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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 02 March 2011 07:52
USDCHF
USDCHF closed @ 9285 which was UNCHANGED from 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 10 pips from Precise Trader's Sup Zone 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 Sideways while 9365 holds and Daily Trend is also Sideways while 9465 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's , it was in a Range Trading and the Price closed unchanged towards the Close. The Patterns are suggesting that the Low is not seen yet but it is trading at critical levels. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting some downward pressure. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a Choppy session until the break., 9330-65 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 9195 9145 BEARS: 9360 9430 9465
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AUDUSD
AUDUSD closed @ 10135 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Sup Zone 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 10215 holds and Daily Trend is Sideways while 9945 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 time frame ,the Price is mildly above the MA's , it was in a Range Trading but the Bears gained towards the Close. The Patterns are suggesting a mixed signals and it is trading in critical levels. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting some downward pressure. The Patterns are suggesting there may be a failure which may lead the bears to gain control in the near term. The 15min time frame, suggests that some downward pressure and the Bears may test 10085-00 before the next leg up, 10165/10215 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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USDCAD
USDCAD closed @ 9745 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Up while 9640 holds and Daily Trend is Limited Down while 9895 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 time frame ,the Price is below the MA's , the Bulls were weak in the initial stage but gained towards the Close. The Patterns are suggesting that the Price is trading at critical levels. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting an upward pressure. The Patterns are suggesting that the low may have been seen and the Bulls may gain control in the near term. The 15min time frame, suggests that a limited downside bias but there is no confirmation of a reverse, 9790/9835 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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