USDCHF
USDCHF closed @ 9585 which was BELOW the open and breached the previous day’s low. The High was PRECISELY at Precise Trader’s Res Zone 1 and the Low was PRECISELY at Precise Trader’s Sup Tgt 1.
The Hourly Oscillators are Bearish and the Price is Below the MA, so the Bulls have to be Sidelined. Hourly Trend is Limited Down while 9750 holds and Daily Trend is Sideways while 9975 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious.
The Daily Closed below the Open and near the low. The Patterns are suggesting lower lows are expected but Cautious approach is needed.
The Hourly is suggesting that the Bears may march towards 9545/9495 levels and must protect the 9695/9735 levels at all times to support the Bearish view.
The 15min is suggesting that we may be in wave 3 or c which suggests that the low is not seen yet.
The Opening Price Principle suggests that the Bears must protect 9735-65 levels, so trade with the PT strategy when the Price breaks out of Zone 2 levels.
BULLS: 9540 9480 9430 BEARS: 9630 9660 9695
Today’s Strategies: SHORT near 9630 9660 with a tight stop with a 50-80 pips price target.
