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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 20 October 2010 06:30
USDCHF
USDCHF closed @ 9715 which was ABOVE the open and breached the previous day's high. The High was 10 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 but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways Up while 9595 holds and Daily Trend is Sideways while 9940 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies some Weakness. The MA is suggesting a Choppy session with an Upside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns suggesting Higher Highs are expected, 9625-9595 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 2 levels.
BULLS: 9630 9585 9540 BEARS: 9760 9825 9875
Today's Strategies: LONG near 9630 9585 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9685 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 40 pips from Precise Trader's Sup Zone 10. 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 Sideways Down while 9825 holds and Daily Trend is Sideways while 9510 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend plunged Below the Prior few Day's Low and the Bears were holding till the Close which signifies some more Weakness. The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Bearish but Weak. The Hourly Trend has been in a Range Trading and the Patterns are suggesting Lower lows are expected , 9765/9825 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 2 levels.
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Today's Strategies: Get the full report by visiting www.precisetrader.com for a Free Trial.
USDCAD
USDCAD closed @ 10335 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Critical Res and the Low was 10 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 Up while 10205 holds and Daily Trend is Turning Up while 9975 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend Rallied Above the Prior Day's High but the Bulls gave up mildly towards the Close which signifies some Weakness during Asian Session . The MA is suggesting an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading and the Patterns are suggesting Higher Highs are expected , 10275-05 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 2 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.