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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 23 September 2010 06:35
USDCHF
USDCHF closed @ 9860 which was BELOW the open and breached the previous day's low. The High was 5 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 Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 9960 holds and Daily Trend is Sideways Down while 10175 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 Low and the Bears gave up mildly towards the Close which signifies some Strength . The MA is suggesting a Bearish Bias and the Oscillators are suggesting the Same but may Weaken. The Hourly Trend has been in a Range Trading with a Downside Bias and Price Target of 9835/9740 and the Patterns are suggesting that the Bears may Struggle near 9770-40 levels, 9905-60 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: 9785 9730 9660 BEARS: 9930 9985 10030
Today's Strategies: Trade @ the Bears Levels Only.
AUDUSD
AUDUSD closed @ 9570 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 9465 holds and Daily Trend is Sideways Up while 9360 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies a Choppy session with some Weakness . The MA is suggesting a Bullish Bias and the Oscillators are suggesting Mixed Signals. The Hourly Trend has been in a Range Trading with a Price Target 9620-80/9760 and the Patterns are suggesting a Choppy session until there is a Clear Break, 9525-9465 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 & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.
USDCAD
USDCAD closed @ 10310 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was 20 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 10430 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 Bulls gained partially towards the Close which signifies a Choppy session until the break . The MA is suggesting a Mixed Bias and the Oscillators are suggesting the Same. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns are suggesting Choppy session until the break, 10360-10430 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 & BEARS : Get the full report by visiting www.precisetrader.com for a Free Trial.
Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.