Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)

EURUSD

EURUSD closed @ 12310 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 12210 holds and Daily Trend is also Sideways Up while 12090 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's Low but the Bulls gained marginally towards the Close . The Hourly Trend has been in a Range Trading with an Upside Bias, 12280-10 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 a Choppy session with a potential to break Higher but Cautious approach is needed. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS: 12290 12220 12150 BEARS: 12375 12430 12495

Today's Strategies: LONG near 12290 12260 with a tight stop with a 50 pips price target.

GBPUSD

GBPUSD closed @ 14960 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from 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 Limited Up while 14875 holds and Daily Trend is Sideways Up while 14655 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend Rallied above the Prior Day's High and the Bulls were holding their gains till the Close . The Hourly Trend has been in a Range Trading with a Limited Upside Bias , 14925-14875 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 a Choppy session with a potential to turn down near 15090-15160 levels . The Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.

BULLS: 14935 14865 14810 BEARS: 15015 15085 15150

Today's Strategies: LONG near 14930 14885 with a tight stop with a 50 pips price target.

USDJPY

USDJPY closed @ 8980 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 9060 holds and Daily Trend is Sideways Down while 9210 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 Low and the Bears were holding their gains till the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 9025-60 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: 8950 8895 8835 BEARS: 9020 9075 9145