NZDUSD closed @ 6925 which was BELOW the open and was within prior day's trading range. The High was 10 pips from Precise Trader's Res Zone 1 and the Low was 20 pips from Precise Trader's Sup Tgt 2. The Hourly Oscillators are Bullish and the price is Within the MA, so the Bears have to be sidelined. Hourly Trend is Sideways Up while 6855 holds and Daily Trend is Corrective Down while 7105 holds, so expect the price to make Higher Highs. The Daily Trend was within prior day's Range. The Hourly Trend has been creeping higher and expect it to continue until it reaches 7040-80 levels , 6885-55 are the critical levels to watch to maintain the bullish outlook . On the 5 min is along the Up Channel and the price patterns are suggesting higher highs are expected. The Opening price principle suggests NZD is Strong against all the crosses so the Bulls may be in control today and expect even the price to close near the highs.
BULLS: 6925 6855 6825 BEARS: 7035 7065 7105
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : LONG near 6950 6900 with a tight stop with a 50 pips price target.
Thursday, February 11, 2010
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