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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 11 February 2011 06:57
USDCHF
USDCHF closed @ 9690 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 20 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 Sideways Up while 9610 holds and Daily Trend is also Sideways Up while 9455 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High , the Bulls were holding till the Close which signifies a Range Trading with some strength. The Price is above the MA's and the Oscillators are suggesting strength. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break , 9645-10 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: 9635 9600 9525 BEARS: 9730 9785 9825
Today's Strategies: LONG near 9635 9600 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10045 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 10095 holds and Daily Trend is Sideways while 9805 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low but the Bears gave up mildly towards the Close which signifies a Range Trading with some Weakness . The Price is below the MA's and the Oscillators are suggesting more Weakness. The Hourly Trend is in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break lower ,10175/10205 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that AUD is Weak against Five Crosses so the Bulls may have to be Sidelined until 10075-95 is regained .
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USDCAD
USDCAD closed @ 9955 which was ABOVE 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 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 9895 holds and Daily Trend is also Sideways while 10085 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Bulls gave up partially towards the Close which signifies a Range Trading with some strength. The Price is within the MA's and the Oscillators are suggesting Mixed Signals. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session until the break, 9910/9895 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.