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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 10 November 2010 07:11
USDCHF
USDCHF closed @ 9680 which was ABOVE 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 20 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 9585 holds and Daily Trend is Turning Down while 9975 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 but the Bulls gained mildly towards the Close which signifies a Range Trading. The MA is suggesting an Upside Bias and the Oscillators are Bullish. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns suggesting a Choppy session until the break, 9635-9585 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: 9655 9600 9550 BEARS: 9715 9775 9835
Today's Strategies: LONG near 9650 9600 with a tight stop with a 50 pips price target.
AUDUSD
AUDUSD closed @ 10035 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Sup Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 10125 holds and Daily Trend is Sideways while 9775 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend was within the Prior few Day's Range and the Bears gained towards the Close which signifies a Range Trading. The MA is suggesting a Choppy session and the Oscillators are Bearish . The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 10080-10125 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 @ 10080 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 1 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 9985 holds and Daily Trend is Sideways while 10205 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend was within the Prior few Day's Range but the Bulls gained towards the Close which signifies a Range Trading . The MA is suggesting a Choppy session with an Upside Bias and the Oscillators are Bullish but Weak. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 10035-9985 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.