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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 23 August 2010 07:11
USDCHF
USDCHF closed @ 10340 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Hrly Level and the Low was PRECISELY at 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 Sideways while 10405 holds and Daily Trend is also Sideways while 10630 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gave up Partially towards the Close which signifies some mild Weakness in the First half of the day . The Hourly Trend has been in a Range Trading with no Clear Direction , 10370-10405 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: 10305 10205 10140 BEARS: 10405 10460 10505
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 8940 which was ABOVE 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 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Down while 8955 holds and Daily Trend is also Sideways Down while 9130 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low but the Bulls gained mildly towards the Close which signifies some mild Strength in the First half of the Day . The Hourly Trend has been in a Range Trading with a Downside Bias , 8955-85 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 break Lower. The Opening Price Principles suggests that AUD is Weak against Six Crosses so the Bulls may have to be Sidelined until 8955-85 is regained.
BULLS: 8840 8775 8710 BEARS: 8955 9015 9060
Today's Strategies: SHORT near 8955 8985 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10475 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 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 Sideways while 10435 holds and Daily Trend is Sideways Up while 10240 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies some mild Weakness in the First half of the day . The Hourly Trend has been in a Range Trading ,10425-10375 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: 10430 10350 10275 BEARS: 10515 10595 10645
Today's Strategies: LONG near 10435 10385 with a tight stop with a 50 pips price target.
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