[Leobrfx]

EURUSD 07/10/09Forecast: Found Resistance at 1.4761. Support area to be Watched Today
The EURUSD continued it’s bullish momentum yesterday, topped at 1.4761 and closed at 1.4721. On h1 chart below we can see that 1.4671 area is an important intermediate resistance at this phase. The bias is neutral in nearest term and we might see some downside correction today, but the bullish scenario with 1.4850 as potential target especially if price break above 1.4761 area remains intact. However do not rush buying now. CCI heading down towards -100 line on h1 chart and price pullback after touch 1.4761 so watch out for potential downside correction testing 1.4695 – 1.4650 support area. I will be watching any reaction around that support area before make any decision today. If price able to stay above that support area, the bullish scenario re-testing 1.4850 should remains intact. Break below that area should diminish my bullish view but short position is not recommended at this phase.
http://blog.fxinstructor.com/wp-cont...rusdhourly.jpg
GBPUSD Forecast:
The GBPUSD made another volatile but indecisive movement yesterday. On h4 chart below we can see that once again, price slipped above 1.6000, topped at 1.6047 but whipsawed to the downside, bottomed at 1.5875 and closed at 1.5915. The bias is bearish in nearest term but we need consistent move below 1.5905 for a bearish continuation confirmation re-testing 1.5808 area. Immediate resistance at 1.5950 – 1.6000 area. Break above that area could trigger further bullish momentum but long position is not recommended at this phase.
http://blog.fxinstructor.com/wp-cont...sd4hchart4.jpg

[Leobrfx]

EURUSD Forecast08/10: Corrected Lower, Support Hold, Bullish Remains Intact.
The EURUSD was corrected lower yesterday but I am not surprise. In fact, I think we need this correction in order to continue the bullish scenario re-testing 1.4850 area. On my h1 chart below we can see that the price bounced from my 1.4695 – 1.4650 support area and now has break above the minor trendline resistance (blue) indicating a bullish potential. Immediate support at 1.4650 area. Only break below that area could diminish my bullish outlook.
http://blog.fxinstructor.com/wp-cont...usdhourly1.jpg

GBPUSD Daily Forecast: October 08
The GBPUSD attempted to push lower yesterday, bottomed at 1.5857 bit whipsawed to the upside, topped at 1.5971 and closed at 1.5954. The volatile but indecisive market since last week indicating a consolidation reflected in the triangle formation as you can see in my h4 chart below. I still prefer a bearish scenario but it’s easy to see that the bearish pressure is starting to lose some momentum and we need a break from the triangle to see a clearer direction. The bias is bullish in nearest term as price might attempted to breakout the triangle. If that happen, expect further bullish momentum retesting 1.6113 area. Immediate support at 1.5857 (yesterday’s low).
http://blog.fxinstructor.com/wp-cont...sd4hchart6.jpg

[Leobrfx]

EURUSD Forecast: Double Top or 1.5000 - 1.5300?
Fri, 09th of October, 2009
As I had expected, after corrected lower on Wednesday, the EURUSD continued it's bullish scenario yesterday, topped at 1.4817 and closed at 1.4792. As you might already know, I believe that we are in critical phase now with 1.4850 - 1.4950 as the key resistance level. Break above that area could lead us into a new stage of bullish phase towards 1.5300. The bias is clearly bullish now but we have to be careful and keep watching any reaction around 1.4850. On my daily chart below, we can see that we have potential double top formation around 1.4850 area. If price hit 1.4850 and reject further bullish momentum, we might have a potential bearish correction towards trendline support area (orange). Personally I prefer a bullish continuation testing 1.5000 even 1.5300 but like I said, I will be watching reactions around 1.4850 before make any decisions today. Although short position would be very uncomfortable at this phase, any rejection to move above 1.4850 should diminish my bullish view since that area is a long term key resistance level which is potentially has a bigger impact.
http://blog.fxinstructor.com/wp-cont...rusddaily2.jpg
GBP/USD Fri, 09th of October, 2009
The GBPUSD had a bullish momentum yesterday. On h4 chart below we can see that the triangle has been violated to the upside indicating potential bullish view. Price now traded lower after topped at 1.6120, around 1.6057 at the time I wrote this comment. As long as the pair able to stay above 1.6000, the nearest bias remains bullish and break above 1.6120 area should trigger further bullish momentum testing 1.6265 area. However break below 1.6000 and a movement back into the triangle should be seen as the bullish scenario failure and could give a chance for the bearish pressure to regain it's momentum. So I will be watching any reactions around 1.6000 area today before make any decision.
http://blog.fxinstructor.com/wp-cont...sd4hchart7.jpg
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EURUSD 12/10Forecast: Corrected Lower in A Bearish Channel. Key Support area to be Watched
The EURUSD made another downside correction on Friday. On h1 chart below we can see that the pair attempted to push lower, slipped below 1.4688 support area (38.2% Fibo retracement of 1.4479 – 1.4817) but so far further downside pressure was limited . The bias is neutral in nearest term. Price is now moving in a bearish channel indicating that the bearish correction remains intact. Only a violation to the bearish channel should continue further bullish momentum re-testing 1.4850. Immediate support at 1.4688/50 area, which is my key support level for today and I will be watching any reaction around that area before make any decision. Consistent movement below that area could be a potential threat to the bullish outlook and challenging 1.4479 area. Although the bullish scenario also remains intact, note that rejection to move above 1.4850 could be an important technical even in longer term which potentially trigger a significant bearish reversal.
GBPUSD Daily Forecast: October 12

GBPUSD Forecast:
The GBPUSD had a significant bearish momentum on Friday. On my h4 chart below we can see that we have a bearish situation indicated by bearish trendline (red). After consolidating and made some bullish correction, price now has break the minor trendline support (blue) indicating bearish view. The bias is bearish in nearest term at least targeting 1.5760 support area which is my key support level for this week. Break below that area should continue the bearish scenario towards 1.5530 even 1.5355 area. Immediate resistance at 1.5875 and the trendline area (blue, former support). Break above that area should lead us into no trading zone but long position is not recommended at this phase.

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EURUSD Forecast: Bullish Continues, Re-testing 1.4850
The EURUSD had had a bullish momentum yesterday, topped at 1.4812 and closed at 1.4776. Although the nearest term bias should remains bullish, actually my medium term outlook remains neutral as the pair still move below 1.4850 key resistance area. My yesterday’s technical strategy worked fine. As you can see in my h1 chart below, price had a bullish momentum after rejected to move below 1.4688/50 support area, violated the bearish channel to the upside and hit the top. The bias is bullish in nearest term still re-testing 1.4850. Break above that area should lead us into a new stage of bullish scenario targeting 1.5000 even 1.5300 area. My key support level to be watched today is 1.4760/30 area. I will be watching any reactions around that area before make any decision. As long as that support area hold, the Dollar should remains under pressure today. On the other hand, failure to consistently move above that area could trigger another downside correction testing 1.4650 area.
GBPUSD Daily Forecast: October 13
We had a quite volatile market yesterday. After hit the top at 1.5882, the GBPUSD attempted to push lower, bottomed at 1.5727 but bearish pressure was limited as the pair closed higher at 1.5795. On h4 chart below we can see that this was a case of a false breakdown from my 1.5760 key support area. Today, beside that support area, I will be watching any reactions around 1.5882 (yesterday’s high) and trendline resistance (blue) area. Consistent move below 1.5760 or a rejection to move above 1.5880 and the trendline resistance area might give us a good short trade opportunity. Long position is not recommended at this phase.
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EURUSD Forecast: 14/10 Slipped Above 1.4850, Further Dollar Weakness Expected
The EURUSD continue it’s bullish momentum yesterday, topped at 1.4874 and closed at 1.4851. As you might already know, 1.4850 – 1.4950 area is a very important area for me since I believe any reactions around that area determine whether we will continue the bullish at least towards 1.5300 even 1.6000 area or a bearish reversal back towards 1.4000 area.
So far, the facts show us that the bullish scenario is in control so I prefer a bullish scenario. On h1 chart below we have a valid bullish channel (blue channel) started from October 02 indicating bullish power has been dominating the movement. The bias is bullish in nearest term targeting 1.4950 area but we need consistent move above 1.4850.
GBPUSD Daily Forecast: October 14
The GBPUSD failed to continue it’s bearish scenario yesterday. On h4 chart below we can see that after failed to stay consistently below 1.5760, price whipsawed to the upside and slipped above the minor trendline resistance (blue), a serious threat to my bearish outlook. Although it’s too early for a bullish reversal scenario, the bias is bullish in nearest term testing 1.6000/50 area. Break above that area and violation to the major trendline resistance (red) could trigger further bullish momentum. While broad Dollar weakness continues, violation of the major trendline resistance could be a potential starting point for a bullish reversal scenario. Immediate support at 1.5880/50 area. Break below that area should keep the bearish scenario intact re-testing 1.5707.
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The EURUSD 15/10 continue it's bullish momentum yesterday, topped at 1.4946 and closed at 1.4933. On my daily chart below we can easily see that 1.4950 area is a very important resistance level, my final technical resistance to be tested before aim for 1.5300 even 1.6000 area.
On h1 chart below we can see that the bullish channel remains strong and valid indicating upside scenario still dominate and control the movement. The bias remains bullish in nearest term but we need a valid break above 1.4950 area before targeting at least 1.5100 - 1.5140. CCI in overbought area and heading down on h4 so watch out for potential downside correction testing immediate support at 1.4850. Break below that area could trigger further bearish correction back towards 1.4760 but short position is not recommended.
The GBPUSD 15/10 continued it's bullish momentum yesterday, topped at 1.6024 and closed at 1.6001. On h4 chart below we can see that we are now in critical phase where price challenging the major trendline resistance (red). A Valid break above the trendline should be seen as the end of my bearish view and could be the beginning of a bullish scenario. The bias is bullish in nearest term targeting 1.6113 but we need a consistent move above the trendline resistance to continue the bullish momentum. Immediate support at 1.5950 - 1.5900 area. Break below that could trigger further bearish momentum back towards 1.5760 area.
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[Leobrfx]

EURUSD Daily Forecast: October 19
The EURUSD made a significant technical movement early today in Asian session, break below my key support level 1.4850. Technically, this fact open a way for a further bearish correction at least re-testing 1.4720 in nearest term, but correction is just a correction and short position is not recommended at this phase. On the upside, 1.4950 remains a good resistance but a valid break above that area should trigger further bullish continuation targeting at least 1.5080 area before aim for 1.5300. I still prefer a bullish scenario.
GBPUSD Forecast:
The GBPUSD continued it’s bullish momentum on Friday, topped at 1.6398 and closed at 1.6353 but traded lower early today in Asian session. The bias is neutral in nearest term as we might have some downside correction today so do not rush buying now. A look on daily chart reveals that bullish momentum might find good resistance around the bearish channel upper line, which also a trendline resistance. I think I have made a mistake by not seeing this bearish channel and thus made a premature bullish reversal scenario conclusion. As long as the bearish channel valid, the bearish scenario remains intact. Immediate support at 1.6235 followed by 1.6140. Initial resistance at 1.6398 followed by 1.6468.

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The EURUSD 20/10 slipped above the range are of 1.4850 - 1.4950 yesterday, topped at 1.4980. The bias is bullish in nearest term targeting 1.5080 and 1.5140 but we need a consistent move above 1.4950 to confirm the bullish scenario. Like I said yesterday, the market has been quite volatile lately produced some false break so be careful and execute stop losses without any doubt. Any movement back below 1.4930 area should lead us back into no trading zone, re-testing 1.4850/30, but the mode remains bullish and short position is not recommended. Buy on dips but do not short on rallies.

The GBPUSD continued it's bullish momentum on yesterday, topped 1.6433 and closed at 1.6422. On my daily chart below we can see that price is now testing the upper line of the bearish channel, which is the final resistance of my bearish outlook. I think we have a nice place around that area to place a short position targeting at least 1.6300 area. The risk-reward ratio also looks good with tight stop loss above the bearish channel. A violation to the bearish channel should be seen as the end of the bearish scenario and the beginning of bullish phase back towards 1.7042 area in longer time frame.
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The EURUSD 21-10 made another correction yesterday. The pair attempted to push higher, topped at 1.4993 but whipsawed to the downside, bottomed at 1.4881 and closed at 1.4936. On h4 chart below we can see that this was a case of a false breakout, which potentially produce significant downside correction. 1.4850 area and the lower line of the bullish channel are my important support area. As long as the pair stay above that area the bullish scenario should remains strong. Any movement below 1.4850/30 could trigger further significant bearish correction towards 1.4760/20 area and could be a potential threat to my bullish outlook. Technically I don't have any good sign of a bearish reversal so far, so short position still not recommended. The bias is neutral in nearest term and we might have another downside correction and but overall I still prefer a bullish scenario with 1.5300 as potential target. I think we are in transition phase with 1.4850 - 1.4950/1.5000 area as critical area, so volatility and hesitation in the market are actually normal.
The GBPUSD attempted to push higher yesterday, slipped above the upper line of the bearish channel, topped at 1.6488 but failed to consistently move above the bearish channel and closed lower at 1.6384. I think the upper line of the bearish channel is still a good area to place a short position at this phase. A false breakout usually lead to significant bearish momentum. Immediate support at 1.6300. Break below that area should trigger further bearish momentum towards 1.6140 area. Initial resistance at 1.6488 (yesterday,s high). Break above that area should be seen as the end of the bearish scenario.
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