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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 26 August 2010 07:17
USDCHF
USDCHF closed @ 10305 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 15 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 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 breached the Prior few Day's Range marginally but the Bears gave up mildly towards the Close which signifies Choppy session until the break . The Hourly Trend has been in a Range Trading with no clear direction, 10355-80 are the Critical levels to watch to maintain the Bearish Outlook but the Bears need to crack the 10255-40 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: 10230 10180 10150 BEARS: 10330 10385 10430
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 8840 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Hrly Level. 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 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 breached the Prior Day's Low marginally 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 an Upside Bias but the Bulls need to crack 8885-8900 for further gains , 8815-8770 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: 8805 8750 8700 BEARS: 8885 8915 8965
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDCAD
USDCAD closed @ 10595 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 Zone 1. 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 Limited Up while 10540 holds and Daily Trend is Sideways while 10380 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend was within the Prior Day's Range but the Bears gained mildly towards the Close which signifies a Choppy session with 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: 10565 10525 10470 BEARS: 10625 10675 10725
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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