Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)
EURUSD closed @ 12880 which was BELOW the open and was within prior day’s trading range. The High was 15 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 but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 13025 holds and Daily Trend is Limited Up while 12645 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend breached the Prior Day’s High marginally but the Bears gained aggressively towards the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 12915-13025 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting Choppy Session until there is a Clear Break. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 12830 12800 12745 BEARS: 12915 12960 13025
Today’s Strategies: Trade @ the Bulls & Bears Levels Only.
GBPUSD closed @ 15265 which was ABOVE the open and was within prior day’s trading range. The High was 15 pips from Precise Trader’s Res Tgt 1 and the Low was 5 pips from Precise Trader’s Dly Level. 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 Sideways while 15350 holds and Daily Trend is Limited Up while 15045 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day’s Low but the Bulls gained mildly towards the Close . The Hourly Trend has been in a Range Trading with no Clear Direction , 15325-50 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy session until there is a Clear Break. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 15215 15145 15085 BEARS: 15315 15355 15415
Today’s Strategies: Trade @ the Bulls & Bears Levels Only.
USDJPY closed @ 8750 which was ABOVE the open and breached the previous day’s high. The High was PRECISELY at Precise Trader’s Hrly Level and the Low was 15 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 8810 holds and Daily Trend is Limited Down while 8910 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 Trend was within the Prior two Day’s Range but the Bulls gained aggressively towards the Close . The Hourly Trend has been in a Range Trading with a Limited Upside Bias, 8795-8810 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session with a Potential to Turn Down Soon. The Opening Price Principles suggests that JPY is mildly Strong against all the Crosses so the Bears may gain so the Bulls have to be Cautious.
BULLS: 8690 8625 8550 BEARS: 8765 8805 8845
Today’s Strategies: SHORT near 8765 8795 with a tight stop with a 50 pips price target.
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