[B][U]EURUSD[/U][/B]
EURUSD closed @ 14020 which was well above the open. The price as suggested held precisely at our Support Zone 1 level and turned up. The Hourly Oscillators turning bearish and the price is testing the MA, so Cautious approach is needed. Hourly Trend is Sideways UP while 13895 holds and Daily Trend is Sideways while 14205 holds, so expect the price to test the high one more time while 13895 level holds. The Patterns are suggesting that the current pull back should not go beyond 13940-13895 level in order to maintain the bullish outlook. Conservative traders should look to Long near 13895 level for a quick profit with a tight stop or strictly trade only at our levels. While Aggressive traders can wait for the next big turn.
[B][U]GBPUSD[/U][/B]
GBPUSD closed @ 16340 which was well above the open. The price held at 15 pips away from our Support Zone 1 and turned up. The Hourly Oscillators are bullish but weak and price is above the MA , so Cautious approach is needed for the bulls. Hourly Trend is Sideways UP while 16205 holds and Daily Trend is Sideways Down while 16580 holds, so expect the price to make higher highs while 16205 level holds. The Patterns are suggesting any pull back is temporary and in order to maintain our bullish outlook the price should not trade below 16260- 16205 level. Conservative traders should look to Long near 16205 level or breaching of 16380 while 16025 level holds for a quick profit or strictly trade only at our levels. While Aggressive traders can turn long on breaching of 16380 level for fast trade.
[B][U]USDJPY [/U][/B]
USDJPY closed @ 9300 which was unchanged from previous close. The High and Low was 30 pips away from our Resistance Zone 1 and Support Zone 1. The Hourly Oscillators are mixed and price is below the MA, so Cautious approach is needed. Hourly Trend is Sideways while 9490 holds and Daily Trend is Sideways Down while 9585 holds, so expect the price to be choppy with a downside bias. The patterns are quite choppy but it has potential to test the lows again while 9365 level holds. Conservative traders wait for better entry levels or strictly trade only at our levels. While Aggressive traders can also wait for better entry levels.