Members login
Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
Written by article default Monday, 01 August 2011 07:09
EURUSD
EURUSD closed @ 14395 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 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 14245 holds and Daily Trend is also Sideways while 13985 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 indicates a choppy session . 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 downside bias but it is Weak . The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session but the break of 14430 is needed for the Bulls,14340/14245 are the Critical levels to watch to maintain the Bullish Outlook. The High/ Low for the Week may be limited to 14725-14825/ 14295-14105 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: 14325 14285 14230 BEARS: 14425 14465 14515
Today's Strategies: LONG @ the Break 14425 with a tight stop with a 35-50 pips price target.
GBPUSD
GBPUSD closed @ 16425 which was ABOVE the open and breached the previous day's high. The High was 25 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 16340 holds and Daily Trend is Sideways Up while 16120 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is above the MA's and pointing up, the Bulls gained towards the close but was within range trading which signifies a choppy session . 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 but beginning to gain strength. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting the break of 16485 is needed for the Bulls, 16365-40 are the Critical levels to watch to maintain the Bullish Outlook. The High/ Low for the Week may be limited to 16545-16745/ 16345-16200 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 @ 7675 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Turning Bullish and the Price is Mildly Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Limited Down while 7880 holds and Daily Trend is also Limited Down while 7960 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is below the MA's and pointing down, the Bears gained towards the close but trading at significant levels 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 below the MA's and pointing down, the Oscillators are suggesting an upside bias . The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break, 7805-80 are the Critical levels to watch to maintain the Bearish Outlook. The High/ Low for the Week may be limited to 8025-95/ 7670-25 levels. The Opening Price Principles suggesting that JPY is weak against four crosses but Cautious approach is needed 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.