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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 16 February 2011 06:37
USDCHF
USDCHF closed @ 9670 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 PRECISELY at Precise Trader's Sup Tgt 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 Limited Down while 9745 holds and Daily Trend is Sideways Up while 9495 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend breached the Prior Day's Low but the Bears were holding till the Close which signifies some Weakness during Asian session. The Price is within the MA's and the Oscillators are suggesting Weakness but may be limited. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a limited Downside, 9715-45 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: 9630 9565 9525 BEARS: 9715 9785 9825
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 9965 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 10 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are showing Bullish Divergence and the Price is Within the MA, so Bears book your profit or remain Sidelined. Hourly Trend is Turning Up while 9925 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 was within the Prior Day's Range but the Bears gave up mildly towards the Close which signifies some strength . The Price is within the MA's and the Oscillators are suggesting a limited downside. The Hourly Trend is creeping higher and the Patterns are suggesting that the Low may have been seen,9940-20 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.
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USDCAD
USDCAD closed @ 9895 which was UNCHANGED from 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 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 9925 holds and Daily Trend is also Sideways while 10065 holds, so expect the Price to be Choppy until the Breakout. The Daily Trend was within the Prior Day's Range but the Price Closed unchanged which signifies a Range Trading with some Weakness. The Price is mildly below 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, 9925-40 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.