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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 06 May 2011 07:27
USDCHF
USDCHF closed @ 8705 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was 30 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 8615 holds and Daily Trend is Limited Down while 9000 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 Bulls gained aggressively towards the close. The Patterns are suggesting that the Bulls are gaining control . The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting a Range trading with a potential to break higher. The 15min time frame, suggesting a choppy session until the break and the downside may be limited, 8660-15 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 and High-Low time does not give us good signals.
BULLS: 8650 8600 8550 BEARS: 8725 8785 8860
Today's Strategies: LONG near 8650 8625 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10580 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 5 pips from Precise Trader's Dly Level. The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Turning Down while 10815 holds and Daily Trend is Limited Up while 10525 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 within the MA's , the Bears gained aggressively towards the Close. The Patterns are suggesting that the Bears may gain soon. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a weak upside bias. The Patterns are suggesting the highs may be limited and Wave 4 is in progress. The 15min time frame, suggesting a limited upside,10800-15 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that AUD is strong against all the crosses but approaching price target so cautious approach is needed and High-Low time giving us a mixed signals.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.
USDCAD
USDCAD closed @ 9670 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at 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 Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Limited Up while 9565 holds and Daily Trend is Limited Down while 9830 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious. The Daily time frame ,the Price is within the MA's , the Bulls gained aggressively but gave up mildly towards the close. The Patterns are suggesting the low may have e been seen but no confirmation yet. The Hourly time frame, the Price is 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 , 9625/9565 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 and High-Low time does not give us good signals.
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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.