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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 21 October 2010 06:17
USDCHF
USDCHF closed @ 9620 which was BELOW the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways Up while 9575 holds and Daily Trend is Sideways while 9900 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range but the Bears gave up mildly towards the Close which signifies some Strength. The MA is suggesting a Choppy session and the Oscillators are Bearish but Weak. The Hourly Trend has been in a Range Trading with no Price Target and the Patterns suggesting a Choppy session until the break, 9590-75 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: 9585 9525 9485 BEARS: 9685 9745 9800
Today's Strategies: LONG near 9585 9525 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9870 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at 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 Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 9730 holds and Daily Trend is also Sideways while 9585 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend Rallied Above the Prior Day's Open and the Bulls were holding till the Close which signifies some more Strength. The MA is suggesting a Choppy session and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break, 9785-30 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.
USDCAD
USDCAD closed @ 10210 which was BELOW the open and was within prior day's trading range. The High was 10 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 MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Up while 10155 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 Plunged Below the Prior Day's Open and the Bears were holding till the Close which signifies a Choppy Session. The MA is suggesting a Choppy session with an Upside Bias and the Oscillators are Mixed. The Hourly Trend has been in a Range Trading and the Patterns are suggesting Higher Highs are expected , 10180-55 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.