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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 03 December 2010 06:15
USDCHF
USDCHF closed @ 9930 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Zone 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 Sideways Down while 10055 holds and Daily Trend is Sideways while 9815 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 but the Bears gained aggressively but gave up mildly towards the Close which signifies a Range Trading with some strength. The MA is suggesting a Range Trading with a Downside 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, 9975-10055 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: 9895 9805 9760 BEARS: 9990 10030 10075
Today's Strategies: SHORT near 9995 10030 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 9770 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 PRECISELY at Precise Trader's Sup Tgt 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 Turning Down while 9830 holds and Daily Trend is Limited Down while 9955 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 were holding till the Close which signifies some more Strength but it is Trading at Critical Levels. The MA is suggesting a Choppy session and the Oscillators are suggesting a Limited Upside Bias. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting a Choppy session until the Break, 9725-9660 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 Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDCAD
USDCAD closed @ 10025 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 10125 holds and Daily Trend is Sideways while 9920 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend Plunged below the Prior Day's Open and the Bears were holding till the Close which signifies some more Weakness but the Price is trading at Critical Levels. The MA is suggesting a Downside Bias and the Oscillators are suggesting the same . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the Break, 10070-10125 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 Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.