Mon, 30th of June, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD still continued it’s bullish momentum on Friday, but with less power. The pair topped and closed at 1.5791 and bottomed at 1.5719. I am expecting a consolidation movement to the downside as we see many resistance at 1.5800 area and the price is already in overbought area on daily chart. My model is mixed with no trading zone. Immediate support seen at 1.5730. Initial resistance at 1.5850.

EURUSD Daily Supports and Resistances:

• S1= 1.5743
• S2= 1.5695
• S3= 1.5671
• R1= 1.5815
• R2= 1.5839
• R3= 1.5887

GBPUSD Outlook
The GBPUSD hit my long target at 1.9950 on Friday, topped at 1.9952. My model remains long, targeting 2.0030. CCI already in overbought area on daily chart, so watch out for a minor downside pullback. Immediate support is seen at 1.9890. Only use tight money management at this phase. Wait for confirmation on your indicator/oscillator to find long position.

GBPUSD Daily Supports and Resistances:

• S1= 1.9850
• S2= 1.9752
• S3= 1.9701
• R1= 1.9999
• R2= 2.0050
• R3= 2.0148

USDJPY Outlook
The USDJPY hit my short target at 106.30, even further, bottomed at 105.86. My model remains short, targeting 105.10. Immediate resistance is seen at 106.60. CCI in neutral area on daily chart. We know that USDJPY is still in bullish outlook on bigger time frame, so only use tight money management at this phase.

USDJPY Daily Supports and Resistances:

• S1= 105.58
• S2= 105.05
• S3= 104.24
• R1= 106.92
• R2= 107.73
• R3= 108.26

USDCHF Outlook
The USDCHF continued it’s bearish momentum on Friday. The pair bottomed at 1.0164, 13 pips higher from my short target at 1.0151. CCI already in extreme oversold area. My model is mixed with downside bias. Immediate support is seen at 1.0151. Initial resistance seen at 1.0265. Expect for an upside correctional movement today.

USDCHF Daily Supports and Resistances:

• S1= 1.0142
• S2= 1.0101
• S3= 1.0039
• R1= 1.0245
• R2= 1.0307
• R3= 1.0348

Have a great day!