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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 20 January 2011 06:40
USDCHF
USDCHF closed @ 9550 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Up while 9505 holds and Daily Trend is also Turning Up while 9400 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 breached the Prior Day's Low but the Bears were not able to hold till the Close which signifies some strength. The Price is within the MA and the Oscillators are suggesting Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting that the Low may have been seen , 9520-05 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: 9540 9505 9460 BEARS: 9615 9665 9725
Today's Strategies: LONG near 9540 9520 with a tight stop with a 50-80 pips price target.
AUDUSD
AUDUSD closed @ 10010 which was ABOVE the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. 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 10025 holds and Daily Trend is Turning Down while 10165 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's High but the Bulls could not hold till the Close which signifies Weakness . The Price is within the MA and the Oscillators are suggesting Weakness. The Hourly Trend is in a Range Trading and the Patterns are suggesting that the High may have been seen ,10025-55 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles that AUD is Weak against most of the Crosses so the Bulls may have to be Sidelined until 10025 is regained.
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USDCAD
USDCAD closed @ 9955 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at 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 Sideways Up while 9885 holds and Daily Trend is Sideways while 10110 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High and the Bulls were holding till the Close and the High & Low were Higher which signifies some more strength. The Price is above the MA and the Oscillators are suggesting strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session an Upside Bias,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.