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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 21 March 2011 05:45
USDCHF
USDCHF closed @ 8995 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 PRECISELY at Precise Trader's Sup Zone 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 Turning Up while 8905 holds and Daily Trend is also Turning Up while 8850 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 Bulls 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 that the Bulls are still weak. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggests a Choppy session until the break, 8950-05 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles that CHF is Weak against most of the crosses but so the Bears may have to be Sidelined.
BULLS: 8995 8930 8850 BEARS: 9065 9125 9165
Today's Strategies: LONG near 9000 8965 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 9960 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Mildly Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 9905 holds and Daily Trend is Turning Up while 9705 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price mildly below the MA's , the Bulls gained aggressively 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 an upside bias. The Patterns are suggesting higher highs are expected but may be limited. The 15min time frame, suggests a Choppy session until the break, 9915-05 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that AUD is strong against Five Crosses but the Bulls may have to be Cautious as it is approaching critical levels.
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USDCAD
USDCAD closed @ 9850 which was UNCHANGED from 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 Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 9895 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 Price Closed unchanged and 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 a mixed signals. The Patterns are suggesting a Choppy session until the break . The 15min time frame, suggests some weakness but may be limited , 9880-95 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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