Members login
Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 05 March 2010 06:42
USDCHF
USDCHF closed @ 10770 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Within the MA, so the Bears have to be sidelined. Hourly Trend is Sideways Up while 10650 holds and Daily Trend is 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 gaining towards the close. The Hourly Trend has been in a Range Trading with an Upside Bias,10710-10630 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 provided 10710-10665 holds. The Opening price principles are mixed so Cautious approach is needed until the Break.
BULLS: 10720 10665 10605 BEARS: 10820 10875 10935
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 10720 10665 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9000 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Weak and the price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 9095 holds and Daily Trend is also Sideways while 8860 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's low and the Bears gave up marginally towards the close. The Hourly Trend has been in a Range Trading with a Downside Bias ,9045-95 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 a Choppy Session with a potential to break lower. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 8970 8935 8885 BEARS: 9045 9095 9120
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT @ the Break 8970 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10320 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. 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 10510 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior day's Low marginally and closed unchanged 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 Horizontal Channel and the price patterns are suggesting a Choppy Session until the break . 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