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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Friday, 24 June 2011 07:33
USDCHF
USDCHF closed @ 8385 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 PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish but Weak and the Price is Mildly Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 8485 holds and Daily Trend is also Limited Down while 8665 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily time frame ,the Price is mildly below the MA's and pointing down , the Price closed unchanged towards the close which signifies a choppy session until the break . The Patterns are suggesting a range trading until the break but the downside may be limited. The Hourly time frame, the Price is mildly below the MA's and pointing horizontal , the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a range trading until the break . The 15min time frame, suggesting a choppy session until the break, 8430-85 are the Critical levels to watch to maintain the Bearish Outlook. The High/Low for the Week may be limited to 8515-95/8315 levels. 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: 8360 8315 8285 BEARS: 8415 8465 8525
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 10525 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 Turning Bullish and the Price is Mildly Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Limited Down while 10635 holds and Daily Trend is Sideways while 10875 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 but horizontal , the Bears gained but gave up partially towards the Close which signifies some more strength at the initial stage of the day . The Patterns are suggesting a Range trading until the break. The Hourly time frame, the Price is within the MA's and pointing horizontal, the Oscillators are suggesting a limited downside bias. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break,10575/10635 are the Critical levels to watch to maintain the Bearish Outlook The High/ Low for the Week may be limited to 10750/10435-10335 levels. 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.
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USDCAD
USDCAD closed @ 9790 which was ABOVE the open and breached the previous day's high. The High was PRECISELY at Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Zone 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 while 9705 holds and Daily Trend is also Sideways while 9585 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is within the MA's but horizontal, the Bulls gained but gave up mildly towards the Close but was within range which signifies a choppy session during the initial stage of the day. The Patterns are suggesting a range trading until the break. The Hourly time frame, the Price is mildly above the MA's and pointing horizontal, the Oscillators are suggesting an upside bias. The Patterns are suggesting a choppy session until the break . The 15min time frame, suggesting a choppy session with a limited downside bias , 9745-05 are the Critical levels to watch to maintain the Bullish Outlook. The High / Low for the Week may be limited to 9900-40/9670-9585 levels. 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.