[B][U]EURUSD[/U][/B]
EURUSD closed @ 13970 which was marginally below the open but within prior day’s trading range. The price was holding precisely our Zone 1 level. The Hourly Oscillators turning bullish but weak and the price has just crossed 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 13940-13895 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 do the same as this market has been very quiet.
[B][U]GBPUSD[/U][/B]
GBPUSD closed @ 16315 which was above the open but within prior two day’s trading range. The Low was away 25 pips from Support Zone 1. The Hourly Oscillators are bullish but weak and price is above the MA, so Cautious approach is needed. Hourly Trend is Sideways while 16195 level holds and Daily Trend is Sideways Down while 16505 holds, so expect the price to be choppy with the upside limited. The Patterns are choppy but pointing higher while 16280-16195 level holds and the upside may be limited. Conservative traders should be Sidelined as approaching the price target or strictly trade only at our levels. Aggressive traders look to Long when 16355 gives way while 16280 level holds with a tight Stop for a quick profit.
[B][U]USDJPY[/U][/B]
USDJPY closed @ 9350 which was above the open but within prior three day’s trading range. The Low was precisely was at our Support Zone 1. The Hourly Oscillators are bullish but weak and price is above the MA, so Cautious approach is needed. Hourly Trend is Sideways while 9265 holds and Daily Trend is also Sideways while 9550 holds, so expect the price to be choppy with an upside bias. The patterns are quite choppy and within a Long Range Candle on a Hourly chart, the price is expected to be in this manner until it breaks out from the range. Conservative traders should be Sidelined or strictly trade only at our levels. Aggressive traders do the same until the breakout happens.