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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 14 February 2011 06:16
USDCHF
USDCHF closed @ 9735 which was ABOVE the open and breached the previous day's high. The High was 10 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Turning Down while 9775 holds and Daily Trend is Sideways Up while 9465 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 gave up mildly towards the Close which signifies some Weakness during Asian session. The Price is mildly above the MA's and the Oscillators are suggesting Weakness. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a temporary Top may have been seen , 9765-75 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: 9680 9630 9580 BEARS: 9745 9785 9825
Today's Strategies: SHORT near 9730 9775 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10020 which was BELOW the open and was within prior day's trading range. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Turning Up while 9980 holds and Daily Trend is Sideways while 9805 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 gave up partially towards the Close which signifies some strength . The Price is within the MA's and the Oscillators are suggesting some strength. The Hourly Trend is in a Range Trading and the Patterns are suggesting a temporary Low may have been seen ,9975-65 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that AUD is strong against Four Crosses so the Bears may have to be Cautious as a Reverse may happen.
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USDCAD
USDCAD closed @ 9875 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. 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 9925 holds and Daily Trend is Sideways while 10050 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low and the Bears were holding till 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 has been in a Range Trading and the Patterns are suggesting a Choppy session until the break, 9925-50 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.