InstaForex

EURUSD Forecast: Consolidating, bullish scenario remains intact

Wednesday, 11 November 2009 02:58

The EURUSD made indecisive movement yesterday. The pair attempted to push lower, bottomed at 1.4937 but closed higher at 1.4983. I think the pair is now consolidating after significant bullish on Monday. The bias is neutral in nearest term but bullish scenario should remains intact, at least indicated by a bullish channel (yellow) as you can see in my h4 chart below.

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USDCHF Daily Forecast: November 06

Friday, 06 November 2009 04:51

USDCHF Forecast
Similar to EURUSD and GBPUSD, the USDCHF was indecisive yesterday. On my h4 chart below we can see that the pair still struggling around the lower line of the range area at 1.0166. I think we are in no trading zone now.

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USDJPY Daily Forecast: November 06

Friday, 06 November 2009 04:51

USDJPY Forecast:
The USDJPY attempted to push lower yesterday, bottomed at 89.98 but whipsawed to the upside and closed higher at 90.74. This fact indicating that potential upside pressure is still alive and kicking with the lower line of the bullish channel remains potential resistance area to be tested.

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GBPUSD Daily Forecast: November 06

Friday, 06 November 2009 04:50

GBPUSD Forecast:
The GBPUSD also indecisive yesterday. The BoE decided to increase the quantitative easing program by £25bn to £200bn. Although the QE program was expanded,  the Sterling edges higher as market expected a £50bn expansion.

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