Sunday, January 13, 2013

$EURUSD Outlook Update

EURUSD DAILY CHART - The pair finally reach target from previous post (FE 61.8% at 1.3370). expect choppy movements between 1.3100/1.3000 support area and 1.3500/1.3370 resistance area for next week.

EURUSD WEEKLY CHART - Above 1.3500 will extend recovery outlook toward 1.3800/1.4000 near 61.8% retracement level of 2-year high (1.4937) and low (1.2040).

Friday, January 11, 2013

$GBPUSD Update

GBPUSD 4-HOUR CHART - Price action went as expected since previous update, currently trading above 1.6100/1.6080 (current support area). I expect Cable to make higher highs toward 1.6300 and then maybe another fall to test 1.6000 support.

Sunday, January 06, 2013


GBPUSD Previous Post <<

GBPUSD 4-HOUR CHART - I expect 1.6000 support to hold and bring another momentum to test 1.6300.

GBPJPY HOURLY CHART - Above 141.70 should increase probability of uptrend continuation.

Saturday, January 05, 2013

$XAUUSD Update

Gold bounce from 61.8% level at 1642 as expected but failed to reach my second target at 1700. The precious metal fell sharply and breach previous low before settling back above 1642. Outlook remain bullish above 1633/42.

XAUUSD DAILY CHART - Possible double bottom formation.

Tuesday, January 01, 2013

$EURUSD H1 Chart Update

The completion of the double top pattern failed to trigger sharp correction and consolidated between prior week top and bottom instead. This development actually strengthen its medium-term bullish outlook although a lower correction toward 61.8% retracement level is still normal in my opinion. Or in other words I believe that the Euro should find support above 1.2870 against the Dollar if the bull lose current ground above 38.2% retracement level at 1.3142. I am hoping that the pair will eventually reach 61.8% projection at 1.3369.



EURUSD DAILY CHART - Medium-term outlook unchanged.