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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 09 May 2011 05:54
USDCHF
USDCHF closed @ 8790 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Mildly Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 8680 holds and Daily Trend is Limited Down while 9015 holds, so expect the Price to be Choppy until the Breakout. 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 mildly above the MA's and the Oscillators are suggesting a mixed signals. 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, 8745-8685 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 clear signals.
BULLS: 8715 8665 8600 BEARS: 8815 8865 8925
Today's Strategies: LONG near 8715 8680 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10700 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 3 and the Low was 25 pips from 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 Limited Up while 10610 holds and Daily Trend is Turning Down while 11015 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 partially 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 a Range trading until the break and Corrective Wave is in progress. The 15min time frame, suggesting a choppy session until the break,10685-15 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles suggests that AUD is strong against only three crosses so cautious approach is needed and High-Low time does not give us good signals.
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USDCAD
USDCAD closed @ 9665 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 9715 holds and Daily Trend is also Limited Down while 9830 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. The Patterns are suggesting the low may have e been seen but no confirmation yet. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a weak downside bias. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting lower lows are expected but may be limited , 9695/9715 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles suggests that CAD is strong against only three crosses so Cautious approach is needed and High-Low time does not give us good signals.
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