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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 05 January 2011 06:48
USDCHF
USDCHF closed @ 9485 which was ABOVE the open and breached the previous day's high. The High was 20 pips from Precise Trader's Res Tgt 3 and the Low was 15 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 Turning Up while 9325 holds and Daily Trend is Limited Down while 9625 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend Rallied Above the Prior Day's High and the Bulls were holding till the Close which signifies some more strength. The MA is giving some support with 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 a Choppy session until the Break, 9440-9365 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: 9445 9400 9365 BEARS: 9530 9580 9625
Today's Strategies: LONG near 9445 9400 with a tight stop with a 50-80 pips price target.
AUDUSD
AUDUSD closed @ 10050 which was BELOW the open and breached the previous day's low. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Hrly Level. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 9925 holds and Daily Trend is Sideways while 9930 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend Plunged below the Prior Day's Low and the Bears were holding till the Close which signifies some more Weakness but may be limited . The MA is approaching critical levels and the Downside may be limited 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 that the Bulls may gain control soon,10080-10120 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.
USDCAD
USDCAD closed @ 9985 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 Zone 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 9910 holds and Daily Trend is Sideways while 10130 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies some strength. The MA is providing some support 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 a Choppy session until the Break,9940-10 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.