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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 22 September 2010 06:18
USDCHF
USDCHF closed @ 9965 which was BELOW the open and breached the previous day's low. 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 Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 10095 holds and Daily Trend is Limited Down while 10325 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low and the Bears were holding till the Close which signifies some more Weakness . The MA is suggesting a Bearish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Downside Bias and Price Target of 9885 -35/9760 and the Patterns are suggesting that the Bears may Struggle near 9930-20 levels, 10020-95 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 9930 9885 9835 BEARS: 10025 10080 10150
Today's Strategies: Trade @ the Bears Levels Only.
AUDUSD
AUDUSD closed @ 9550 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Overbought and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 9445 holds and Daily Trend is Sideways Up while 9285 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend Rallied Above the Prior Day's High and the Bulls were holding till the Close which signifies some more Strength . The MA is suggesting a Bullish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target 9680/ 9730 and the Patterns are suggesting that the Bulls may surrender near 9635-85 levels, 9505-9445 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: 9505 9445 9405 BEARS: 9600 9645 9730
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
USDCAD
USDCAD closed @ 10270 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 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 10350 holds and Daily Trend is also Sideways while 10515 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within a Range Trading and the Price Closed nearly Unchanged towards the Close which signifies a Choppy session until the break . The MA is suggesting a Bearish Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with a Price Target 10185-05 levels and the Patterns are suggesting that the Bears may Struggle near 10215 level, 10320-50 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10185 10140 10100 BEARS: 10305 10350 10425
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
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