Monday, July 19, 2010

Daily Expectations - Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)


Forex Special


EURUSD

EURUSD closed @ 12930 which was BELOW 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 Tgt 1.   The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS  approach is needed for the Bears. Hourly Trend is Limited Up while 12840 holds and Daily Trend is also Limited Up while 12550 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious.  The Daily Trend  breached above the Prior Day's High but  the Bears  gained mildly towards the Close . The  Hourly Trend  has been in a Range Trading with a Limited Upside Bias, 12870-40 are the Critical  levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting Choppy Session with a potential to test the Highs one last time. The Opening Price Principles  are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   12845   12775   12730       BEARS:   12975   13045   13125


Today's Strategies:  Trade @ the Bulls & Bears Levels Only.

               

GBPUSD

GBPUSD closed @ 15300 which was BELOW the open and was within prior day's trading range. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Zone 5 (U Turn Zone).   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 Sideways while 15400 holds and Daily Trend is Limited Up while 15095 holds, so expect the Price to be Choppy until the Breakout.  The  Daily  Trend Plunged below  the Prior Day's Open and  the Bears were holding their gains till the Close . The  Hourly Trend  has been in a Range Trading with a Limited Downside Bias , 15360-15400 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 test the Lows but may be limited. The Opening Price Principles are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   15245   15190   15095       BEARS:   15360   15400   15475


Today's Strategies:  Trade @ the Bulls & Bears Levels Only.

               

USDJPY

USDJPY closed @ 8655 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone).   The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS  approach is needed for the Bears. Hourly Trend is Limited Down while 8730 holds and Daily Trend is Sideways Down while 8875 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious.  The Daily  Trend Plunged below the Prior Day's Low but the Bears gave up mildly towards the Close . The  Hourly Trend  has been in a Range Trading with a Limited Downside Bias, 8700-30 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 the break. The Opening Price Principles  are Mixed , so  Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS:   8635   8540   8480       BEARS:   8725   8765   8810


Today's Strategies:  Trade @ the Bulls & Bears Levels Only.               

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