Forecast on USD Majors (EURUSD, GBPUSD, USDJPY)

[B][U]EURUSD[/U][/B]
EURUSD closed @ 13980 which was above the open but within prior day’s trading range. The price was holding precisely our hourly level @ 14000. The Hourly Oscillators bullish but weak and the price is testing the MA, so Cautious approach is needed. Hourly Trend is Sideways while 13895 holds and Daily Trend is also Sideways while 14205 holds, so expect the price to be choppy. The market is directionless, wait until the breakout happens. The Patterns are choppy but should not breach 13930-13880 level in order to maintain the bullish outlook. Conservative traders should look to be Sidelined until there is a clear signal or strictly trade only at our levels. Aggressive traders look to Long the break 14015 for a quick profit while 13930-13895 level holds.

[B][U]GBPUSD[/U][/B]
GBPUSD closed @ 16230 which was marginally above the open but within prior day’s trading range. The price was away 30 pips from our U turn Zone and turned. The Hourly Oscillators are bullish but weak and price is above the MA, so Cautious approach is needed. Hourly Trend is Sideways Up while 16140 level holds and Daily Trend is Sideways Down while 16505 holds, so expect the price to be choppy with an upside bias. The Patterns are choppy but pointing higher while 16195-16140 level holds. Conservative traders should be Sidelined or strictly trade only at our levels. Aggressive traders look to Long near 16195 level for a quick profit with a tight Stop.

[B][U]USDJPY[/U][/B]
USDJPY closed @ 9295 which was above the open but within prior day’s trading range. The Low was precisely was at our Support Target 1. The Hourly Oscillators are mixed and price is within the MA, so Cautious approach is needed. Hourly Trend is Sideways Up while 9220 holds and Daily Trend is Sideways while 9550 holds, so expect the price to be creeping higher. The patterns are quite choppy and is pointing higher while 9220 level holds. Conservative traders should be Sidelined or strictly trade only at our levels. Aggressive traders can turn Long on the break of 9325 level while 9270-9220 holds.