Forecast: Long On EUR/USD

EUR/USD closed at 13100 which was above the open and breached the previous day's high. The High was 25 pips from Precise Trader's Res Zone 2 and the Low was 20 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 Sideways while 12985 holds and Daily Trend is also Sideways while 12745 holds, so expect the Price to be Choppy until the Breakout.

The Daily Closed > R1 ,it has a Hourly potential target 13200-50/13360 levels but the break of 13145 is critical and 12880-12790 are the Bullish Violation Zone . The Patterns are suggesting that the Bulls may creep higher but cautious approach is needed . The 15min is in a Range , but the downside is supported and has a target of 13145/13200-45 levels . The Bullish Violation Zone is 12990-13045 levels and the PT Anchor Low/ High is 13065-13115 levels, GER and EU Unemployment Rate, US Consumer Confidence are the important data for today

Bulls: 13065 13025 12985 Bears: 13145 13200 13245

Today's Strategies: LONG near 13065, 13045 with a tight stop with a 35-50 pips price target.


GBP/USD

GBP/USD closed at 15500 which was above the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1.

The Hourly Oscillators are mixed and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 15345 holds and Daily Trend is Limited Up while 15035 holds, so expect the Price to be Choppy until the Breakout.

The Daily Closed < R1 ,it has a Hourly potential target 15560/15625-60 levels but the break of 15515-45 is critical and 15285-25 are the Bullish Violation Zone . The Patterns are suggesting that the downside is limited and the Bulls may creep higher but cautious approach is needed. The 15min is in a Range , but the downside is supported and has a target of 15475-15 levels . The Bullish Violation Zone is 15285-45 levels and the PT Anchor Low/ High is 15450-15515 levels, US Consumer Confidence are the important data for today

USD/JPY

USD/JPY closed at 9775 which was below the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Zone 2.

The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 9900 holds and Daily Trend is Turning Down while 9995 holds, so expect the Price to be Choppy until the Breakout.
The Daily Closed at S1 ,it has a Hourly potential target 9665-10/9580 levels but the break of 9735 is critical and 9845-9975 are the Bearish Violation Zone .

The Patterns are suggesting a Range with a potential downside breakout and the Bears may creep lower but cautious approach is needed. The 15min is in a Range , but the upside is protected and has a target of 9735-9655 levels . The Bearish Violation Zone is 9900-50 levels and the PT Anchor Low/ High is 9765-9820 levels, US Consumer Confidence are the important data for today.