[B][U]EURUSD[/U][/B]
EURUSD closed @ 14110 which was well above the open and broke out of the trading range. The Low was 20 pips shy of our Support Zone 1 and turned up. The Hourly Oscillators turning bearish and the price is well above the MA, so Cautious approach is needed for the bulls. Hourly Trend is Sideways Up while 14010 holds and Daily Trend is Sideways while 14260 holds, so expect the price to make higher highs but the upside may be limited. The Patterns are suggesting the price should not trade below 14010 to maintain our bullish outlook and we might have one more attempt of testing the high. Conservative traders should look to be Sidelined as the market is expected to turn down soon or strictly trade only at our levels. Aggressive traders look to SHORT near 14260 level if it is seen or look for updates.
[B][U]GBPUSD[/U][/B]
GBPUSD closed @ 16430 which was well above the open and breached the prior day’s high. The Low was 20 pips shy of our Support Zone 1 and turned up. The Hourly Oscillators are bullish but weak and price is well above the MA, so Cautious approach is needed for the bulls. Hourly Trend is Sideways Up while 16300 level holds and Daily Trend is Sideways Down while 16625 holds, so expect the price to make higher highs but the upside may be limited. The Patterns are creeping lower but should not trade below 16300 level to maintain the bullish out look 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 Cautiously near 16300 level with a tight Stop for a quick profit or remain Sidelined for a turn.
[B][U]USDJPY[/U][/B]
USDJPY closed @ 9425 which was above the open but within Long Trading 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 for the bulls. Hourly Trend is Sideways Up while 9340 holds and Daily Trend is also Sideways while 9550 holds, so expect the price to be choppy with an upside bias. The patterns have not formed but we believe the price would test the high one more time while 9340 level holds. Conservative traders should be Sidelined to look for better trading Signals or strictly trade only at our levels. Aggressive traders should look to LONG Cautiously near 9340 level with 9550 level in mind.