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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Wednesday, 01 June 2011 05:36
USDCHF
USDCHF closed @ 8540 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the Price is Within the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 8635 holds and Daily Trend is Limited Down while 8895 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's , the Bulls gained mildly towards the close but was within range . The Patterns are suggesting lower lows are expected but Cautious approach is needed. The Hourly time frame, the Price is within the MA's and the Oscillators are suggesting a mixed signals. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting a choppy session until the break, 8585/8635 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 gives us good signals.
BULLS: 8515 8470 8405 BEARS: 8555 8595 8635
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10670 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 Tgt 1. The Hourly Oscillators are Turning Bullish and the Price is Above the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Limited Up while 10625 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 gave up mildly towards the Close but was within range. The Patterns are suggesting a range trading until the break. 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 need to crack the 10765/10800 levels,10640-25 are the Critical levels to watch to maintain the Bullish Outlook. The Opening Price Principles are suggesting that AUD is strong against six crosses and High-Low time suggests mixed signals so Cautious approach is needed.
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USDCAD
USDCAD closed @ 9685 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 5 (U Turn Zone). The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 9765 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 within the MA's , the Bears gained aggressively towards the Close. The Patterns are suggesting the lows may be limited. 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 may be limited . The 15min time frame, suggesting a choppy session until the break , 9730-65 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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Today's Strategies: Get the full report by visiting Precise Trader for a Free Trial.