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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Thursday, 11 March 2010 06:26
EURUSD
EURUSD closed @ 13660 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish but Weak and the price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 13715 holds and Daily Trend is also Sideways while 13865 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range but the Bulls gained towards the close. The Hourly Trend has been in a Range Trading with no Clear Direction ,13680-13715 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: 13605 13550 13455 BEARS: 13695 13750 13805
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
GBPUSD
GBPUSD closed @ 14980 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 15040 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 most of the gains towards the close. The Hourly Trend has been in a Range Trading with no Clear Direction ,15015-40 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: 14920 14860 14780 BEARS: 15030 15065 15135
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
USDJPY
USDJPY closed @ 9055 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 9110 holds and Daily Trend is also Sideways while 8870 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend breached the prior two day's High but the Bulls gave up mildly towards the close. The Hourly Trend has been in a Range Trading with a potential to turn down, 9085-9110 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 suggests that JPY is Strong against most of the Crosses so the Bulls must be Cautious.
BULLS: 9020 8960 8880 BEARS: 9085 9110 9175
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only