Forecast on USD Majors – FX2 (USDCHF, AUDUSD)

USDCHF

USDCHF closed @ 9960 which was ABOVE the open and breached the previous day’s high. The High was 15 pips from Precise Trader’s Res Tgt 1 and the Low was 10 pips from Precise Trader’s Sup Zone 1.
The Hourly Oscillators are Bullish and the Price is Above the MA, so the Bears have to be Sidelined. Hourly Trend is Limited Up while 9835 holds and Daily Trend is Sideways Up while 9680 holds, so expect the Price to have a Minimum Upside and the Bulls have to be Cautious.

The Daily Closed above the Open and near the High and we believe that the Bulls are still trying hard to push higher. The Patterns are suggesting higher highs are expected and we may see 10000-65 levels. The Hourly looks like it may top out soon but the Bears must crack the 9915-9875 levels and must protect the 10000-65 levels at all times to support the Bearish view. The 15min is suggesting that the upside may be limited to 10000-65 levels. The Opening Price Principle suggests that the break of 9875 is needed for the Bears but Cautious approach is needed until the Price breaks out of Zone 2 levels.

BULSS: 9905 9875 9825 BEARS: 10000 10050 10125

Today’s Strategies: Trade @ the Bulls & Bears Levels Only.

AUDUSD

AUDUSD closed @ 10220 which was BELOW the open and breached the previous day’s low. The High was 5 pips from Precise Trader’s Res Tgt 1 and the Low was PRECISELY at Precise Trader’s Sup Tgt 1.
The Hourly Oscillators are Bearish and the Price is Mildly Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Sideways Down while 10345 holds and Daily Trend is Limited Up while 10100 holds, so expect the Price to be Choppy with a potential to Break Lower.

The Daily Closed below the Open and near the low and we believe that the Bears are in control. The Patterns are suggesting lower lows are expected but Cautious approach is needed. The Hourly looks like we may see the Bears testing 10175-00 levels and must protect the 10275/10310 levels at all times. The 15min is suggesting that the Bears may stop near 10165 level and then a pullback towards 10250-75 levels. The Opening Price Principle suggests that 10315-85 is a critical level for the Bears but Cautious approach is needed until the Price breaks out of Zone 2 levels.

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