Members login
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Monday, 15 March 2010 06:39
EURUSD
EURUSD closed @ 13770 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 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Up while 13675 holds and Daily Trend is also Sideways Up while 13530 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend rallied above the few prior day's High and the Bulls gave up mildly towards the close. The Hourly Trend has been Creeping lower but expect the Bulls to test the Highs soon ,13715-13675 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel with an Upside Bias and the price patterns are suggesting a Choppy Session with a potential to break Higher. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 13705 13630 13585 BEARS: 13805 13840 13915
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 13705 13675 with a tight stop with a 50 pips price target.
GBPUSD
GBPUSD closed @ 15205 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 15085 holds and Daily Trend is Sideways Up while 14840 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior few day's High with the Bulls holding their gains till the close. The Hourly Trend has been in a Range Trading but expect the Bulls to test the Highs ,15145-15085 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel with an Upside Bias and the price patterns are suggesting a Choppy Session with a potential to break Higher. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 15120 15085 15035 BEARS: 15275 15360 15420
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 15120 15085 with a tight stop with a 50 pips price target.
USDJPY
USDJPY closed @ 9055 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 9005 holds and Daily Trend is also Sideways while 8890 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend breached the prior day's High marginally but gave up and closed Unchanged towards the close. The Hourly Trend has been in a Range Trading with no Clear Direction, 9005-8985 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: 9025 8985 8940 BEARS: 9095 9135 9175
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only