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Wed, 01th of October, 2008
By Setyo Wibowo

EURUSD Outlook
The EURUSD continued it’s bearish momentum yesterday. The pair bottomed at 1.4009 and closed at 1.4113. The bearish scenario should continue to gather momentum today. My model is short targeting 1.3957 then 1.3880. Immediate resistance is seen at 1.4185 followed by 1.4230. CCI already in oversold area and heading up towards -100 line on 4h chart so watch out for a minor bullish correction.

EURUSD Daily Supports and Resistances:

• S1= 1.3939
• S2= 1.3765
• S3= 1.3522
• R1= 1.4356
• R2= 1.4599
• R3= 1.4773

GBPUSD Outlook
The Greenback continue it’s positive momentum against sterling yesterday. The pair bottomed at 1.7758 and closed at 1.7832. My model remains short targeting 1.7660 then 1.7530 area. Immediate resistance is seen at 1.7913. CCI about to cross -100 line up on 4h chart suggesting a potential bullish correction.

GBPUSD Daily Supports and Resistances:

• S1= 1.7687
• S2= 1.7543
• S3= 1.7328
• R1= 1.8046
• R2= 1.8261
• R3= 1.8405

USDJPY Outlook
The Greenback recovered against Japanese Yen yesterday. The pair topped at 106.49 and closed at 105.98. We seemed to have a strong support at 103.40/50 area. My model is mixed with neutral bias. Immediate support is seen at 105.30. Initial resistance at 106.80. CCI in neutral area in all 3 time frames (hourly, 4h, daily).

USDJPY Daily Supports and Resistances:

• S1= 104.15
• S2= 102.33
• S3= 101.16
• R1= 107.14
• R2= 108.31
• R3= 110.13

USDCHF Outlook
The Swiss Franc slumped against Greenback yesterday. The pair topped at 1.1246 and closed at 1.1026. My model goes long targeting 1.1330. Immediate support is seen at 1.1157 followed by 1.1090. CCI in overbought area and heading down on 4h chart so we might have minor bearish correction.

USDCHF Daily Supports and Resistances:

• S1= 1.0985
• S2= 1.0764
• S3= 1.0634
• R1= 1.1336
• R2= 1.1466
• R3= 1.1687

Have a great day!