Members login
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Monday, 20 September 2010 06:57
EURUSD
EURUSD closed @ 13050 which was BELOW the open and was within prior day's trading range. The High was 20 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 Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 12940 holds and Daily Trend is Sideways Up while 12830 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend is still Bullish but Weakening and the Bears gained mildly towards the Close which signifies a Choppy session with some Weakness . The MA is suggesting a Bullish Bias and the Oscillators are suggesting some Weakness. The Hourly Trend has been in a Range Trading with a Limited Downside Bias and the Patterns are suggesting that the Downside should be Limited,12995-40 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 13020 12940 12875 BEARS: 13120 13200 13250
Today's Strategies: LONG near 12995 12940 with a tight stop with a 50 pips price target.
GBPUSD
GBPUSD closed @ 15630 which was UNCHANGED from 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 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 Turning Up while 15535 holds and Daily Trend is Sideways Up while 15370 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend was within the Prior Day's Range and the Price Closed unchanged towards the Close which signifies a Choppy session until the break . The MA is suggesting a Bullish Bias and the Oscillators are suggesting Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break Higher but the Bulls need to Crack 15690- 15730 for further gains ,15570-35 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 15625 15575 15530 BEARS: 15730 15800 15865
Today's Strategies: LONG @ the Break 15690 with a tight stop with a 50 pips price target.
USDJPY
USDJPY closed @ 8585 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 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 8520 holds and Daily Trend is Turning Up while 8285 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range and the Price Closed unchanged towards the Close . The MA is suggesting a Choppy session until the break with a Bullish Bias and the Oscillators are giving Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break, 8520-00 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed but the Downside may be Limited.
BULLS: 8540 8490 8440 BEARS: 8610 8675 8725
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
For regular updates, please visit www.precisetrader.com