EURUSD

EURUSD is trading above the daily open and above the prior week's high. The price is making higher highs and higher lows on the Hourly Chart and we believe it is the final push. The Price was shy of 5 pips from our U turn Zone and trading well above the Resistance zone 1 with the low being 15 pips shy of our Support Zone 1. The Hourly Oscillators are bullish but is rather weak and price is away from the MA, so the bulls have to be Cautious. The Candlestick on the two hour chart has formed a DOJI and the patterns on the 5 min chart are about to turn. The price is within the U turn Zone and being the beginning of the week Cautious approach is needed . There is lot of mixed Signals . Conservative traders should look to be Sidelined as the price is approaching the price target and the daily target Aggressive traders should be doing the same or Cautiously LONG on pullback near 14140 -14090 area with a tight Stop for a quick profit. The market may also be quiet unless US equities gives the direction for this market.

GBPUSD

GBPUSD is trading above the daily open and above the prior week's high. The price is making higher highs and higher lows on the Hourly Chart and we believe it is the final push. The Price has breached the U turn Zone and high was 15 pips shy of Resistance target 2 and trading well above the Resistance zone 1 with the low being 10 pips shy of our Support Zone 1. The Hourly Oscillators are bullish and price is moving away from the MA, so the bears have to be Sidelined. The patterns on the 5min chart are making higher peaks and higher valleys any pull back near 16435-16380 level will be good opportunity. Being the beginning of the week Cautious approach is needed but today might be a bulls day. Conservative traders should look to be Sidelined as the price is approaching the price target and the daily target Aggressive traders should be looking to LONG near 16435-16380 with a tight Stop for a quick profit. Do also expect a quiet US session.

USDJPY

USDJPY is trading above the daily open and marginally above the prior week's high. The price is moving Sideways on the Hourly Chart . The Price has breached the Resistance Zone 1 and trading just above the zone with the low being 20 pips shy of our Support Zone 1. The Hourly Oscillators are bullish but weak and price is moving away from the MA, so the bears have to be Sidelined. The patterns on the 5min chart are choppy .Being the beginning of the week Cautious approach is needed . Conservative traders should look to be Sidelined and Aggressive traders should also be doing the same. Do expect a quiet US session unless there is a big move form the US equities.