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FXOpen Manager
02-23-2009, 12:10 AM
Mon, 23th of February, 2009
By Setyo Wibowo
EURUSD Outlook
The EURUSD continued it's bullish momentum on Friday. The pair topped at 1.2884 and closed at 1.2836. On 4h chart we have a falling wedge formation which is a bullish reversal pattern. The bias is bullish in nearest term testing 1.3030 resistance area but remains neutral in medium term. CCI just cross the 100 line down on hourly chart suggesting a potential downside pressure testing support at 1.2700 - 1.2750 area.
https://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi9ldXJ1c2Q0aGNoYXJ0My0zMDB4MTgzLmpwZw== (http://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi9ldXJ1c2Q0aGNoYXJ0My5qcGc=)
EURUSD Daily Supports and Resistances:

S1= 1.2634
S2= 1.2432
S3= 1.2307
R1= 1.2961
R2= 1.3086
R3= 1.3288GBPUSD Outlook
The Greenback also traded lower against Sterling on Friday. The pair topped at 1.4480 and closed at 1.4425. Fibonacci retracement study on 4h chart below show us that last week the pair still trapped in ranging area between 23.6 % and 61.8% (1.4637 and 1.4073) area which is likely to stay that way if we do not have significant market catalyst this week ahead. The bias is bullish in nearest term testing 1.4550 resistance area but remains neutral in medium term. CCI just cross the 100 line down on hourly chart suggesting a potential downside pressure testing 1.4310 - 1.4350 support area.
https://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi9nYnB1c2Q0aGNoYXJ0MTEtMzAweDE4My5qcGc= (http://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi9nYnB1c2Q0aGNoYXJ0MTEuanBn)
GBPUSD Daily Supports and Resistances:

S1= 1.4224
S2= 1.4024
S3= 1.3896
R1= 1.4552
R2= 1.4680
R3= 1.4880USDJPY Outlook
The USDJPY failed to continued it's bullish momentum on Friday. Limited by double top formation the upside pressure was stopped and the pair was corrected lower, bottomed at 92.52 and closed at 93.02. The bias is bearish in nearest term testing 92.74 and 91.67 support area but remains neutral in medium term. Immediate resistance at 93.70. CCI in overbought area and heading down on daily chart suggesting a potential downside pressure.
https://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi91c2RqcHk0aGNoYXJ0OC0zMDB4MTgzLmpwZw== (http://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi91c2RqcHk0aGNoYXJ0OC5qcGc=)
USDJPY Daily Supports and Resistances:

S1= 92.23
S2= 91.44
S3= 90.37
R1= 94.09
R2= 95.16
R3= 95.95USDCHF Outlook
The Greenback slumped against Swiss Franc on Friday. The pair bottomed at 1.1461 and closed at 1.1525. On hourly chart below we can see that after violate the bullish channel to the downside the pair had a significant bearish momentum. The bias is bearish in nearest term testing 1.1400 support area but remains neutral in medium term. CCI just cross the -100 line up on hourly chart suggesting a potential upside pressure testing 1.1650 resistance level.
https://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi91c2RjaGZob3VybHk1LTMwMHgxODMuanBn (http://fxopen.com/services/ImageProxy.ashx?request=aHR0cDovL2Jsb2cuZnhpbnN0cnVjdG9yLmNvbS93cC1jb250ZW50L3VwbG9hZHMvMjAwOS8wMi91c2RjaGZob3VybHk1LmpwZw==)
USDCHF Daily Supports and Resistances:

S1= 1.1363
S2= 1.1201
S3= 1.0942
R1= 1.1784
R2= 1.2043
R3= 1.2205Have a great day!


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forexdude
02-23-2009, 01:32 PM
who is Setyo Wibowo :D