Monday, 26 October 2009

Level to maintain

EURUSD closed @ 14085 which was BELOW the open and breached the previous day's low. The High was 30 pips from Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Down while 14230 holds and Daily Trend is also Sideways Down while 14450 holds, so expect the price to be Choppy with a Downside bias. The Price Patterns on the Hourly is creeping higher but the upside is limited and expect the price to break the prior low @ 14005 , on the 5 min is along the Channel but the upside should be capped to 14170-14230 level to maintain a bearish outlook. Conservative traders should look to SHORT on pull back near 14170-14230 level or strictly trade only at Precise Traders Report levels. Aggressive traders look to do the same with 14005-13965 levels having in mind for potential profit targets.

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