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Daily Forecast for Crosses: October 17
EURJPY Forecast
The EURJPY had a bullish momentum yesterday, topped at 103.50. The bias is bullish in nearest term testing 103.84 (September’s high). A clear break above that area could trigger further bullish scenario testing 104.40. Immediate support is seen around 102.80. A clear break below that area could lead price to neutral zone in nearest term testing 102.25 – 101.80 but as long as stays inside the bullish channel I still prefer a bullish scenario.
GBPJPY Forecast
The GBPJPY continued its bullish momentum yesterday topped at 127.31. The bias remains bullish in nearest term testing 127.80. Immediate support is seen around 126.75 (current low). A clear break below that area could lead price to neutral zone in nearest term testing 126.20/00 but as long as stays above the trend line support (white) I still prefer a bullish scenario.
AUDUSD Forecast
The AUDUSD continued its bullish momentum yesterday and hit 1.0323 earlier today. The bias remains bullish in nearest term testing 1.0400 region as a part of the false breakdown bullish scenario. Immediate support is seen around 1.0290. A clear break below that area could lead price to neutral zone in nearest term testing 1.0250. The current short term bullish condition could lead price back to a wide range area between 1.0610 – 1.0170.
2012-10-17 07:24:18
Source: http://www.fxinstructor.com/blog/daily-forecast-for-crosses-october-17-2
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