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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 01 November 2010 06:54
USDCHF
USDCHF closed @ 9825 which was BELOW the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 9915 holds and Daily Trend is Sideways Up while 9605 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior few Day's Range and the Bears gained mildly towards the Close which signifies a Choppy session. The MA is suggesting a Mixed Bias and the Oscillators are the same. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns suggesting a Choppy session until the break, 9880-9915 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: 9825 9775 9665 BEARS: 9895 9965 10030
Today's Strategies: LONG near 9825 9775 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9835 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Hrly Level. 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 9760 holds and Daily Trend is Sideways while 9565 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior few Day's Range and 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 in a Range Trading with 9915/60/10000-50 as Price Targets and the Patterns are suggesting a Choppy session with a Potential to Break Higher, 9790-60 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that AUD is Strong against Five Crosses so the Bears may have to be Sidelined until 9790-60 is regained.
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USDCAD
USDCAD closed @ 10195 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. 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 while 10240 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 and the Bears gained but gave up mildly towards the Close which signifies a Choppy Session . 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 a Choppy session until the Break, 10225-45 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.