EURUSD  

EURUSD as expected had a quiet session and closed @ 13945 which was above the open and within prior day's trading range. ECB President Speaks today.   The Hourly Oscillators are turning bearish, so cautious approach is needed for the bulls. Hourly Trend is Sideways and Daily Trend is also Sideways, so expect the price to be choppy. Even the weekly trend is Sideways, and we believe you can get a clear direction after the FOMC rate announcement on Wednesday.  The Patterns are quite noisy but suggesting that once 13885 gives way expect the price to reach at least 13800 or even 13750 level.  We prefer to be Cautiously Short while 13980 level holds or strictly trade only at our levels.

GBPUSD  

GBPUSD had wild swings again, it even went past our hourly level, and closed @ 16500 which was above the open.  The Hourly Oscillators are bullish but weak, so cautious approach is needed. Hourly Trend is Sideways and Daily Trend is also Sideways, so expect the price to be choppy. Even the weekly trend is Sideways, and we believe you can get a clear direction after the FOMC rate announcement on Wednesday.  The Patterns are quite noisy but suggesting that once 16445 gives way and 16565 holds expect the price to creep lower.  We prefer to be Cautiously Short while 16565 level holds for a fast trade or strictly trade only at our levels.

USDJPY  

USDJPY breached the prior day's high but gave up towards the end and closed @ 9630 which was below the open.  The Hourly Oscillators are bearish, so the bulls have to be Sidelined. Hourly Trend is Sideways Down and Daily Trend is Sideways, so expect the price to make lower lows but 9550 is the immediate barrier. Even the weekly trend is Sideways, and we believe you can get a clear direction after the FOMC rate announcement.  The patterns are noisy but suggesting while 9660 level holds and 9550 level gives way expect the price to creep lower, but expect a rough ride.  We prefer to be Sidelined as it is approaching the price target or trade strictly only at our levels.