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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Thursday, 21 July 2011 06:57
EURUSD
EURUSD closed @ 14215 which was ABOVE the open and was within prior day's trading range. The High was 25 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 14100 holds and Daily Trend is also Sideways while 14480 holds, so expect the Price to be Choppy until the Breakout. 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 indicates a choppy session until the break. The Patterns are suggesting a range trading until the break. The Hourly time frame, the Price is within the MA's and pointing horizontal , the Oscillators are suggesting a limited upside bias with no strength. The Patterns are suggesting the upside may be capped to 14430 level. The 15min time frame, suggesting a choppy session until the break,14160-00 are the Critical levels to watch to maintain the Bullish Outlook. The High/ Low for the Week may be limited to 14345-14430/13835-13655 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: 14180 14110 14050 BEARS: 14300 14385 14425
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
GBPUSD
GBPUSD closed @ 16155 which was ABOVE 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 Tgt 1. The Hourly Oscillators are Bullish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 16000 holds and Daily Trend is also Sideways while 16265 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is within the MA's and pointing horizontal, the Bulls gained towards the close but was within range 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 mildly above the MA's and pointing horizontal, the Oscillators are suggesting a limited upside bias with lack of strength. The Patterns are suggesting a range trading within 16220- 15980 levels . The 15min time frame, suggesting a choppy session until the break, 16095-00 are the Critical levels to watch to maintain the Bullish Outlook. The High/ Low for the Week may be limited 16195- 16265/15870-15780 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 @ 7880 which was BELOW 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 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7975 holds and Daily Trend is Sideways Down while 8150 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 Bears gained but was within a range 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 within the MA's and pointing horizontal, the Oscillators are suggesting a mixed bias . The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break, 7920-75 are the Critical levels to watch to maintain the Bearish Outlook. The High/ Low for the Week may be limited to 8085-8175/ 7850-7760 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.