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Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
Written by article default Monday, 18 July 2011 06:50
USDCHF
USDCHF closed @ 8150 which was BELOW 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 showing Bullish Divergence and the Price is Mildly Below the MA, so Bears book your profit or remain Sidelined. Hourly Trend is Sideways while 8285 holds and Daily Trend is Limited Down while 8330 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's and pointing down , the Price closed unchanged but was within range which signifies a choppy session until the break . The Patterns are suggesting the downside may be limited. The Hourly time frame, the Price is below the MA's and pointing down , the Oscillators are suggesting a downside with lot of strength. The Patterns are suggesting a range trading with a potential to break lower . The 15min time frame, suggesting a choppy session until the break, 8195-8285 are the Critical levels to watch to maintain the Bearish Outlook. The High/Low for the Week may be limited to 8325-8400/ 7960-7885 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: 8040 7960 7885 BEARS: 8180 8240 8285
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AUDUSD
AUDUSD closed @ 10645 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bearish and the Price is Mildly Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways while 10775 holds and Daily Trend is also Sideways while 10475 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 Price closed below the open but within range which signifies a choppy session until the break . 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 a downside bias but lack of strength. The Patterns are suggesting lower lows are expected. The 15min time frame, suggesting a choppy session until the break, 10695-10775 are the critical levels to watch to maintain the Bearish Outlook The High/ Low for the Week may be limited to 10705-10805/ 10525- 10385 levels. The Opening Price Principles are suggesting that AUD is weak against four crosses , but Cautious approach is needed and High-Low time does not gives us good signals.
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USDCAD
USDCAD closed @ 9535 which was BELOW the open and breached the previous day's low. The High was 5 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Tgt 2. 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 Sideways while 9655 holds and Daily Trend is also Sideways while 9780 holds, so expect the Price to be Choppy until the Breakout. The Daily time frame ,the Price is below the MA's but pointing down, the Price closed well below the open retreating from the low mildly but was within range which signifies some pullback. The Patterns are suggesting a range trading until the break. The Hourly time frame, the Price is mildly below the MA's and pointing down, the Oscillators are suggesting a downside bias but lack of strength. The Patterns are suggesting a range trading until the break. The 15min time frame, suggesting a choppy session until the break , 9580/9655 are the Critical levels to watch to maintain the Bearish Outlook. The High / Low for the Week may be limited to 9770-9825/ 9535-9445 levels. The Opening Price Principles are suggesting that CAD is weak against four crosses, but Cautious approach is needed and High-Low time does not give us good signals.
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