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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 20 September 2010 07:02
USDCHF
USDCHF closed @ 10100 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 9975 holds and Daily Trend is Limited Down while 10325 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Bears gained towards the Close which signifies a Choppy session with some Weakness . The MA is suggesting a Choppy Session with a Limited Downside Bias and the Oscillators are giving Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a Potential to Turn Up Soon, 10055-9975 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10055 9985 9930 BEARS: 10160 10230 10300
Today's Strategies: LONG near 10055 9985 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9365 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bullish and the Price is Above the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 9295 holds and Daily Trend is also Sideways while 9180 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend is Bullish but is still trading in a Range which signifies a Choppy Session until the break . The MA is suggesting a Bullish Bias and the Oscillators are suggesting the same. The Hourly Trend has been just moving out of Range Trading and the Patterns are suggesting that the Bulls need to Crack the 9445-75 for further gains ,9325-9295 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that AUD is Strong against Five Crosses so the Bears may have to be Sidelined until 9325-9295 is regained.
BULLS: 9360 9325 9260 BEARS: 9445 9485 9530
Today's Strategies: LONG near 9360 9325 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10330 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways while 10235 holds and Daily Trend is also Sideways while 10515 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend is Bearish but Weakening and was within Prior few Day's Range but the Bulls gained towards the Close , which signifies a Choppy session with a potential to break Higher .The MA is suggesting a Choppy session and the Oscillators are suggesting Bullish . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break Higher,10280-35 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10265 10210 10165 BEARS: 10380 10430 10485
Today's Strategies: LONG @ the Break 10365 with a tight stop with a 50 pips price target.
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