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Tue, 07th of October, 2008
By Setyo Wibowo

EURUSD Outlook
Yesterday the EURUSD continued it’s bearish momentum. The pair hit my short target at 1.3530, even further, bottomed at 1.3442 and closed at 1.3486. From a long term point of view at weekly chart, the pair is now testing major long term support at 1.3338 as the new bearish target. My model remains short. CCI in oversold area on 4h chart and heading up suggesting a potential upside correction testing 1.3560 and 1.3644 resistance levels.

EURUSD Daily Supports and Resistances:

• S1= 1.3392
• S2= 1.3299
• S3= 1.3156
• R1= 1.3886
• R2= 1.4000
• R3= 1.4093

GBPUSD Outlook
After a minor recovery on Friday, yesterday the GBPUSD continued it’s bearish scenario. The pair hit my short targets at 1.7551 and 1.7451, even further bottomed at 1.7335. My model remains short targeting 1.7215. CCI just cross -100 line down both on daily and weekly chart suggesting a potential bearish view. Immediate resistance is seen at 1.7494.

GBPUSD Daily Supports and Resistances:

• S1= 1.7280
• S2= 1.7128
• S3= 1.6921
• R1= 1.7639
• R2= 1.7846
• R3= 1.7998

USDJPY Outlook
The Greenback suffered huge losses against Japanese Yen yesterday. The pair moved almost 500 pips, bottomed at 100.22 and closed at 101.52. Early today in Asian market the pair was corrected higher around 101.90 at the time I wrote this comment. My model is mixed with downside bias. Immediate resistance is seen at 102.20 followed by 102.80. Initial support at 101.26. CCI in extreme oversold area both on daily and weekly chart suggesting a potential upside correctional move.

USDJPY Daily Supports and Resistances:

• S1= 99.44
• S2= 97.35
• S3= 94.48
• R1= 104.38
• R2= 107.25
• R3= 109.33

USDCHF Outlook
The USDCHF continued it’s bullish momentum yesterday. The pair topped at 1.1485 and closed at 1.1480. My model is long targeting 1.1580. CCI just cross 100 line up on both daily and weekly chart suggesting a potential bullish view. Immediate support is seen at 1.1412. followed by 1.1360.

USDCHF Daily Supports and Resistances:

• S1= 1.1340
• S2= 1.1200
• S3= 1.1128
• R1= 1.1552
• R2= 1.1624
• R3= 1.1764

Have a great day!