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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 03 March 2011 06:10
USDCHF
USDCHF closed @ 9235 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 2. 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 9325 holds and Daily Trend is also Sideways while 9475 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 the Bears gave up mildly 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., 9280/9325 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: 9195 9145 9080 BEARS: 9305 9365 9415
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10170 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 PRECISELY at Precise Trader's Sup Tgt 1. 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 Sideways while 10090 holds and Daily Trend is also Sideways while 9965 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is mildly above the MA's , it was in a Range Trading but the Bulls 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 upward pressure. The Patterns are suggesting that the break of 10205 is needed for the bulls to gain control. The 15min time frame, suggests a Choppy session until the break, 10120/10090 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 @ 9730 which was BELOW 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 5 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 Turning Up while 9645 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 Bears gave up mildly 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 mixed signals. The Patterns are suggesting that the low may have been seen, to confirm our view the Bulls must protect 9680 and must crack 9775 levels . The 15min time frame, suggests that a limited downside bias but there is no confirmation of a reverse, 9775/9800 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.