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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Tuesday, 31 May 2011 06:15
USDCHF
USDCHF closed @ 8520 which was UNCHANGED from 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 MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Limited Down while 8605 holds and Daily Trend is also Limited Down while 8895 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is below the MA's , the Bulls gained mildly towards the close. The Patterns are suggesting lower lows are expected but Cautious approach is needed. The Hourly time frame, the Price is below the MA's and the Oscillators are suggesting a mixed signals. The Patterns are suggesting lower lows are expected but Cautious approach is needed . The 15min time frame, suggesting lower lows but the Bears must crack 8465 level, 8565/8605 are the Critical levels to watch to maintain the Bearish Outlook. The Opening Price Principles are suggesting that CHF is strong against only against the USD so Cautious approach is needed and High-Low time does not give us good signals.
BULLS: 8465 8395 8325 BEARS: 8535 8575 8605
Today's Strategies: SHORT @ the Break 8465 with a tight stop with a 35-50 pips price target.
AUDUSD
AUDUSD closed @ 10690 which was BELOW 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 Zone 1. The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 10640 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 mildly above the MA's , the Bears gained 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 but may be limited. The 15min time frame, suggesting higher highs are expected but the Bulls may struggle near 10820-35 levels,10660-40 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 @ 9770 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 15 pips from Precise Trader's Sup Zone 1. 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 9815 holds and Daily Trend is Turning Up while 9445 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 mildly towards the Close but was within range trading. The Patterns are suggesting a range trading until the break. 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 . The 15min time frame, suggesting a choppy session until the break , 9750/9815 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.
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