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Wed, 20th of August, 2008
By Setyo Wibowo

EURUSD Outlook
The EURUSD was corrected higher yesterday. The pair topped at 1.4795 and closed at 1.4781. We have a new bullish channel on hourly chart and might see another upside correctional movement today. Immediate resistance is seen at 1.4820. An upside break out from that level could trigger further bullish scenario towards 1.4975. Immediate support at 1.4757 followed by 1.4720. CCI just cross -100 line up on daily chart, suggesting a potential bullish correction.

EURUSD Daily Supports and Resistances:

• S1= 1.4675
• S2= 1.4569
• S3= 1.4509
• R1= 1.4841
• R2= 1.4901
• R3= 1.5007

GBPUSD Outlook
The GBPUSD also had a minor upside correction yesterday. The pair topped at 1.8680 and closed at 1.8666. The key level at this phase is 1.8750. An upside break from that level could trigger further bullish scenario. My model remains mixed with neutral bias. Immediate support is seen at 1.8616. Initial resistance at 1.8715. CCI about to cross -100 line up on daily chart suggesting a potential bullish correction.

GBPUSD Daily Supports and Resistances:

• S1= 1.8574
• S2= 1.8483
• S3= 1.8430
• R1= 1.8718
• R2= 1.8771
• R3= 1.8862

USDJPY Outlook
Yesterday the USDJPY continued it’s soft correctional bearish momentum. The pair bottomed at 109.56 and closed at 109.66. My model remains mixed with neutral bias. Immediate support is seen at 109.30. A further downside break from that support level could open the door towards 108.50. Initial resistance at 109.98. CCI in neutral area on daily chart.

USDJPY Daily Supports and Resistances:

• S1= 109.37
• S2= 109.08
• S3= 108.60
• R1= 110.14
• R2= 110.62
• R3= 110.91

USDCHF Outlook
The USDCHF was also corrected lower yesterday. The pair bottomed at 1.0895 and closed at 1.0913. We might see another downside correctional move today. Immediate support is seen at 1.0890 followed by 1.0830. Initial resistance at 1.0940. CCI just cross 100 line down on daily chart suggesting a potential bearish correction.

USDCHF Daily Supports and Resistances:

• S1= 1.0861
• S2= 1.0810
• S3= 1.0725
• R1= 1.0997
• R2= 1.1082
• R3= 1.1133

Have a great day!