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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Monday, 06 June 2011 06:40
EURUSD
EURUSD closed @ 14640 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 14525 holds and Daily Trend is also Sideways Up while 14115 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is above the MA's and pointing up , the Bulls gained aggressively towards the close . The Patterns are suggesting that the Bulls are approaching stiff resistance. The Hourly time frame, the Price is above the MA's and pointing up , the Oscillators are suggesting a limited upside bias . The Patterns are suggesting a range trading with a potential to break higher . The 15min time frame, suggesting a range trading until the break but the Bulls may struggle near 14725-65 levels, 14585-25 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 2 levels and High-Low time does not gives us good signals.
BULLS: 14585 14535 14465 BEARS: 14730 14830 14885
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPUSD
GBPUSD closed @ 16425 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 20 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Mildly Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 16335 holds and Daily Trend is also Sideways while 16060 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is within the MA's and horizontal, the Bulls gained towards the close. The Patterns are suggesting a range trading until the break . The Hourly time frame, the Price is mildly above the MA's and horizontal , the Oscillators are suggesting a bullish signal. The Patterns are suggesting range trading with a potential to break higher. The 15min time frame, suggesting a choppy session until the break, 16365-35 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 2 levels and High-Low time does not gives us good signals.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDJPY
USDJPY closed @ 8030 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Mildly Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 8115 holds and Daily Trend is Sideways Down while 8415 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is within the MA's but pointing down , the Bears gained towards the Close. The Patterns are suggesting a Range trading until the break . The Hourly time frame, the Price is mildly below the MA's but pointing down, the Oscillators are suggesting a mixed signals. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break, 8070/8115 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 2 levels and High-Low time does not give us good signals.
BULLS & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.