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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 30 August 2010 07:04
USDCHF
USDCHF closed @ 10280 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Up while 10200 holds and Daily Trend is Sideways while 10560 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 was within the Prior Day's Range but the Bulls gained mildly towards the Close which signifies Choppy session with some Strength in the First half of the Day . The Hourly Trend has been in a Range Trading with an Upside Bias, 10230-00 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: 10255 10205 10150 BEARS: 10350 10400 10460
Today's Strategies: LONG near 10255 10205 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 8985 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 3 and the Low was 5 pips from 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 8940 holds and Daily Trend is also Sideways while 9150 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend Rallied above the Prior Day's High and the Bulls were holding till the Close which signifies some Strength in the First half of the Day . The Hourly Trend has been in a Range Trading with an Upside Bias, 8955-40 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 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: 8950 8905 8860 BEARS: 9045 9100 9150
Today's Strategies: LONG near 8950 8905 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10510 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 10560 holds and Daily Trend is also Sideways while 10360 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 aggressively towards the Close which signifies some more Weakness in the First half of the Day . The Hourly Trend has been in a Range Trading ,10530-60 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: 10430 10375 10325 BEARS: 10550 10610 10660
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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