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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Tuesday, 14 June 2011 06:18
EURUSD
EURUSD closed @ 14415 which was ABOVE the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Tgt 1 and the Low was 5 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 Turning Up while 14265 holds and Daily Trend is Sideways Up while 14125 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 time frame ,the Price is within the MA's and pointing horizontal , the Bulls gained towards the Close. The Patterns are suggesting the downside may be limited. The Hourly time frame, the Price is within the MA's and pointing horizontal , the Oscillators are suggesting an upside bias. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting a range trading with a potential to break higher, 14360/14265 are the Critical levels to watch to maintain the Bullish Outlook. The Low for today may be limited to 14370-45 levels. 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: 14385 14335 14285 BEARS: 14450 14485 14530
Today's Strategies: LONG @ the Break 14450 with a tight stop with a 35-50 pips price target.
GBPUSD
GBPUSD closed @ 16375 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from Precise Trader's Sup Zone 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 Up while 16265 holds and Daily Trend is Sideways while 16060 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is within the MA's and pointing horizontal, the Bulls gained aggressively towards the close. The Patterns are suggesting the downside may be limited . The Hourly time frame, the Price is mildly above the MA's and pointing horizontal , the Oscillators are suggesting an upside bias. The Patterns are suggesting range trading with a potential to break higher. The 15min time frame, suggesting higher highs are expected , 16315/16265 are the Critical levels to watch to maintain the Bullish Outlook. The Low for today may be limited to 16355-15 levels. 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 & 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.
USDJPY
USDJPY closed @ 8025 which was UNCHANGED from 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 Zone 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 7965 holds and Daily Trend is also Sideways while 8330 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's and pointing horizontal, the Price closed unchanged towards the Close but was within range . The Patterns are suggesting a Range trading until the break . The Hourly time frame, the Price is within the MA's but pointing horizontal, the Oscillators are suggesting a downside bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting choppy session until the break, 7985-65 are the Critical levels to watch to maintain the Bullish Outlook. The High & Low for today may be within the Range. 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 & 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.