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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 27 August 2010 05:39
USDCHF
USDCHF closed @ 10240 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 10335 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 and the Bears were holding till the Close which signifies Choppy session with some Weakness . The Hourly Trend has been in a Range Trading with no clear direction, 10290-10335 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: 10220 10165 10100 BEARS: 10290 10345 10400
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 8860 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 8770 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 marginally but the Bulls gave up partially towards the Close which signifies Choppy Session with some mild Weakness in the First half of the Day . The Hourly Trend has been in a Range Trading with no clear Direction, 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 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: 8830 8775 8725 BEARS: 8900 8960 9020
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDCAD
USDCAD closed @ 10580 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 Hrly Level. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 10510 holds and Daily Trend is also Sideways while 10380 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior two Day's Range but the Bears gave up partially towards the Close which signifies a Choppy session with some Strength in the First half of the Day . The Hourly Trend has been in a Range Trading ,10530-10 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: 10565 10515 10460 BEARS: 10625 10675 10725
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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