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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 08 March 2010 06:00
USDCHF
USDCHF closed @ 10745 which was BELOW 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 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 10800 holds and Daily Trend is Sideways while 10545 holds, so expect the price to make Lower Lows. The Daily Trend was within prior few day's Range with the Bears gaining towards the close. The Hourly Trend has been Creeping lower and expect the Bears to test the prior swing low of 10645 level, 10750-10800 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 lower lows are expected provided 10750-10800 holds. The Opening price principles suggests that CHF is Strong against at least four Crosses so it may be a Bears day.
BULLS: 10630 10585 10545 BEARS: 10775 10825 10875
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 10740 10800 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9075 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 10 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 Sideways Up while 9030 holds and Daily Trend is also Sideways Up while 8900 holds, so expect the price to make Higher Highs. The Daily Trend breached the prior day's high and the Bulls holding their gains towards the close. The Hourly Trend has been in a Range Trading with an Upside Bias ,9045-30 are the critical levels to watch to maintain the Bullish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting higher highs are expected provided 9030 holds. The Opening price principles are mixed so Cautious approach is needed until the break.
BULLS: 9065 9005 8945 BEARS: 9125 9185 9225
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG @ the Break 9125 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10295 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 5 pips from Precise Trader's Sup Tgt 1. 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 Sideways while 10345 holds and Daily Trend is Sideways Down while 10445 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's Low marginally and the Bears gave up towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,10325-45 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: 10230 10170 10135 BEARS: 10325 10395 10420
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only