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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 25 October 2010 06:43
USDCHF
USDCHF closed @ 9770 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Up while 9650 holds and Daily Trend is Turning Up while 9460 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 a Limited Downside Bias and the Oscillators are Turning Bearish. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns suggesting a Choppy session with a Limited Downside Bias, 9710-9650 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: 9710 9650 9605 BEARS: 9815 9865 9925
Today's Strategies: LONG near 9650 9605 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9820 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 15 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 9800 holds and Daily Trend is Sideways while 9615 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 Bulls gained towards the Close which signifies some more Strength. The MA is suggesting an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been Marching Higher with 9920-75/10045 as Price Targets and the Patterns are suggesting Higher Highs are expected, 9800-9775 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that AUD is Strong against most Crosses so the Bears may have to be Sidelined until 9850-00 is regained.
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USDCAD
USDCAD closed @ 10260 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways Down while 10315 holds and Daily Trend is Sideways Up while 9975 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior few Day's Range and the Price Closed unchanged towards the Close which signifies a Choppy Session until the Break. The MA is suggesting a Choppy session with a Downside Bias and the Oscillators are Turning Bearish. The Hourly Trend has been in a Range Trading and the Patterns are suggesting Lower Lows are expected , 10295/10315 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are Mixed but USD is Weak against most Crosses so the Bulls may have to be Sidelined until 10295-10315 is regained.
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.