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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 06 January 2011 05:54
USDCHF
USDCHF closed @ 9660 which was ABOVE the open and breached the previous day's high. The High was 40 pips from Precise Trader's Res Tgt 3 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Overbought and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 9540 holds and Daily Trend is Turning Up while 9300 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend Rallied Above the Prior Day's High and the Bulls were holding till the Close which signifies some more strength but may be limited. The MA is well below the Price with a limited 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, 9605-9540 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: 9625 9565 9500 BEARS: 9720 9775 9825
Today's Strategies: LONG near 9625 9580 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 9995 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 Tgt 2. 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 Sideways Down while 10080 holds and Daily Trend is Sideways while 9740 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend Plunged below the Prior Day's Low but the Bears gave up mildly the Close which signifies some more Weakness but may be limited . The MA is giving Resistance and has breached the support but 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 there is a possibility more Downside pressure if 9925 gives way, 10025-80 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 @ 9955 which was BELOW 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 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 9885 holds and Daily Trend is Sideways while 10130 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 was within the Prior Day's Range but the Bears gave up mildly towards the Close which signifies some strength. The MA is providing some Resistance and the Oscillators are suggesting Mixed Signals . The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to Break higher,9910-9885 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.