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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 08 December 2010 06:46
USDCHF
USDCHF closed @ 9875 which was ABOVE the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Tgt 1. 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 9790 holds and Daily Trend is Sideways while 9665 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range but the Bulls gained towards the Close which signifies some more strength. The MA is suggesting an Upside Bias and the Oscillators are suggesting the same. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting Higher highs are expected but expect the Bulls to struggle near 9900-50 levels, 9830-9790 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 9765 BEARS: 9920 9985 10025
Today's Strategies: LONG near 9845 9800 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 9830 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Hrly Level. 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 9930 holds and Daily Trend is Turning Up while 9625 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day's Range and the Bears gained towards the Close which signifies some more Weakness . The MA is suggesting a Choppy session with a Limited Downside Bias and the Oscillators are suggesting a Downside Bias. The Hourly Trend has been in a Range Trading with no Price Targets and the Patterns are suggesting Lower Lows are expected but may be limited, 9875-9930 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.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDCAD
USDCAD closed @ 10125 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 1. 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 10030 holds and Daily Trend is Sideways while 9920 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range but the Bulls gained aggressively towards the Close which signifies some more strength. The MA is suggesting a Choppy session with an Upside Bias and the Oscillators are suggesting the same . The Hourly Trend has been in a Range Trading and the Patterns are suggesting Higher Highs are expected, 10080-30 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.