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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 18 March 2011 06:51
USDCHF
USDCHF closed @ 8985 which was BELOW the open and breached the previous day's low. The High was 25 pips from Precise Trader's Res Zone 1 and the Low was 25 pips from Precise Trader's Critical Sup. 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 8965 holds and Daily Trend is Turning Up while 8850 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is well below the MA's , the Bears gave up partially towards the Close. The Patterns are suggesting the low may have been seen . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a reversal. The Patterns are suggesting a choppy session with a potential to break higher. The 15min time frame, suggests a Choppy session with a potential to break higher, 8965-40 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles that CHF is Weak against all the crosses but so the Bears may have to be Sidelined.
BULLS: 8985 8915 8850 BEARS: 9135 9195 9235
Today's Strategies: LONG near 8985 8965 with a tight stop with a 50-80 pips price target.
AUDUSD
AUDUSD closed @ 9805 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 10 pips from Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Up while 9785 holds and Daily Trend is Turning Up while 9705 holds, so expect the Price to make Higher Highs and the Bears have to Sidelined. The Daily time frame ,the Price below the MA's , the Bears gave up partially towards the close. The Patterns are suggesting the low may be seen soon. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting the low may have been seen. The 15min time frame, suggests a Choppy session with a potential to break higher, 9760-05 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that AUD is strong against most of the Crosses so the Bears may have to be Sidelined.
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USDCAD
USDCAD closed @ 9850 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 15 pips from Precise Trader's Hrly Level. 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 Limited Down while 9900 holds and Daily Trend is Sideways Up while 9665 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is within the MA's , the Bears gained towards the Close but was within a Range Trading. The Patterns are suggesting a temporary low may have been seen. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting some weakness but may be limited . The Patterns are suggesting a Choppy session until the break . The 15min time frame, suggests some weakness but may be limited , 9880/9900 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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