[B][U]USDCHF[/U][/B]
USDCHF closed @ 10750 which was well below the open but within trading range. The High was 30 pips shy of our Resistance Zone 1. The Hourly Oscillators are bearish but weak and the price is well below the MA, so Cautious approach is needed for the bears. Hourly Trend is Sideways Down while 10860 holds and Daily Trend is Sideways while 10585 holds, so expect the price to be choppy with a downside bias, but the downside may be limited. The patterns are choppy but in order to maintain a bearish outlook the price should not trade above 10860 level. Conservative traders should be Sidelined as it is approaching the price target or strictly trade only at our levels. Aggressive traders should to SHORT Cautiously near 10860 level with a tight Stop for a quick profit.
[B][U]AUDUSD[/U][/B]
AUDUSD closed @ 8035 which was well above the open and above prior weeks open. The Low was 10 pips shy of our Support Zone 1. The Hourly Oscillators are bullish but weakening and price is well above the MA, so Cautious approach is needed for the bulls. Hourly Trend is Sideways Up while 7930 holds and Daily Trend is Sideways while 8160 holds, so expect the price to be choppy and making higher highs with an upside limited. The patterns are choppy but in order to maintain a bullish out look the price should not trade below 7930 level. Conservative traders should be Sidelined until there is a clear signal or strictly trade only at our levels. Aggressive traders should look to LONG Cautiously near 7930 level with a tight Stop for a quick profit.
[B][U]USDCAD[/U][/B]
USDCAD closed @ 11130 which was well below the open. The High was 15 pips shy our Resistance Zone 1 and turned down. The Hourly Oscillators are bearish but deeply over sold and the price is well below the MA, so Cautious approach is needed for the bears. Hourly Trend is Sideways Down while 11260 holds and Daily Trend is also Sideways Down while 11530 holds, so expect the price to be choppy. The patterns are displaying a pull back but expect the price to be capped at 11260- 11295 level in order to maintain a bearish outlook. Conservative traders should be Sidelined as the price is approaching the price target or strictly trade only at our levels. Aggressive traders should look to SHORT Cautiously near 11260-11295 level with a tight Stop for a quick profit.