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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 07 February 2011 06:45
USDCHF
USDCHF closed @ 9550 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 3 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Above the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Limited Up while 9470 holds and Daily Trend is Sideways Down while 9710 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily Trend breached the Prior Day's High but the Bulls gave up mildly towards the Close which signifies a Range Trading with some Weakness. The Price is above the MA's and the Oscillators are suggesting some Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break , 9500/9485 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: 9520 9470 9410 BEARS: 9585 9635 9670
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10140 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Turning Down while 10205 holds and Daily Trend is Sideways Up while 9900 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 but the Bulls could not hold till the Close which signifies a Range Trading with some Weakness . The Price is within the MA's and the Oscillators are suggesting Weakness. The Hourly Trend is in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break lower ,10170-10205 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 @ 9875 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 15 pips from Precise Trader's Sup Tgt 2. 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 Sideways while 9935 holds and Daily Trend is also Sideways while 10060 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend breached the Prior Day's Low but the Bears gave up partially towards the Close which signifies a Range Trading with some more strength. The Price is mildly below the MA's and the Oscillators are suggesting Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break lower, 9920-35 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.