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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 17 March 2011 05:32
USDCHF
USDCHF closed @ 9080 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 2. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Turning Up while 8880 holds and Daily Trend is Sideways Down while 9325 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 well below the MA's , the Bears were holding till the Close. The Patterns are suggesting the low may be seen soon. The Hourly time frame, the Price is well below the MA's and the Oscillators are suggesting limited downside bias. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a Choppy session with a potential to bottom soon, 9045/9125 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles that CHF is strong against most of the crosses but may be limited, so the Bears may have to be Cautious.
BULLS: 8920 8860 8800 BEARS: 9060 9135 9175
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 9840 which was BELOW the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 9905 holds and Daily Trend is Sideways Down while 10085 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price below the MA's , the Bears gained but gave up partially towards the close. The Patterns are suggesting the low may be seen soon. The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a Choppy session until the break, 9885/9905 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 @ 9915 which was ABOVE the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 15 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the Price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 9815 holds and Daily Trend is Sideways Up while 9735 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is within the MA's , the Bulls gained and gave up mildly towards the Close. The Patterns are suggesting a temporary low may have been seen. The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting some more strength but may be limited . The Patterns are suggesting a Choppy session until the break . The 15min time frame, suggests a Choppy session until the break, 9870-15 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.