Tue, 14th of October, 2008
By Setyo Wibowo
EURUSD Outlook
Yesterday the EURUSD Attempted to push higher, topped at 1.3683 but the upside momentum seemed limited as the pair closed lower at 1.3596. We have a new bullish channel on hourly chart, so we might see another upside attempt testing 1.3760 and 1.3863 resistance levels. Initial support is seen at 1.3540 followed by 1.3480. CCI heading up towards 100 line on 4h chart and just cross -100 line on daily chart suggesting a potential upside momentum.
EURUSD Daily Supports and Resistances:
- S1= 1.3474
- S2= 1.3352
- S3= 1.3248
- R1= 1.3700
- R2= 1.3804
- R3= 1.3926
GBPUSD Outlook
The GBPUSD was corrected to the upside yesterday. The pair topped at 1.7440 and closed at 1.7408. We have a new bullish channel on hourly chart, so we might have another bullish momentum today. Immediate support is seen at 1.7350. CCI just cross 100 line up on 4h chart, and just cross -100 line up on daily chart suggesting a potential bullish view testing 1.7491 then 1.7650 resistance levels.
GBPUSD Daily Supports and Resistances:
- S1= 1.7035
- S2= 1.6662
- S3= 1.6460
- R1= 1.7610
- R2= 1.7812
- R3= 1.8185
USDJPY Outlook
The USDJPY continued it’s bullish correction yesterday. The pair topped at 102.15 and closed at 102.00. Early today in Asian session the pair continued the upside momentum, traded around 102.70 at the time I wrote this comment. My model is mixed with upside bias. Immediate resistance is seen at 103.43. Initial support at 101.50. CCI in overbought area on 4 chart.
USDJPY Daily Supports and Resistances:
- S1= 100.32
- S2= 98.64
- S3= 97.73
- R1= 102.91
- R2= 103.82
- R3= 105.50
USDCHF Outlook
Yesterday the USDCHF continued it’s bullish momentum but with less power than I had expected. The pair topped at 1.1440 but closed lower at 1.1376. However we have a valid bullish channel on 4h chart. Early today is Asian session the pair pushed lower, traded around bullish channel support at 1.3330 at the time I wrote this comment. Should the bullish channel violated to the downside, it should provide us a bearish view. Immediate support is seen at 1.1290 followed by 1.1190. CCI about to cross 100 line down on 4h chart suggesting a potential bearish view.
USDCHF Daily Supports and Resistances:
- S1= 1.1366
- S2= 1.1357
- S3= 1.1470
- R1= 1.1262
- R2= 1.1149
- R3= 1.1158
Have a great day!