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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Wednesday, 29 June 2011 06:38
EURUSD
EURUSD closed @ 14370 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 10 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 Turning Down while 14480 holds and Daily Trend is Sideways Down while 14460 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears 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 which signifies a range trading with some strength at the initial stage of the day. The Patterns are suggesting the upside may be limited. The Hourly time frame, the Price is within the MA's and pointing horizontal , the Oscillators are suggesting a limited upside bias. The Patterns are suggesting the upside may be limited. The 15min time frame, suggesting a choppy session with a potential to turn down soon,14315/14250 are the Critical levels to watch to maintain the Bullish Outlook. The High/ Low for the Week may be limited to 14405-65/13945-13805 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: 14295 14225 14175 BEARS: 14400 14465 14505
Today's Strategies: SHORT near 14400 14465 with a tight stop with a 35-50 pips price target.
GBPUSD
GBPUSD closed @ 16000 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 15 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish but Weak and the Price is Mildly Below the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 16115 holds and Daily Trend is Sideways Down while 16385 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's and pointing down, the Price closed unchanged towards the close which signifies a choppy session during the initial stage of the day. The Patterns are a range trading with a downside bias. The Hourly time frame, the Price is mildly below the MA's and pointing down , the Oscillators are suggesting a weak upside bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting choppy session until the break , 1606016115 are the Critical levels to watch to maintain the Bearish Outlook. The High/ Low for the Week may be limited 16075-16130/ 15805-15645 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.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDJPY
USDJPY closed @ 8110 which was ABOVE the open and breached the previous day's high. 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 Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Down while 8185 holds and Daily Trend is Sideways while 8225 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily time frame ,the Price is within the MA's and pointing horizontal, the Bulls gained but gave up mildly towards the close which signifies a choppy session until the break . The Patterns are suggesting a Range trading until the break . The Hourly time frame, the Price is above the MA's and pointing up, the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggesting a choppy session until the break, 8050-00 are the Critical levels to watch to maintain the Bullish Outlook. The High/ Low for the Week may be limited to 8175-8225/ 7955 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.