USDCHF
USDCHF closed @ 9045 which was ABOVE the open and breached the previous day’s high. The High was 10 pips from Precise Trader’s Res Zone 5 (U Turn Zone) and the Low was 5 pips from Precise Trader’s Sup Zone 1.
The Hourly Oscillators are Bullish and the Price is Within the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Up while 8930 holds and Daily Trend is Sideways Down while 9305 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 time frame ,the Price is below the MA’s and pointing down, the Bulls gained towards the Close and broke out of range. The Patterns are suggesting a temporary low may be seen.
The Hourly time frame, the Price is within the MA’s and pointing horizontal, the Oscillators are suggesting an upside bias. The Patterns are suggesting higher highs are expected.
The 15min time frame is suggesting higher highs are expected but the Bulls may struggle near 9095/9135 levels, 9000/8930 are the Critical levels to watch to maintain the Bullish Outlook. We believe the Bulls may struggle @ 9095/9135 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: 9015 8960 8930 BEARS: 9095 9145 9205
Today’s Strategies: LONG near 9015 8985 with a tight stop with a 35-50 pips price target.
