Tue, 19th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
Yesterday the EURUSD made indecisive movement by opened and closed at almost the same price (1.4682 and 1.4677). The pair had a minor upside correction, topped at 1.4767 but failed to maintain bullish correction and dropped lower again. My model is mixed with neutral bias. Immediate resistance is seen at 1.4720 followed by 1.4767 (yesterday’s high). A consistent move above 1.4767 level could open the door for a further upside correctional move towards 1.4820 then 1.4975. Initial support at 1.4658 followed by 1.4614. CCI in neutral area on 4h chart.

EURUSD Daily Supports and Resistances:

• S1= 1.4643
• S2= 1.4610
• S3= 1.4548
• R1= 1.4738
• R2= 1.4800
• R3= 1.4833

GBPUSD Outlook
The GBPUSD didn’t make a significant move yesterday. The pair attempted to make a higher correction, topped at 1.8722 but closed lower at 1.8618. My model remains mixed with neutral bias. Immediate resistance is seen at 1.8673 followed by 1.8722 (yesterday’s high). Initial support at 1.8611 followed by 1.8562. CCI in neutral area on 4h chart.

GBPUSD Daily Supports and Resistances:

• S1= 1.8583
• S2= 1.8548
• S3= 1.8479
• R1= 1.8687
• R2= 1.8756
• R3= 1.8791

USDJPY Outlook
The USDJPY made a little movement of 51 pips yesterday. The pair topped at 110.47 and bottomed at 109.96. My model is mixed with neutral bias. Immediate support is seen at 109.60 followed by 109.30. Initial resistance at 110.50. CCI just cross 100 line down on daily chart, suggesting a potential bearish correction.

USDJPY Daily Supports and Resistances:

• S1= 109.93
• S2= 109.69
• S3= 109.42
• R1= 110.44
• R2= 110.71
• R3= 110.95

USDCHF Outlook
The USDCHF also didn’t make a significant movement yesterday. On hourly chart, we can see that the pair is traded in ranging market of 1.1007 and 1.0911. My model is mixed with neutral bias. A break out the downside could trigger further bearish correction towards 1.0822 area, while an upside break open the door towards 1.1120. CCI in neutral area on 4h chart.

USDCHF Daily Supports and Resistances:

• S1= 1.0928
• S2= 1.0873
• S3= 1.0836
• R1= 1.1020
• R2= 1.1057
• R3= 1.1112

Have a great day!

Hi there fellow traders!

Herewith is my daily video recap for August 18, 2008, in which I discuss what happened on the market today, in our Live Forex Trading Room.

Today’s Probability Studies can be found on our blog right here:
http://blog.fxinstructor.com/18-august-probability-studies/

To learn more about the Live Trading Room, please click here.

Mon, 18th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
The EURUSD continued it’s bearish momentum on Friday. The pair bottomed at 1.4658 and closed at 1.4688. Early today in Asian market, the pair made a minor upside correction and traded around 1.4730 at the time I wrote this comment. My model is mixed with neutral bias. Immediate resistance is seen at 1.4757 followed by 1.4820. An upside break from 1.4820 could trigger further correction towards 1.4975. Initial support at 1.4658 followed by 1.4614. CCI just cross -100 line up on 4h chart suggesting a potential bullish correction.

EURUSD Daily Supports and Resistances:

• S1= 1.4629
• S2= 1.4570
• S3= 1.4483
• R1= 1.4775
• R2= 1.4862
• R3= 1.4921

GBPUSD Outlook
The bearish momentum of the GBPUSD seemed to losing it’s power on Friday as the pair made an upside correction, closed at 1.8661 after attempted to push lower by bottomed at 1.8511. My model goes mixed with neutral bias. Immediate resistance is seen at 1.8750 followed by 1.8790. Initial support is seen at 1.8630.

GBPUSD Daily Supports and Resistances:

• S1= 1.8553
• S2= 1.8445
• S3= 1.8380
• R1= 1.8726
• R2= 1.8791
• R3= 1.8899

USDJPY Outlook
The USDJPY continued it’s bullish momentum on Friday. The pair topped at 107.66 (11 pips lower from my long target at 107.77) and closed at 110.50. However, the pair corrected early today in Asian market, traded at 110.20 at the time I wrote this comment. My model is mixed with neutral bias. Immediate support is seen at 109.58. Initial resistance at 107.77.

USDJPY Daily Supports and Resistances:

• S1= 109.86
• S2= 109.22
• S3= 108.82
• R1= 110.90
• R2= 111.30
• R3= 111.94

USDCHF Outlook
The bullish momentum of USDCHF was limited on Friday. The pair closed at 1.0959 after attempted to push higher by topped at 1.1007. My model is mixed with neutral bias. Immediate support is seen at 1.0906 followed by 1.0858. Initial resistance at 1.1007 (Friday’s high) followed by 1.1050.

USDCHF Daily Supports and Resistances:

• S1= 1.0930
• S2= 1.0901
• S3= 1.0863
• R1= 1.0997
• R2= 1.1035
• R3= 1.1064

Have a great day!

Hi there fellow traders!

Herewith is my daily video recap for August 14, 2008, in which I discuss what happened on the market today, in our Live Forex Trading Room.

Today’s Probability Studies can be found on our blog right here:
http://blog.fxinstructor.com/15-august-probability-studies/

To learn more about the Live Trading Room, please click here.

Fri, 15th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
Yesterday The EURUSD continued it’s bearish momentum. The pair bottomed at 1.4777 and closed at 1.4801. I am expecting this bearish scenario continue today. We have a new bearish channel on hourly chart. My model goes short targeting 1.4614. Immediate resistance is seen at 1.4825 followed by 1.4870. CCI just cross -100 line up on hourly chart so we might have a minor upside correction.

EURUSD Daily Supports and Resistances:

• S1= 1.4735
• S2= 1.4670
• S3= 1.4563
• R1= 1.4907
• R2= 1.5014
• R3= 1.5079

GBPUSD Outlook
Yesterday the GBPUSD made indecisive movement by open and closed at almost the same price (1.8692 and 1.8684). We still have a valid bearish channel on hourly chart, so the bias is still on bearish side. Immediate resistance is seen at 1.8707 followed by 1.8741. Initial support at 1.8630 followed by 1.8570. CCI about to cross -100 line up on hourly chart so we might have a minor upside correction.

GBPUSD Daily Supports and Resistances:

• S1= 1.8606
• S2= 1.8529
• S3= 1.8439
• R1= 1.8773
• R2= 1.8863
• R3= 1.8940

USDJPY Outlook
Yesterday the USDJPY back in it’s bullish momentum after corrected lower on Tuesday. The pair topped at 109.98 and closed at 109.77. My model goes long targeting 110.77. Immediate support is seen at 109.60. CCI in overbought area on daily chart so we might have a minor downside correction. Use only tight money management at this phase. Wait a confirmation on your indicators/oscillators to find long position.

USDJPY Daily Supports and Resistances:

• S1= 109.20
• S2= 108.63
• S3= 108.24
• R1= 110.16
• R2= 110.55
• R3= 111.12

USDCHF Outlook
After 2 days of no significant movement, yesterday the USDCHF back in it’s bullish scenario. The pair break out to the upside of ranging market (1.0924/1.0825), topped at 1.0980 and closed at 1.0943. My model goes long, targeting 1.1050. Immediate support is seen at 1.0924. CCI just cross 100 line down on hourly chart so we might have a minor downside correction.

USDCHF Daily Supports and Resistances:

• S1= 1.0858
• S2= 1.0773
• S3= 1.0712
• R1= 1.1004
• R2= 1.1065
• R3= 1.1150

Have a great weekend!

Hi there fellow traders!

Herewith is my daily video recap for August 14, 2008, in which I discuss what happened on the market today, in our Live Forex Trading Room.

Today’s Probability Studies can be found on our blog right here:
http://blog.fxinstructor.com/14-august-probability-studies/

To learn more about the Live Trading Room, please click here.

To view a more in-depth analysis on the other pairs such as the AUD and CAD crosses, please visit our Live Trading Room at http://www.fxinstructor.com/eng/ltr to see and hear our FXInstructors analyse the markets and identify trades

Thu, 14th of August, 2008
By Setyo Wibowo (analyst@fxinstructor.com)

EURUSD Outlook
Yesterday The EURUSD made indecisive movement by open and closed at almost the same price (1.4914 and 1.4921). The pair failed stay above key level 1.4975. My strategy remains the same, that as long as the pair stay below that key level, the bias is still on the bearish side. Immediate resistance is seen at 1.4930 followed by 1.4975. Further upside break would open the door to 1.5083. Initial support at 1.4850 followed by 1.4815. CCI in neutral area on both hourly and 4h chart.

EURUSD Daily Supports and Resistances:

• S1= 1.4848
• S2= 1.4775
• S3= 1.4709
• R1= 1.4987
• R2= 1.5053
• R3= 1.5126

GBPUSD Outlook
Yesterday the GBPUSD continued it’s bearish momentum. The pair bottomed at 1.8644 and closed at 1.8693. I am expecting this bearish momentum to be continue today. My model goes short, targeting 1.8590 and then 1.8520. Immediate resistance is seen at 1.8750. CCI in oversold area on 4h chart, so we might see a minor upside pullback today.

GBPUSD Daily Supports and Resistances:

• S1= 1.8546
• S2= 1.8400
• S3= 1.8156
• R1= 1.8936
• R2= 1.9180
• R3= 1.9326

USDJPY Outlook
Yesterday the USDJPY failed to make further downside correction move. The pair bottomed at 108.36 before whipsawed to the upside and made a new high of the day at 109.73 and closed at 109.49. My model is mixed with upside bias. A consistent movement above 109.50 area could trigger further bullish scenario back towards 110.34. Immediate support is seen at 108.90 followed by 108.50. Initial resistance at 109.73 (yesterday’s high). CCI in neutral area on both hourly and 4h chart.

USDJPY Daily Supports and Resistances:

• S1= 108.65
• S2= 107.82
• S3= 107.28
• R1= 110.02
• R2= 110.56
• R3= 111.39

USDCHF Outlook
The USDCHF made no significant movement yesterday. On the hourly chart, we can see that the pair move in a ranging market between 1.0924 and 1.0825. A break out to the upside would trigger further upside scenario towards 1.0990 while a break out to the downside open the door for further correction towards 1.0740. CCI in neutral area both on hourly and 4h chart.

USDCHF Daily Supports and Resistances:

• S1= 1.0809
• S2= 1.0768
• S3= 1.0712
• R1= 1.0906
• R2= 1.0962
• R3= 1.1003

Have a great day!