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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 24 February 2011 06:02
USDCHF
USDCHF closed @ 9330 which was BELOW the open and breached the previous day's low. 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 Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 9375 holds and Daily Trend is also Sideways Down while 9585 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend breached the Prior Day's Low , the Bears were holding till the Close which signifies some more Weakness. The Price is below the MA's and the Oscillators are suggesting some more weakness but may be limited. The Hourly Trend has been in a Range Trading and the Patterns are suggesting a Choppy session with a potential to break lower , 9360-75 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: 9240 9190 9150 BEARS: 9355 9425 9485
Today's Strategies: SHORT near 9355 9375 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10025 which was ABOVE the open and was within prior day's trading range. The High was 35 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 Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways Up while 9985 holds and Daily Trend is Sideways while 9865 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend was within the Prior Day's Range but the Bulls gained mildly towards the Close which signifies some strength . The Price is mildly above the MA's and the Oscillators are suggesting an Upside Bias. The Hourly Trend has been creeping higher and the Patterns are suggesting that higher highs are expected ,9980-50 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDCAD
USDCAD closed @ 9895 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 PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. 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 was within the Prior Day's Range, the Bulls gained but gave up all their gains towards the Close which signifies a Range Trading with some weakness. The Price is within 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, 9925-35 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.