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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 28 October 2010 06:14
USDCHF
USDCHF closed @ 9905 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was 20 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 Turning Down while 10030 holds and Daily Trend is Sideways Up while 9615 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend breached the Prior Day's High and the Bulls gave up mildly towards the Close which signifies some Weakness. The MA is suggesting an Upside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns suggesting a Choppy session until the break, 9860-05 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: 9845 9800 9750 BEARS: 9940 9980 10030
Today's Strategies: LONG near 9845 9800 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9720 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 3. 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 Turning Up while 9650 holds and Daily Trend is Sideways while 9530 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend was within the Prior few Day's Range and the Bears gained aggressively but gave up mildly towards the Close which signifies some more Strength. The MA is suggesting a Downside Bias and the Oscillators are Bearish but Weak. The Hourly Trend has been in a Range Trading with no Price Targets and looks like a Spinning Top Candlestick and the Patterns are suggesting the Low may have been seen, 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.
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 @ 10280 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 10405 holds and Daily Trend is Sideways while 10050 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily Trend was within the Prior few Day's Range and the Bulls gained but gave up partially towards the Close which signifies a Choppy Session with some Weakness. The MA is suggesting a Choppy Session with an Upside Bias and the Oscillators are Turning Bearish. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 10230-10190 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.