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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Tuesday, 24 August 2010 06:34
USDCHF
USDCHF closed @ 10410 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 10310 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 two Day's Range but the Bulls gained towards the Close which signifies some more Strength . The Hourly Trend has been in a Range Trading with an Upside Bias, 10360-10 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: 10375 10325 10260 BEARS: 10445 10485 10535
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 8915 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 10 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 8970 holds and Daily Trend is also Sideways while 9100 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 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 a Downside Bias but the Bears need to crack 8840 for further gains , 8945-70 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 are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 8850 8795 8745 BEARS: 8945 9000 9060
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDCAD
USDCAD closed @ 10520 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at 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 while 10445 holds and Daily Trend is Sideways Up while 10320 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day's High but the Bulls gained mildly towards the Close which signifies some more strength . The Hourly Trend has been in a Range Trading ,10470-45 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: 10505 10445 10375 BEARS: 10570 10645 10685
Today's Strategies: LONG near 10505 10445 with a tight stop with a 50 pips price target.
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