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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 28 April 2011 05:58
USDCHF
USDCHF closed @ 8745 which was UNCHANGED from the open and was within prior day's trading range. The High was 5 pips from Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 8785 holds and Daily Trend is Limited Down while 9005 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is below the MA's , the Price closed unchanged. The Patterns are suggesting that the Bears are still in control . The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a downside bias . The Patterns are suggesting lower lows are expected. The 15min time frame, suggesting lower lows are expected , 8770-85 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that CHF is strong against three crosses so the Bears may have to be Cautious.
BULLS: 8670 8605 8560 BEARS: 8730 8785 8835
Today's Strategies: SHORT near 8730 8785 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10870 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Tgt 2 and the Low was 10 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 10845 holds and Daily Trend is Sideways Up while 10665 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame ,the Price is well above the MA's , the Bulls gained aggressively towards the Close. The Patterns are suggesting that the Bulls are still holding strong and no signs of weakening but approaching price target. The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting that higher highs are expected but cautious approach is needed. The 15min time frame, suggesting higher highs are expected but the bulls struggle near 11025 level,10845-20 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that AUD is strong against three crosses so the Bulls may have to be Cautious.
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USDCAD
USDCAD closed @ 9500 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 9545 holds and Daily Trend is Sideways Down while 9685 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is below the MA's , the Bears gained mildly towards the close. The Patterns are suggesting a range trading until the break. The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting lower lows are expected but cautious approach is needed . The 15min time frame, suggesting a choppy session until the break , 9530-45 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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