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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Thursday, 19 May 2011 05:56
USDCHF
USDCHF closed @ 8810 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at 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 Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 8885 holds and Daily Trend is Limited Down while 9110 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is mildly below the MA's , the Bulls gained mildly towards the close. The Patterns are suggesting we may see a Range trading until the break . The Hourly time frame, the Price is mildly below the MA's and the Oscillators are suggesting a downside bias. The Patterns are suggesting a Range trading until the break. The 15min time frame, suggesting that the break of 8765 is needed for further gains, 8855-85 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 and High-Low time does not give us good signals.
BULLS: 8770 8705 8645 BEARS: 8845 8875 8945
Today's Strategies: SHORT @ the Break 8770 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10630 which was UNCHANGED from 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 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are Bullish and the Price is Mildly Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 10580 holds and Daily Trend is Turning Down while 11015 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily time frame ,the Price is within 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 mildly above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected but Cautious approach is needed , Corrective Wave is in progress. The 15min time frame, suggesting a choppy session until the break,10600/10580 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.
USDCAD
USDCAD closed @ 9700 which was BELOW the open and breached the previous day's low. The High was PRECISELY at Precise Trader's Res Tgt 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 9750 holds and Daily Trend is Limited Down while 9835 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is within the MA's , the Bears gained towards the Close. The Patterns are suggesting that the High may be seen soon. The Hourly time frame, the Price is within 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, lower lows are expected , 9730-50 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 and High-Low time does not give us good signals.
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.