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Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)

Fri, Nov 13 2009, 06:43 GMT
by Rajoo C

Precise Trader  |  View company's profile


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Daily Reports (Trends, Precise Entry & Exit levels and Strategies) on 11 Crosses (USD Majors, USD Minors & JPY Crosses) and Spot Gold.
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EURUSD

EURUSD closed @ 14850 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 3.   The Hourly Oscillators are Bearish and the price is Below the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways Down while 14975 holds and Daily Trend is Sideways while 14625 holds, so expect the price  to make Lower Lows.  The Price  closed  near the Sup U Turn  Zone 5  and  the  bears were  strong and holding their gains towards the close .The  Hourly Trend  has turned down and lower lows are expected, 14935-75 are the critical  levels to watch to maintain  the bearish outlook .  On the 5 min is choppy but along the Down  Channel  and  the price patterns are suggesting lower and the upside should be limited to 14910-50 levels.

BULLS:   14820   14790   14720       BEARS:   14935   14950   14980 

Conservative Traders:  SHORT near   14910   14935   with a tight stop with a 50 pips price target.       

Aggressive Traders :  SHORT near   14885   14935   with a tight stop and   14820-790   price targets. 

GBPUSD

GBPUSD closed @ 16580 which was ABOVE 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 MIXED and the price is Within the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 16680 holds and Daily Trend is also Sideways while 16330 holds, so expect the price to be Choppy and Upside may be limited.  The  Price closed  within  Zone 1 and  the bulls and  bears were Flat  towards the close .The  Hourly Trend is in a  Range trading  but we believe the upside should be limited, 16640-80 are the critical  levels to watch to maintain  the bearish outlook .  On the 5 min is choppy but along the Horizontal  Channel  and  the price patterns are suggesting  no clear direction but the upside should be limited.

BULLS:   16515   16445          BEARS:   16660   16785    

Conservative Traders:  SIDELINED or strictly trade only at Precise Trader's Report Levels.                

Aggressive Traders :  SHORT near   16640   16680   with a tight stop with a 50 pips price target.       

USDJPY

USDJPY closed @ 9035 which was ABOVE the open and breached the previous day's high.  The High was 10 pips from Precise Trader's Hrly Level and the Low was 5 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 Sideways while 8930 holds and Daily Trend is also Sideways while 9185 holds, so expect the price  to be Choppy with a Upside bias.   The  Price closed above the Res  Zone 1 and  the bulls  holding their gains  towards the close .The  Hourly Trend is in a  Range trading expect a  choppy session with a potential to breakout higher , 8955-30  are the critical  levels to watch to maintain  the bullish outlook .  On the 5 min is choppy but along the gradual Up  Channel  and  the price patterns are suggesting higher .

BULLS:   8990   8945          BEARS:   9075   9160    

Conservative Traders:  SIDELINED or strictly trade only at Precise Trader's Report Levels.                

Aggressive Traders :  LONG near   8990   8940   with a tight stop with a 50 pips price target.       

Published on  Fri, Nov 13 2009, 06:45 GMT


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