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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 18 March 2010 06:42
USDCHF
USDCHF closed @ 10540 which was UNCHANGED from the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish but Weak and the price is Below the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 10615 holds and Daily Trend is Sideways Down while 10705 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend breached the prior Day's Low but the Bears gave up to close Unchanged towards the close. The Hourly Trend has been in a Range Trading with no clear Direction , 10570-10615 are the critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the gradual Down Channel and the Patterns are suggesting a Choppy Session until the break. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 10500 10445 10415 BEARS: 10605 10665 10705
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
AUDUSD
AUDUSD closed @ 9235 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Tgt 1 and the Low was 15 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 9170 holds and Daily Trend is Sideways Up while 9070 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend Rallied above prior few day's high but the Bulls gave up mildly towards the close. The Hourly Trend has been in a Range Trading with a limited Upside Bias ,9190-70 are the critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the gradual Down Channel and the Patterns are suggesting Choppy Session with a potential to Turn Down soon. The Opening Price Principles are mixed so Cautious approach is needed until the break.
BULLS: 9175 9120 9065 BEARS: 9260 9305 9355
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 9260 9285 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10105 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Turning Bullish and the price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 10180 holds and Daily Trend is Sideways Down while 10325 holds, so expect the price to be Choppy and Downside may be limited. The Daily Trend made new Lows but the Bears gave up mildly towards the close . The Hourly Trend has been in a Range Trading with no Clear Direction ,10155-80 are the critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session until the break . The Opening Price Principles are mixed so Cautious approach is needed until the Break.
BULLS: 10075 10060 9980 BEARS: 10165 10205 10235
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only