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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 04 May 2011 06:48
USDCHF
USDCHF closed @ 8615 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 10 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Limited Down while 8730 holds and Daily Trend is also Limited Down while 9000 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is well below the MA's , the Bears gained towards the close. The Patterns are suggesting that the Bears may weaken soon . The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a Range trading until the break but Wave 5 is about to complete. The 15min time frame, suggesting a choppy session until the break and the downside may be limited, 8660/8730 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: 8605 8585 8540 BEARS: 8665 8730 8800
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10845 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at 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 Limited Down while 10915 holds and Daily Trend is Limited Up while 10545 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is well above the MA's , the Bears gained aggressively towards the Close. The Patterns are suggesting that the Bears may weaken soon. 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 may be limited. The 15min time frame, suggesting a limited downside,10895/10915 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that AUD is weak against four crosses but Cautious approach is needed for the Bears.
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USDCAD
USDCAD closed @ 9525 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish but Weak and the Price is Mildly Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Sideways while 9460 holds and Daily Trend is Limited Down while 9725 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's , the Bulls gained towards the close. The Patterns are suggesting a range trading until the break. The Hourly time frame, the Price is mildly above the MA's and the Oscillators are suggesting a weak upside bias. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting a choppy session until the break , 9480-60 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.