Members login
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Wednesday, 17 March 2010 05:49
EURUSD
EURUSD closed @ 13765 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways while 13685 holds and Daily Trend is Sideways Up while 13505 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend Rallied with the Bulls holding their gains till the close but was within prior Day's Range. The Hourly Trend has been in a Range Trading with the Bulls might have a tough challenge near 13800-20 levels , 13715-13685 are the critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the 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: 13730 13650 13620 BEARS: 13805 13865 13910
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 13820 with a tight stop with a 50 pips price target.
GBPUSD
GBPUSD closed @ 15245 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was 15 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Sideways while 15140 holds and Daily Trend is Sideways Up while 14840 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend Rallied with the Bulls holding their gains till the close. The Hourly Trend has been in a Range Trading with an Upside Bias , 15180-40 are the critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the steep Up Channel and the Patterns are suggesting a Choppy Session with the potential to break higher. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 15180 15140 15095 BEARS: 15305 15360 15400
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 15180 15140 with a tight stop with a 50 pips price target.
USDJPY
USDJPY closed @ 9030 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the price is Within the MA, so the Bulls have to be sidelined. 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 was within the prior Day's Range with the Bears giving up mildly towards the close. The Hourly Trend has been in a Range Trading with no Clear Direction , 9085-9110 are the critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session until the break. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 8980 8940 8905 BEARS: 9065 9105 9150
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only