USDCHF
USDCHF closed @ 9785 which was BELOW the open and breached the previous day’s low. The High was 10 pips from Precise Trader’s Res Tgt 1 and the Low was PRECISELY at Precise Trader’s Sup Zone 1.
The Hourly Oscillators are Bearish and the Price is Within the MA, so the Bulls have to be Sidelined. Hourly Trend is Turning Down while 9865 holds and Daily Trend is Limited Up while 9550 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 mildly below the Open but pulled away from the High and we believe that the Bears may move to the previous peak 9675 level . The Patterns are suggesting lower lows are expected. The Hourly looks like it may have topped but the Bears must crack the 9775-55 levels and must protect the 9830-75 levels at all times. The Patterns are suggesting lower lows are expected but the Bears may struggle near 9740-00 levels and we are on the assumption that a temporary high has already been seen. The 15min is suggesting that the upside may be limited to 9800-15 levels in order to stick to our assumption and the break of 9755 is needed for the Bears. The Opening Price Principle suggests that the upside may be limited but Cautious approach is needed until the Price breaks out of Zone 2 levels.
BULLS: 9765 9740 9680 BEARS 9815 9865 9915
Today’s Strategies: SHORT @ the 2nd time Breakout 9755 with a tight stop with a 35-50 pips price target.
