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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 27 May 2011 07:15
USDCHF
USDCHF closed @ 8655 which was BELOW the open and breached the previous day's low. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 15 pips from 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 Sideways Down while 8700 holds and Daily Trend is also Sideways Down while 9110 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily time frame ,the Price is below the MA's , the Bears gained towards the close. The Patterns are suggesting lower lows are expected but pay attention to 8550 . 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 Cautious approach is needed . The 15min time frame, suggesting lower lows but the Bears may struggle near 8540-00 levels, 8680/8700 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that CHF is strong against most Crosses and High-Low time does not give us good signals so Cautious approach is needed.
BULLS: 8540 8500 8450 BEARS: 8650 8700 8750
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10645 which was ABOVE the open and breached the previous day's high. The High was 5 pips from 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 and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Sideways Up while 10565 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 aggressively towards the Close but was within range. The Patterns are suggesting that the Bulls are gaining strength. The Hourly time frame, the Price is above the MA's and the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected. The 15min time frame, suggesting higher highs are expected but the Bulls may struggle near 10740-75 levels,10595-65 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that AUD is strong against three crosses only and High-Low time suggests mixed signals so Cautious approach is needed.
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USDCAD
USDCAD closed @ 9780 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 Zone 1. The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Sideways while 9710 holds and Daily Trend is Turning Up while 9445 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is mildly above the MA's , the Price closed unchanged towards the Close and was within range trading. 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 a downside bias. The Patterns are suggesting a Range trading until the break. The 15min time frame, suggesting a choppy session until the break , 9730-10 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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