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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Friday, 24 September 2010 06:44
EURUSD
EURUSD closed @ 13315 which was BELOW the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 13400 holds and Daily Trend is Limited Up while 13000 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day's Range but the Bears gained towards the Close which signifies a Choppy session with some Weakness. The MA is suggesting Choppy Session with a Downside Bias and the Oscillators are suggesting the Same . The Hourly Trend has been in a Range Trading with a Price Target of 13260-30/13175 and the Patterns are suggesting that the Bulls may struggle to clear 13380 mark , 13370-13400 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 1 levels.
BULLS: 13280 13230 13175 BEARS: 13380 13430 13485
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPUSD
GBPUSD closed @ 15685 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 15565 holds and Daily Trend is also Sideways while 15400 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within Range Trading but the Bulls gave up mildly towards the Close which signifies a Choppy session until the break. The MA is suggesting a Mixed Bias and the Oscillators are suggesting Mixed Signals. The Hourly Trend has been in a Range Trading with no Clear Direction with no Price Target until the break and the Patterns are suggesting that the Bulls need to crack 15745-60 levels for further gains, 15625-15565 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 & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.
USDJPY
USDJPY closed @ 8440 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 MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 8505 holds and Daily Trend is Turning Up while 8285 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend was within the Prior Day's Range the Price Closed Unchanged towards the Close which signifies a Choppy Session . The MA is suggesting a Choppy Session with a Mixed Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Limited Downside Bias and a Price Target 8395-30 levels and the Patterns are suggesting a Choppy session until the break, 8485-8505 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the Price breaks out of Zone 1 levels.
BULLS & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.