AUDUSD

AUDUSD closed @ 10250 which was BELOW the open and breached the previous day’s low. The High was 30 pips from Precise Trader’s Res Zone 1 and the Low was 30 pips from Precise Trader’s Sup Zone 5 (U Turn Zone).
The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 10375 holds and Daily Trend is Sideways while 10545 holds, so expect the Price to have a Minimum Downside and the Bears have to be Cautious.

The Daily Closed well below the Open and near the low. The Patterns are suggesting lower lows but Cautious approach is needed.
The Hourly looks like the Bears may attempt the 10200/10150 levels and must protect the 10325-50 levels at all times.
The 15min is suggesting a break of 10230 is needed for the Bears. The Opening Price Principle suggests that the Bears are in control in the near term while the 10325 level holds, so trade with the PT strategy when the Price breaks out of Zone 2 levels.

BULLS: 10190 10150 10100 BEARS: 10300 10325 10375

Today’s Strategies: LONG near 10190 10150 with a tight stop with a 35-50 pips price target.

NZDUSD

NZDUSD closed @ 7975 which was BELOW the open and was within prior day’s trading range. The High was 20 pips from Precise Trader’s Res Zone 1 and the Low was 20 pips from Precise Trader’s Sup Tgt 2.
The Hourly Oscillators are Bearish but Oversold and the Price is Below the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Limited Down while 8085 holds and Daily Trend is Sideways while 8190 holds, so expect the price to have a Minimum Downside and the Bears have to be Cautious.

The Daily Closed well below the Open but was within the Range. The Patterns are suggesting a Range trading until the breakout so Cautious approach is needed.
The Hourly looks like we may see the bottom soon and the Bears must protect the 8015-35 levels at all times.
The 15min is suggesting that we may see the bottom near 7930/7880 levels. The Opening Price Principle suggests that 8025 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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Today’s Strategies: Get the full report by visiting Precise Trader for a Free Trial.