[B][U]USDCHF[/U][/B]
USDCHF closed @ 10830 which was below the open but within prior day’s trading range. The High was precisely at our Resistance Zone 1. The Hourly Oscillators are mixed and the price is below the MA, so Cautious approach is needed. Hourly Trend is Sideways while 10905 holds and Daily Trend is also Sideways while 10585 holds, so expect the price to be choppy. The patterns are choppy but pointing lower while 10905 level holds. Conservative traders should be Sidelined or strictly trade only at our levels. Aggressive traders should also be Sidelined until there is a breakout.
[B][U]AUDUSD[/U][/B]
AUDUSD closed @ 7835 which was above the open but was within prior day’s trading range. The Low was precisely at our U turn Zone. The Hourly Oscillators are bullish but weak and price is just crossed the MA, so Cautious approach is needed. Hourly Trend is Sideways while 7780 holds and Daily Trend is also Sideways while 8060 holds, so expect the price to be choppy with an upside bias but 7865 must give way first. The patterns are choppy but pointing higher while 7810-7780 level holds. Conservative traders should be Sidelined until there is a clear signal or strictly trade only at our levels. Aggressive traders should look to Long while 7780 level holds for a quick profit with a tight Stop.
[B][U]USDCAD[/U][/B]
USDCAD closed @ 11510 which was well below the open. The High was precisely at our Resistance Zone 1 and the Low was 10 pips away from U turn Zone. The Hourly Oscillators are bearish but over sold and the price is below the MA, so Cautious approach is needed. Hourly Trend is Sideways Down while 11590 holds and Daily Trend is Sideways while 11425 holds, so expect the price to make lower lows but the downside may be limited. The patterns are pointing lower but is approaching the daily target. Conservative traders should be Sidelined or strictly trade only at our levels. Aggressive traders look to Short Cautiously while 11545-11590 level holds and 11480 level gives way with the 11425 target price in mind.