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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 27 October 2010 06:32
USDCHF
USDCHF closed @ 9845 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 3 and the Low was 20 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 while 9755 holds and Daily Trend is Sideways Up while 9575 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend Rallied above the Prior Day's Range and the Bulls were holding till the Close which signifies some more Strength. The MA is suggesting an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with 9890/9945/10000 as Price Targets and the Patterns suggesting a Choppy session until the break, 9800-9755 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: 9815 9755 9710 BEARS: 9915 9965 10030
Today's Strategies: LONG near 9815 9755 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9855 which was BELOW the open and was within prior day's trading range. 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 9875 holds and Daily Trend is Sideways while 9595 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 Bears gained but gave up partially towards the Close which signifies Weakness. The MA is suggesting a Downside Bias and the Oscillators are Bearish. The Hourly Trend has been Creeping Lower with 9730-00/9660 as Price Targets and the Patterns are suggesting Lower Lows are expected, 9825-75 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that AUD is Weak against most of the Crosses so the Bulls have to be Sidelined until 9825-75 is regained.
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USDCAD
USDCAD closed @ 10240 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 5 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 while 10170 holds and Daily Trend is also Sideways while 10000 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior few Day's Range but the Bulls gained towards the Close which signifies a Choppy Session until the Break. 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 a Choppy session with a Potential to break Higher, 10190-70 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.