Forex Journal

EURUSD

EURUSD closed @ 14395 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 30 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 Turning Down while 14545 holds and Daily Trend is Sideways Down while 14740 holds, so expect the Price  to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger.  The  Daily time frame ,the Price is  mildly above  the MA's , the Bulls gained  towards the close. The Patterns are suggesting that the Bulls are approaching the price target. The Hourly  time frame, the Price is well above the MA's  and  the Oscillators are suggesting a limited upside bias  . The Patterns are suggesting  higher highs are expected but may be limited . The 15min time frame, suggesting higher highs  are expected but the Bulls may struggle near 14485/14525 levels , 14340-15  are the Critical  levels to watch to maintain the Bullish Outlook. The Opening Price Principles  are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels and High-Low time does not gives us good signals.

BULLS:   14375   14325   14265       BEARS:   14445   14485   14525

Today's Strategies:  SHORT near   14485   14525   with a tight stop with a 35-50 pips price target.      

 

GBPUSD

GBPUSD closed @ 16445 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Tgt 1.   The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 16535 holds and Daily Trend is Sideways Down while 16650 holds, so expect the Price to be Choppy until the Breakout.  The  Daily time frame ,the Price is above  the MA's , the Bears gained towards the close. The Patterns are suggesting a range trading until the break . The Hourly  time frame, the   Price is within the  MA's  and  the Oscillators are suggesting a downside  bias. The Patterns are suggesting range trading until the break. The 15min time frame, suggesting a choppy session until the break, 16385-45 are the Critical  levels to watch to maintain the Bullish Outlook. The Opening Price Principles  are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels and High-Low time does not gives us good signals.

BULLS & BEARS :  Get the full report by visiting Precise Trader for a Free Trial.

Today's Strategies:   Get the full report by visiting Precise Trader for a Free Trial.

 

USDJPY

USDJPY closed @ 8150 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 PRECISELY at Precise Trader's Sup Zone 1.   The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS  approach is needed. Hourly Trend is Sideways while 8070 holds and Daily Trend is Sideways Down while 8415 holds, so expect the Price to be Choppy until the Breakout.  The  Daily time frame ,the Price is within the MA's , the  Bulls gained but gave up mildly  towards the Close but within range. The Patterns are suggesting a Range trading until the break  . The Hourly  time frame, the   Price is within the MA's  and  the Oscillators are suggesting a mixed signals. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break, 8105/8070 are the Critical  levels to watch to maintain the Bullish Outlook. The Opening Price Principles  are Mixed , so Cautious approach is needed until the Price breaks out of Zone 2 levels and High-Low time does not give us good signals.

BULLS & BEARS :  Get the full report by visiting Precise Trader for a Free Trial.

Today's Strategies:   Get the full report by visiting Precise Trader for a Free Trial.