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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Tuesday, 27 July 2010 06:39
USDCHF
USDCHF closed @ 10485 which was BELOW 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 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 Turning Up while 10420 holds and Daily Trend is Limited Down while 10710 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend was within the Prior few Day's Range but Bears gained towards the Close . The Hourly Trend has been in a Range Trading with an Upside Bias but the Bulls need to crack the 10535-65 levels for further gains, 10435-20 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy session until there is a Clear Break. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10445 10390 10320 BEARS: 10565 10675 10720
Today's Strategies: Trade @ the Bulls Levels Only.
AUDUSD
AUDUSD closed @ 9025 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Turning Down while 9145 holds and Daily Trend is Limited Up while 8840 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend breached the Prior Day's High and the Bulls were holding till the Close . The Hourly Trend has been in a Range Trading with a Limited Upside Bias, 8980-25 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy Session with a potential to break higher one last time to test the Highs. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 8970 8925 8845 BEARS: 9075 9105 9145
Today's Strategies: SHORT near 9120 9145 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10325 which was BELOW the open and breached the previous day's low. The High was PRECISELY at 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 10390 holds and Daily Trend is also Sideways while 10530 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day's Low and the Bears were holding till the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias and the Bears need to crack the 10295-70 levels for further gains,10375-90 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 there is a clear break. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10260 10215 10175 BEARS: 10400 10485 10550
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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