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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Tuesday, 02 November 2010 06:36
USDCHF
USDCHF closed @ 9920 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Zone 5 (U Turn Zone) 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 9845 holds and Daily Trend is Sideways Up while 9675 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior few Day's Range and the Bulls gained aggressively but gave up mildly towards the Close which signifies a Choppy session. The MA is suggesting an Upside 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, 9875-45 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: 9880 9825 9780 BEARS: 9975 10025 10065
Today's Strategies: LONG near 9880 9825 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 9870 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Up while 9815 holds and Daily Trend is Sideways while 9590 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 mildly towards the Close which signifies a Choppy session. The MA is suggesting an Upside Bias and the Oscillators are Mixed. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session with a Potential to Break Higher, 9825-15 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 @ 10150 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 15 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 10205 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 Downside Bias and the Oscillators are Mixed. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 10180-10205 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.