Members login
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Wednesday, 10 March 2010 06:24
EURUSD
EURUSD closed @ 13600 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 13670 holds and Daily Trend is also Sideways while 13865 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend breached the prior day's Low but the Bears gave up most of the gains towards the close. The Hourly Trend has been in a Range Trading with a Downside Bias ,13635-90 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the gradual Down Channel and the price patterns are suggesting a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 13560 13505 13455 BEARS: 13635 13670 13745
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPUSD
GBPUSD closed @ 14995 which was BELOW the open and breached the previous day's low. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Weak and the price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 15065 holds and Daily Trend is also Sideways while 15420 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's Low with the Bears gave up mildly towards the close. The Hourly Trend has been in a Range Trading with a Downside Bias ,15030-65 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 14960 14905 14845 BEARS: 15030 15085 15145
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
USDJPY
USDJPY closed @ 8995 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 30 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 8910 holds and Daily Trend is Sideways Up while 8815 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend was within prior two day's Range but the Bears gave up some of the gains towards the close. The Hourly Trend has been in a Range Trading with a limited Downside Bias, 8950-10 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 8945 8910 8870 BEARS: 9040 9080 9125
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only