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USDCHF Daily Forecast: June 10 |
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Written by Administrator
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Thursday, 10 June 2010 |
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USDCHF Forecast
The USDCHF slipped below 1.1445 yesterday, but closed higher at 1.1483.
The fact that so far price unable to move consistently below 1.1445
could trigger further upside pressure testing 1.1695 region. On the
other hand, we need a consistent move below 1.1445 to continue the
bearish pressure testing 1.1300 region and could be considered as
bullish scenario failure.
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USDJPY Daily Forecast: June 10 |
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Written by Administrator
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Thursday, 10 June 2010 |
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USDJPY Forecast:
The USDJPY didn’t make significant movement yesterday. The bias is
neutral in nearest term but as you can see on my h4 chart below price
is moving inside a descending triangle after violation of the bullish
channel indicating potential bearish scenario especially if price break
below the triangle targeting 90.50 before testing 89.00 region. On the
upside, consistent move above 91.80 could trigger further bullish
momentum testing 93.00 area as the descending triangle bearish scenario
fails.
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GBPUSD Daily Forecast: June 10 |
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Written by Administrator
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Thursday, 10 June 2010 |
GBPUSD Forecast:
The GBPUSD attempted to push higher yesterday after rejection to move
below the trendline support, topped at 1.4606 but closed lower at
1.4527. The bias is neutral in nearest term. On h4 chart below we can
see that the upper line of the bearish channel still hold, prevent
further upside movement, keep the major bearish scenario intact.
However, if price violate the bearish channel, the bearish scenario
could be in a serious threat. Immediate resistance at 1.4606
(yesterday’s high). Consistent move above that area could trigger
further bullish correction towards 1.4700 region. On the downside. We
need a clear break below the trendline support to continue the bearish
scenario testing 1.4240 region this week.
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EURUSD Daily Forecast: June 10 |
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Written by Administrator
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Thursday, 10 June 2010 |
EURUSD Forecast:
The EURUSD attempted to push higher yesterday, topped at 1.2072 but
unable to consistently move above 1.2050, and closed lower below 1.2000
psychological area. The Euro has been moving in rapid bearish movement
since December 2009 from 1.5140, so any upside pressure is normal at
this phase as price already in oversold area. We need a clear break
below the minor bullish channel (blue channel) to continue the bearish
scenario testing 1.1800 and 1.1600 area. As you can see on my h1 chart
below, price has to move above the minor trendline resistance (red) to
continue the bullish correction scenario. We still have some space for
the upside correction in nearest term while market is still volatile,
but the main scenario remains to the downside. Immediate resistance at
1.2050/70 followed by 1.2150 region.
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