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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 04 March 2010 06:21
USDCHF
USDCHF closed @ 10680 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 PRECISELY at 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 while 10780 holds and Daily Trend is also Sideways while 10545 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior few day's low with the Bears giving up mildly towards the close. The Hourly Trend has been in a Range Trading with the limited Downside Bias,10730-80 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting lower lows are expected but may be limited. The Opening price principles are mixed so Cautious approach is needed until the Break.
BULLS: 10645 10590 10555 BEARS: 10730 10780 10810
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
AUDUSD
AUDUSD closed @ 9060 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 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 Sideways Down while 9105 holds and Daily Trend is Sideways while 8860 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's high and the Bulls gave up most of the gains towards the close. The Hourly Trend has been creeping lower and expect it to continue in this direction ,9065-85 are the critical levels to watch to maintain the Bearish outlook . On the 5 min is along the Down Channel and the price patterns are suggesting lower lows are expected once 9015 gives way. The Opening price principles suggests that AUD is Weak against most Crosses so the Bulls have to be Sidelined and expect the price to close near the lows.
BULLS: 8995 8960 8920 BEARS: 9075 9090 9120
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 9065 9090 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10320 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 15 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 while 10385 holds and Daily Trend is Sideways Down while 10460 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior day's Low and the Bears giving up mildly towards the close. The Hourly Trend has been in a Range Trading with a limited Downside Bias ,10370-85 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 limited Lower Lows . The Opening price principles are mixed so Cautious approach is needed until the Break.
BULLS: 10260 10220 10180 BEARS: 10385 10445 10480
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only