Forecast on USD Minors (USDCHF, AUDUSD, USDCAD)
USDCHF
USDCHF closed @ 10820 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 PRECISELY at Precise Trader's Hrly Level. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Turning Up while 10740 holds and Daily Trend is Limited Down while 11035 holds, so expect the Price to Turn Up Soon, so the Bears may stay Sidelined and the Bulls get ready to pull the Trigger. The Daily Trend breached the Prior Day's Low marginally but the Bears gave up mildly towards the Close. The Hourly Trend has been in a Range Trading with a Limited Downside Bias,10770-40 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are suggesting a Choppy session with a potential to Turn Up soon. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 10770 10720 10670 BEARS: 10840 10880 10935
Today's Strategies: Trade @ the Bulls Levels Only.
AUDUSD
AUDUSD closed @ 8485 which was BELOW the open and breached the previous day's low. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Tgt 3. The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 8575 holds and Daily Trend is Sideways Up while 8240 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious. The Daily Trend Plunged Below the Prior Day's Open and the Bears were holding their gains till the Close . The Hourly Trend has been in a Range Trading with a Limited Downside Bias, 8530-75 are the Critical levels to watch to maintain the Bearish Outlook . On the 5 min is along the Horizontal Channel and the Patterns are Suggesting a Choppy session with a potential to break Lower but Cautious approach is needed. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.
BULLS: 8475 8420 8365 BEARS: 8530 8575 8625
