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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Tuesday, 16 March 2010 06:01
EURUSD
EURUSD closed @ 13680 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Up while 13595 holds and Daily Trend is also Sideways Up while 13505 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend plunged but within the prior day's Range and the Bears gave up mildly towards the close. The Hourly Trend has been in a Range Trading with a Upside Bias ,13645-13595 are the critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the gradual Up Channel 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: 13645 13585 13535 BEARS: 13735 13795 13825
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 13735 with a tight stop with a 50 pips price target.
GBPUSD
GBPUSD closed @ 15055 which was BELOW the open and was within prior day's trading range. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 15140 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 plunged but within the prior day's Range and the Bears gave up mildly towards the close. The Hourly Trend has been in a Range Trading with no Clear Direction ,15115-40 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: 14995 14925 14905 BEARS: 15110 15170 15205
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 UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the price is Below the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways Down while 9100 holds and Daily Trend is Sideways while 8870 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend plunged but within the prior day's Range and the Bears gave up mildly towards the close. The Hourly Trend has been Creeping Lower and expect it to continue in this manner , 9085-9100 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 Lower lows are expected provided 9085 holds. The Opening Price Principles suggests that JPY is Strong against most Crosses so expect the Bears to control at least the First half of the Session.
BULLS: 9005 8965 8905 BEARS: 9085 9135 9175
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 9025 9085 with a tight stop with a 50 pips price target.