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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Tuesday, 02 March 2010 06:46
USDCHF
USDCHF closed @ 10795 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at 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 Sideways while 10745 holds and Daily Trend is also Sideways while 10545 holds, so expect the price to be Choppy with a Upside bias. The Daily Trend was within prior few day's Range with the Bulls giving up some of the gains towards the close. The Hourly Trend has been in a Range Trading with an Upside Bias,10765-45 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the gradual Up Channel and the price patterns are suggesting higher highs are expected once 10870 gives way. The Opening price principles are mixed so Cautious approach is needed.
BULLS: 10765 10745 10680 BEARS: 10880 10925 10960
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 10825 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9010 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 9055 holds and Daily Trend is also Sideways while 9075 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's high and the Bulls closed above the high. The Hourly Trend has been in a Range Trading and expect a Choppy Session ,9055-75 are the critical levels to watch to maintain the bearish outlook . On the 5 min is along the gradual Up Channel and the price patterns are suggesting a reverse down soon is expected. The Opening price principles suggests that the high for AUD may have been seen for most of the Crosses so expect some Weakness but RBA has hiked interest Rate so Cautious approach is needed.
BULLS: 8925 8895 8840 BEARS: 9035 9085 9130
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
USDCAD
USDCAD closed @ 10415 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Weak and the price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Corrective Down while 10545 holds and Daily Trend is Sideways while 10305 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend plunged with the Bears holding their gains till the close. The Hourly Trend has been in a Range Trading with the Downside limited ,10485-10545 are the critical levels to watch to maintain the bearish outlook . On the 5 min is along the gradual Down Channel and the price patterns are suggesting the price may bottom soon. The Opening price principles are mixed so Cautious approach is needed.
BULLS: 10390 10315 10290 BEARS: 10465 10540 10585
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only