[B][U]USDCHF [/U][/B]
USDCHF closed @ 10730 which was marginally below the open but within trading range. The High and Low was 20 pips within Zone 1 levels. The Hourly Oscillators mixed and the price is below the MA, so Cautious approach is needed. Hourly Trend is Sideways while 10830 holds and Daily Trend is also Sideways while 10585 holds, so expect the price to be choppy but the downside may be limited. The patterns are choppy and we believe the price might bottom soon on the hourly chart. Conservative traders should be Sidelined until the signals are clear or strictly trade only at our levels. Aggressive traders should do the same until the breakout happens.
[B][U]AUDUSD [/U][/B]
AUDUSD closed @ 8070 which was above the open . The Low was 25 pips shy of our Hourly level. The Hourly Oscillators are turning bearish and price is approaching the MA, so Cautious approach is needed for the bulls. Hourly Trend is Turning Down while 8105 holds and Daily Trend is Sideways while 8160 holds, so expect the price to be turning down any time soon. The patterns are suggesting the High may have already been seen on the Hourly Chart or it may test the high one more time. Conservative traders should look to SHORT near 8105 level or strictly trade only at our levels. Aggressive traders should look to SHORT while 8080-8105 level holds.
[B][U]USDCAD [/U][/B]
USDCAD closed @ 11175 which was above the open but within prior day’s trading range. The High and Low was within our levels. 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 while 11260 holds and Daily Trend is Sideways Down while 11530 holds, so expect the price to be choppy. The patterns are choppy and we have no suggestions until the breakout. Conservative traders should be Sidelined until the breakout or strictly trade only at our levels. Aggressive traders should look to do the same until the breakout happens.