forecast
The USDJPY had a bullish momentum yesterday topped at 103.69 but traded lower earlier today hit 102.46. The bias is neutral in nearest term. Overall I remain bullish and any downside pullback now is normal and should be seen as a good opportunity to buy. Immediate support remains around 102.00. On the upside, we have a major/important resistance around 103.80, the monthly EMA 200. That level could be a strong resistance at this phase, but a clear break above that area could trigger further bullish scenario.

USDCHF Daily Forecast: May 23

fxopen — Wed, 22 May 2013 21:55:25 GMT

USDCHF Forecast
The USDCHF had a bullish momentum yesterday topped at 0.9837. The bias is bullish in nearest term testing 0.9900. Immediate support is seen around 0.9750. A clear break below that area could lead price to neutral zone in nearest term testing 0.9700 but any downside pullback now is normal and overall I still prefer a bullish scenario with buy on dips strategy.

EURUSD Daily Forecast: May 22

fxopen — Tue, 21 May 2013 22:12:52 GMT

EURUSD Forecast
The EURUSD attempted to push lower yesterday bottomed at 1.2840 but whipsawed to the upside and hit 1.2937 earlier today. Price has been moving sideways between 1.2935 – 1.2800. I still prefer a bearish scenario at this phase but a clear break and consistent movement above 1.2935 could trigger further bullish pressure testing 1.3000 area. The bias is bullish in nearest term. Immediate support is seen around 1.2890. A clear break below that area could lead price to neutral zone in nearest term testing 1.2850/00 area.

GBPUSD Daily Forecast: May 22

fxopen — Tue, 21 May 2013 22:10:35 GMT

GBPUSD Forecast
The GBPUSD regained its bearish momentum yesterday bottomed at 1.5113. The bias is bearish in nearest term testing 1.5050 – 1.5000. Immediate resistance is seen around 1.5175. A clear break above that area could lead price to neutral zone in nearest term testing 1.5250 but any upside pullback now is normal and should be seen as good opportunity to sell.