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Tue, 19th of August, 2008
By Setyo Wibowo

EURUSD Outlook
Yesterday the EURUSD made indecisive movement by opened and closed at almost the same price (1.4682 and 1.4677). The pair had a minor upside correction, topped at 1.4767 but failed to maintain bullish correction and dropped lower again. My model is mixed with neutral bias. Immediate resistance is seen at 1.4720 followed by 1.4767 (yesterday’s high). A consistent move above 1.4767 level could open the door for a further upside correctional move towards 1.4820 then 1.4975. Initial support at 1.4658 followed by 1.4614. CCI in neutral area on 4h chart.

EURUSD Daily Supports and Resistances:

• S1= 1.4643
• S2= 1.4610
• S3= 1.4548
• R1= 1.4738
• R2= 1.4800
• R3= 1.4833

GBPUSD Outlook
The GBPUSD didn’t make a significant move yesterday. The pair attempted to make a higher correction, topped at 1.8722 but closed lower at 1.8618. My model remains mixed with neutral bias. Immediate resistance is seen at 1.8673 followed by 1.8722 (yesterday’s high). Initial support at 1.8611 followed by 1.8562. CCI in neutral area on 4h chart.

GBPUSD Daily Supports and Resistances:

• S1= 1.8583
• S2= 1.8548
• S3= 1.8479
• R1= 1.8687
• R2= 1.8756
• R3= 1.8791

USDJPY Outlook
The USDJPY made a little movement of 51 pips yesterday. The pair topped at 110.47 and bottomed at 109.96. My model is mixed with neutral bias. Immediate support is seen at 109.60 followed by 109.30. Initial resistance at 110.50. CCI just cross 100 line down on daily chart, suggesting a potential bearish correction.

USDJPY Daily Supports and Resistances:

• S1= 109.93
• S2= 109.69
• S3= 109.42
• R1= 110.44
• R2= 110.71
• R3= 110.95

USDCHF Outlook
The USDCHF also didn’t make a significant movement yesterday. On hourly chart, we can see that the pair is traded in ranging market of 1.1007 and 1.0911. My model is mixed with neutral bias. A break out the downside could trigger further bearish correction towards 1.0822 area, while an upside break open the door towards 1.1120. CCI in neutral area on 4h chart.

USDCHF Daily Supports and Resistances:

• S1= 1.0928
• S2= 1.0873
• S3= 1.0836
• R1= 1.1020
• R2= 1.1057
• R3= 1.1112

Have a great day!