USDCHF
USDCHF closed @ 9880 which was BELOW the open and breached the previous day’s low. The High was 20 pips from Precise Trader’s Res Zone 1 and the Low was 5 pips from Precise Trader’s Sup Tgt 1.
The Hourly Oscillators are Bearish and the Price is Mildly Above the MA, so the Bulls have to be Sidelined. Hourly Trend is Turning Down while 9760 holds and Daily Trend is Sideways Up while 9680 holds, so expect the Price to Turn Down Soon, so the Bulls may stay Sidelined and the Bears get ready to pull the Trigger.
The Daily Closed well below the Open and near the Low and we believe that the Bears may have gained control but no confirmation yet. The Patterns are suggesting that the high may have been seen or we may get one more attempt towards 10000 mark. The Hourly looks like it may have topped but the Bears must crack the 9850-30 levels and must protect the 9975/10000 levels at all times to support the Bearish view. The 15min is suggesting that the upside may be limited to 9930-75 levels. The Opening Price Principle suggests that the break of 9875-50 is needed for the Bears but Cautious approach is needed until the Price breaks out of Zone 2 levels .
BULLS: 9830 9760 9725 BEARS: 9925 9975 10000
Today’s Strategies: SHORT near 9930 9975 with a tight stop with a 50-80 pips price target.
AUDUSD
AUDUSD closed @ 10310 which was ABOVE the open and was within prior day’s trading range. The High was PRECISELY at Precise Trader’s Sup Zone 5 (U Turn Zone) and the Low was 5 pips from Precise Trader’s Sup Zone 1.
Trend The Hourly Oscillators are Bullish and the Price is Mildly Above the MA, so the Bears have to be Sidelined. Hourly Trend is Turning Up while 10185 holds and Daily Trend is Limited Up while 10100 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 Closed well above the Open but mildly below the high and we believe that the Bulls are back in control but no confirmation yet. The Patterns are suggesting that the low may have been seen but Cautious approach is needed. The Hourly looks like it may have bottomed and must protect the 10280-50 levels at all times. The 15min is suggesting that the Bulls may protect 10250-15 levels. The Opening Price Principle suggests that 10360-85 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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