EURUSD

EURUSD closed @ 14905 which was ABOVE the open and was within prior day's trading range. The High was 25 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at 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 Sideways Up while 14845 holds and Daily Trend is Sideways while 14720 holds, so expect the price  to make Higher Highs.  The Price  closed  above the Res  Zone 1  and  the  bulls  were  strong  gave up mildly  towards the close .The  Hourly Trend  is range trading with an Upside bias but expect the bulls to struggle at 15000-65 levels, 14875-45 are the critical  levels to watch to maintain  the bullish outlook .  On the 5 min is choppy but along the Up Channel  and  the price patterns are suggesting higher while 14905 is not breached. Fed Chairman Bernanke speaks today.

BULLS:   14920   14870   14825       BEARS:   15000   15045   15120 

Conservative Traders:  LONG near   14870   14825   with a tight stop with a 50 pips price target.       

Aggressive Traders :  LONG near   14910   14870   with a tight stop and   15000-45   price targets. 

GBPUSD

GBPUSD closed @ 16680 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 25 pips from Precise Trader's Sup Zone 1.   The Hourly Oscillators are Bullish but Weak and the price is Above the MA, so CAUTIOUS  approach is needed for the Bulls. Hourly Trend is Sideways Up while 16580 holds and Daily Trend is Sideways while 16390 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  with an Upside bias but expect the bulls to struggle near the 16775- 16845 levels, 16640-16580 are the critical  levels to watch to maintain  the bullish outlook .  On the 5 min is choppy but along the Up  Channel  and  the price patterns are suggesting  higher while 16640 is not breached and  16740 gives way. Fed Chairman Bernanke speaks today.

BULLS:   16655   16605          BEARS:   16755   16805   16905 

Conservative Traders:  LONG near   16640   16605   with a tight stop with a 50 pips price target.       

Aggressive Traders :  LONG @ the Break      16740   with a tight stop with a 50 pips price target.       

USDJPY

USDJPY closed @ 8965 which was BELOW the open and was within prior day's trading range.  The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Hrly Level.   The Hourly Oscillators are Bearish and the price is Within the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways while 9065 holds and Daily Trend is also Sideways while 9185 holds, so expect the price  to be Choppy until the breakout happens.  The  Price closed below the Sup  Zone 1 and  the bears were  holding their gains  towards the close .The  Hourly Trend is in a  Range trading expect a  choppy session until the breakout happens , 9005-65   are the critical  levels to watch to maintain  the bearish outlook .  On the 5 min is choppy but along the gradual  Down Channel  and  the price patterns are suggesting no clear direction in the near future . Fed Chairman Bernanke speaks today.

BULLS:   8915   8815          BEARS:   9005   9065    

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

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