Forecast on USD Minors
USDCHF
USDCHF closed @ 11570 which was BELOW the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Tgt 2 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Up while 11520 holds and Daily Trend is Corrective Up while 11345 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High but the Bulls gave up all their gains towards the Close. The Hourly Trend has been Creeping Higher but expect it to continue ,11540-20 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 break higher 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.
Today's Strategies: Trade @ the Bulls & Bears Levels Only.
AUDUSD
AUDUSD closed @ 8275 which was ABOVE 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 Sup Tgt 3. The Hourly Oscillators are MIXED and the Price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Down while 8360 holds and Daily Trend is also Sideways Down while 8625 holds, so expect the Price to be Choppy with a potential to Break Lower. The Daily Trend was within the Prior Day's Range but the Bears gave all their gains towards the Close . The Hourly Trend has been in a Range Trading with a Downside Bias, 8310-60 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 Lower lows are expected provided 8310-60 holds. The Opening Price Principles are suggesting that AUD is Weak against Three Crosses only but we believe it may start to Weaken against the others.
Today's Strategies: SHORT near 8255 8315 with a tight stop with a 50 pips price target.
USDCAD
USDCAD closed @ 10675 which was ABOVE the open and breached the previous day's high. The High was 15 pips from Precise Trader's Res Tgt 2 and the Low was 20 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the Price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways Up while 10595 holds and Daily Trend is also Sideways Up while 10465 holds, so expect the Price to be Choppy with a potential to Break Higher. The Daily Trend breached the Prior Day's High but Bulls gave aggressively towards the Close . The Hourly Trend has been in a Range Trading with an Upside Bias but Cautious approach is needed ,10625-10595 are the Critical levels to watch to maintain the Bullish Outlook . On the 5 min is along the Channel and the Patterns are Suggesting Higher Highs are expected provided 10625 holds. The Opening Price Principles are Mixed , so Cautious approach is needed until the price breaks out of Zone 1 levels.