| Story Views | |
| Now: | |
| Last Hour: | |
| Last 24 Hours: | |
| Total: | |
Daily Forecast for Crosses: September 10
EURJPY Forecast
The EURJPY continued its bullish momentum last week, topped at 100.41. Price corrected lower earlier today hit 99.95. The bias remains bullish in nearest term testing 101.00/60 region. Indicators are in overbought condition so any downside pullback is normal. Immediate support is seen around 99.80. A clear break below that area could lead price to neutral zone in nearest term testing 99.00 but as long as stays inside the bullish channel I still prefer to buy on dips.
GBPJPY Forecast
The GBPJPY attempted to push higher on Friday, topped at 126.17 but whipsawed to the downside and closed at 125.21. The bias is neutral in nearest term. Immediate support is seen around 124.70. A clear break below that area could trigger further bearish pressure testing 124.00 region. Immediate resistance is seen around 125.35. A clear break above that area could trigger further bullish pressure testing 126.00 before testing 127.00 region. Overall I still prefer to buy on dips as a part of the bullish scenario after break above the bearish channel as you can see on my daily chart below.
AUDUSD Forecast
The AUDUSD continued its bullish momentum on Friday but found a good resistance around 1.0400 and hit 1.0344 earlier today. The bias is neutral in nearest term. Price is still in a bullish intraday phase but I still prefer to sell around 1.0400 with a tight stop loss (above 1.0450) targeting 1.0200 or lower as a part of the bearish reversal scenario after broke below the bullish channel.
©2012 FX Instructor Forex Blog – For Traders, By Traders. All Rights Reserved.
.
2012-09-10 03:04:42
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-september-10-3
Source:
