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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 29 April 2011 07:53
USDCHF
USDCHF closed @ 8735 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 35 pips from Precise Trader's Sup Tgt 2. 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 8805 holds and Daily Trend is also Limited Down while 9005 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 Price closed unchanged. The Patterns are suggesting that the Bears are showing weakness but no confirmation yet . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a weak upside bias . The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break, 8785/8805 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: 8705 8665 8600 BEARS: 8785 8805 8865
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10930 which was ABOVE the open and breached the previous day's high. The High was 25 pips from Precise Trader's Res Tgt 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Mildly Above the MA, so the Bulls have to be Sidelined. Hourly Trend is Turning Down while 10980 holds and Daily Trend is Sideways Up while 10665 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger. The Daily time frame ,the Price is well above the MA's , the Bulls gave up mildly towards the Close. The Patterns are suggesting that the Bulls are showing signs of weakness but no confirmation yet. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting a choppy session until the break. The 15min time frame, suggesting a choppy session until the break,1 0960-80 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.
USDCAD
USDCAD closed @ 9510 which was ABOVE 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Up while 9450 holds and Daily Trend is Limited Down while 9685 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 Bulls gained mildly towards the close. The Patterns are suggesting a range trading until the break. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting a choppy session with a potential to break higher. The 15min time frame, suggesting a choppy session until the break , 9465-50 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.
BULLS & BEARS : Get the full report by visiting Precise Trader for a Free Trial.
Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.