Forecast on USD Majors – FX1/FX2 (EURUSD/USDCHF)

EURUSD

EURUSD closed @ 12565 which was BELOW the open and was within prior day’s trading range. The High was PRECISELY at Precise Trader’s Res Zone 1 and the Low was PRECISELY at Precise Trader’s Sup Zone 1.
The Hourly Oscillators are Turning Bearish and the Price is Within the MA, so the Bulls have to be CAUTIOUS. Hourly Trend is Limited Up while 12425 holds and Daily Trend is Sideways while 12230 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious.

The Daily Closed below the Open and near the low but still within Range and we believe that the Bears may gain in the near term. The Patterns are suggesting lower lows are expected but Cautious approach is needed.
The Hourly suggests that the Bears may march towards 12465-12425 levels and must protect the 12570/12630 levels at all times to support our bearish view.
The 15min is suggesting that we may be in wave 3 and the upside may be limited to 12570/12600 levels and the low is yet to be seen. The Opening Price Principle suggests that the 12585 level should be protected, so trade with the PT strategy when the Price breaks out of Zone 2 levels.

BULLS: 12500 12435 12385 BEARS: 12580 12630 12680

Today’s Strategies: SHORT near 12570 12600 with a tight stop with a 50-80 pips price target.

USDCHF

USDCHF closed @ 9560 which was ABOVE the open and was within prior day’s trading range. The High was PRECISELY at Precise Trader’s Res Zone 1 and the Low was PRECISELY at Precise Trader’s Sup Zone 1.

The Hourly Oscillators are Turning Bullish and the Price is Within the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Limited Down while 9680 holds and Daily Trend is Sideways while 9815 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious.

The Daily Closed above the Open but within Range . The Patterns are suggesting a Range Trading until the breakout so Cautious approach is needed.
The Hourly is suggesting that the Bulls may gain control and must protect the 9515-00 levels at all times to support the Bullish view.
The 15min is suggesting that we may be in wave 3 which suggests that the high is not seen yet.
The Opening Price Principle suggests that the Bulls must protect 9535 level, so trade with the PT strategy when the Price breaks out of Zone 2 levels.

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Today’s Strategies: Get the full report by visiting Precise Trader for a Free Trial.