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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 25 August 2010 06:34
USDCHF
USDCHF closed @ 10330 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 PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 10380 holds and Daily Trend is also Sideways while 10560 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior few Day's Range but the Bears gained towards the Close which signifies some more Weakness . The Hourly Trend has been in a Range Trading with a Downside Bias, 10360-80 are the Critical levels to watch to maintain the Bearish Outlook but the Bears need to crack the 10280-60 levels for further gains . 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 10180 10100 BEARS: 10360 10435 10515
Today's Strategies: Trade @ the Bears Levels Only.
AUDUSD
AUDUSD closed @ 8815 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 Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 8770 holds and Daily Trend is Sideways while 9100 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 Open but the Bears gave up 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 an Upside Bias but the Bulls need to crack 8875 for further gains , 8790-70 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 suggests that AUD is Strong against Three Crosses so the Bulls have to be cautious.
BULLS: 8815 8750 8700 BEARS: 8875 8935 8975
Today's Strategies: Trade @ the Bulls Levels Only.
USDCAD
USDCAD closed @ 10615 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Zone 5 (U Turn Zone) 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 Limited Up while 10540 holds and Daily Trend is Sideways Up while 10360 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend Rallied Above the Prior Day's High but the Bulls gave up mildly towards the Close which signifies some Weakness in the First half of the Day . The Hourly Trend has been in a Range Trading ,10565-40 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: 10550 10500 10445 BEARS: 10650 10705 10745
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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