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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 29 July 2010 06:18
USDCHF
USDCHF closed @ 10565 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 10 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Up while 10485 holds and Daily Trend is Turning Up while 10390 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range and the Bears were gaining towards the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 10515-10480 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. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10525 10460 10410 BEARS: 10605 10650 10705
Today's Strategies: LONG near 10515 10480 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 8930 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Turning Up while 8815 holds and Daily Trend is Limited Up while 8780 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 Plunged Below 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, 8975-95 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 with a Potential to Turn Up soon. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 8895 8845 8795 BEARS: 8985 9050 9125
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDCAD
USDCAD closed @ 10385 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Turning Up while 10285 holds and Daily Trend is Sideways while 10530 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 Day's Range but the Bulls gained towards the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias and the Bulls need to crack the 10400-15 levels for further gains,10335-10285 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 Turn Up soon. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10335 10295 10260 BEARS: 10405 10465 10515
Today's Strategies: Trade @ the Bulls Levels Only.
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