EURUSD

EURUSD closed @ 12530 which was ABOVE the open and breached the previous day’s high. The High was 5 pips from Precise Trader’s Res Zone 1 and the Low was 5 pips from Precise Trader’s Sup Zone 1.

The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 12390 holds and Daily Trend is Sideways while 12585 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious.

The Daily Closed above the Open and near the high and we believe that the Bulls are in control but approaching our price target. The Patterns are suggesting higher highs are expected but Cautious approach is needed.
The Hourly suggests that the Bulls may march towards a price target 12565/12615-75/12715 levels and must protect the 12475-30 levels at all times to support our bullish view.
The 15min is suggesting that we may be in wave 3 and we may get a pullback lower but may be limited to 12475-30 levels and the high is yet to be seen.
The Opening Price Principle suggests that while the 12385-35 levels are protected we may get an upward push, so trade with the PT strategy when the Price breaks out of Zone 2 levels.

BULLS: 12480 12430 12380 BEARS: 12565 12615 12675

Today’s Strategies: LONG near 12480 12430 with a tight stop with a 50-80 pips price target.

GBPUSD

GBPUSD closed @ 15880 which was ABOVE the open and breached the previous day’s high. The High was 20 pips from Precise Trader’s Res Tgt 2 and the Low was 15 pips from Precise Trader’s Sup Zone 1.
The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 15630 holds and Daily Trend is Sideways while 15975 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious.

The Daily Closed well above the Open and near the High. The Patterns are suggesting higher highs are expected but approaching our price target.
The Hourly looks like we may see the Bulls attempt for a price target of 15915-75/16035-75 levels and 15820/15745 levels should be protected to maintain our bullish view.
The 15min is suggesting that we may be in wave 3 or c which indicates that high is not seen yet but Cautious approach is needed and we may get a pullback lower. The Opening Price Principle suggests that the Bulls need to protect 15745-00 level, so trade with the PT strategy when the Price breaks out of Zone 2 levels.

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USDJPY

USDJPY closed @ 7860 which was BELOW the open and breached the previous day’s low. The High was 10 pips from Precise Trader’s Res Zone 1 and the Low was 5 pips from Precise Trader’s Sup Zone 1.

The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 7970 holds and Daily Trend is Sideways while 8175 holds, so expect the Price to be Choppy with a potential to Break Lower.

The Daily Closed well below the Open but mildly pulled away from the Low and we believe that the Bears may move to the previous swing low 7765 level. The Patterns are suggesting lower lows are expected.
The Hourly looks like it may have topped but the Bears must crack the 7790-60 levels and must protect the 7900-30 levels at all times.
The 15min is suggesting that we are in wave 3 and looks like it is not completed so more downward pressure is expected.
The Opening Price Principle suggests that 7960 is a key level to be protected and the breach of 7815 is needed for the Bears.

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