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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 01 September 2010 06:43
USDCHF
USDCHF closed @ 10150 which was BELOW the open and breached the previous day's low. The High was 25 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 but Weak and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 10235 holds and Daily Trend is also Limited Down while 10400 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend Plunged below the Prior Day's Open and the Bears were holding till the Close which signifies some Weakness but it is approaching Critical Levels . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 10200-35 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: 10140 10100 10035 BEARS: 10190 10235 10275
Today's Strategies: Trade @ the Bulls Levels Only.
AUDUSD
AUDUSD closed @ 8905 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 8885 holds and Daily Trend is Sideways while 9150 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached Below the Prior Day's Low but the Bears gave up partially towards the Close which signifies some Strength in the First half of the Day . The Hourly Trend has been in Marching higher but the Bulls need to crack 9030 for Further gains, 8900-8885 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the gradual Up Channel and the Patterns are suggesting Higher Highs but Cautious approach is needed. The Opening Price Principles suggests that AUD is Strong against all the Crosses so the Bears may have to be Sidelined until 8900-8885 is regained.
BULLS: 8945 8895 8850 BEARS: 9050 9085 9130
Today's Strategies: LONG near 8945 8900 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10655 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at 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 10570 holds and Daily Trend is Sideways while 10460 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend was within the Prior few Day's Range but the Bulls gained mildly towards the Close which signifies a Choppy trading with mild Weakness in the First half of the Day . The Hourly Trend has been in a Range Trading but the Bulls need to crack 10675 for further gains ,10605-10570 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 Lower. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10605 10560 10505 BEARS: 10685 10730 10810
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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