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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Thursday, 26 August 2010 07:12
EURUSD
EURUSD closed @ 12660 which was ABOVE the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 12595 holds and Daily Trend is also Sideways while 12935 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gained mildly towards the Close which signifies a Choppy Session until the break . The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack 12725 for further gains, 12605-12595 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 until there is a Clear Break . The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 12625 12560 12500 BEARS: 12745 12805 12865
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPUSD
GBPUSD closed @ 15460 which was ABOVE 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 25 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 15390 holds and Daily Trend is also Sideways while 15725 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gained towards the Close which signifies some Strength during the First half of the Day . The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack 15520-50 for further gains, 15425-12390 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 but the Bulls are struggling to push higher. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 15460 15400 15345 BEARS: 15520 15550 15605
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDJPY
USDJPY closed @ 8460 which was ABOVE the open and was within prior day's trading range. 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 and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 8400 holds and Daily Trend is Limited Down while 8660 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gained towards the Close which signifies Choppy Session until the Break. The Hourly Trend has been in a Range Trading, 8 415-00 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 Choppy session until there is a Clear Break . The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 8430 8390 8350 BEARS: 8510 8560 8610
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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