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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Friday, 27 August 2010 05:36
EURUSD
EURUSD closed @ 12715 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 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. 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 breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies a Choppy Session until the break with mild Weakness . The Hourly Trend has been in a Range Trading with no Clear Direction, 12660-12595 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: 12640 12575 12500 BEARS: 12750 12775 12865
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPUSD
GBPUSD closed @ 15530 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 30 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 15425 holds and Daily Trend is also Sideways while 15725 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies some Weakness during the First half of the Day . The Hourly Trend has been in a Range Trading with no Clear Direction,15470-15425 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: 15465 15420 15325 BEARS: 15575 15625 15675
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDJPY
USDJPY closed @ 8445 which was BELOW 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 8505 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 Price Closed Unchanged towards the Close which signifies Choppy Session until the Break. The Hourly Trend has been in a Range Trading, 8490-8505 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 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: 8395 8345 8300 BEARS: 8485 8530 8600
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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