EURUSD
EURUSD closed @ 12900 which was ABOVE the open and breached the previous day’s high. The High was 20 pips from Precise Trader’s Res Zone 2 and the Low was PRECISELY at Precise Trader’s Sup Zone 1.
The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Limited Up while 12760 holds and Daily Trend is also Limited Up while 12445 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious.
The Daily Closed above the Open but mildly pulled away from the high. The Patterns are suggesting that the Bulls are due for a correction near 13030/13125 levels so Cautious approach is needed by having that as a target in the near term.
The Hourly suggests that a Range trading until the breakout and potential to reverse soon, the Bulls must protect the 12845/12760 levels at all times to support our bullish view.
The 15min is suggesting that the pullback should be limited to 12845-15 levels and the break of 12935 may lead to 13025 level.
The Opening Price Principle suggests that the 12815 level should be protected by the Bulls, so trade with the PT strategy when the Price breaks out of Zone 2 levels.
BULLS: 12875 12845 12800 BEARS: 12935 13010 13075
Today’s Strategies: LONG near 12875 12845 with a tight stop with a 50-80 pips price target.
