USD Minors Forecast For May 14, 2013

USD/CHF closed @ 9575 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 2.

The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so a CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 9455 holds and Daily Trend is Sideways Up while 9330 holds, so expect the Price to be Choppy until the Breakout.

The Daily Closed > Open, it was within a Range with an upside bias and the Bullish Violation Zone is 9415-9330 levels. The Patterns are suggesting a range but the downside may be limited. The 15min is creeping lower but may be limited. The Bearish Violation Zone is 9545-95 levels and the PT Anchor Low/ High is 9545-95 levels.

BULLS: 9500 9475 9435
BEARS: 9545 9595 9635

Today's Strategies LONG near 9500 9475 with a tight stop with a 35-50 pips price target.

AUD/USD

AUD/USD closed @ 9955 which was BELOW the open and breached the previous day's low. The High was 30 pips from Precise Trader's Res Zone 1 and the Low was 10 pips from Precise Trader's Sup Zone 4.

The Hourly Oscillators are Turning Bullish and the Price is Below the MA, so the Bears have to be CAUTIOUS. Hourly Trend is Sideways while 10080 holds and Daily Trend is Turning Up while 10370 holds, so expect the Price to be Choppy until the Breakout.

The Daily Closed < S2 ,it is creeping lower but we may get a correction and 10265-10340 are the Bearish Violation Zone . The Patterns are suggesting a pullback higher may be limited . The 15min is in a Range and upside may be limited . The Bullish Violation Zone is 9940-70 levels and the PT Anchor Low/ High is 9940-70 levels.

USD/CAD

USDCAD closed @ 10105 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1.

The Hourly Oscillators are Bearish but Weak and the Price is Within the MA, so CAUTIOUS approach is needed for the Bears. Hourly Trend is Sideways while 9980 holds and Daily Trend is also Sideways while 10235 holds, so expect the Price to be Choppy until the Breakout.

The Daily Closed > Open , is creeping higher and looks like it may have bottomed and 10225-80 are the Bearish Violation Zone . The Patterns are suggesting a range with a limited downside . The 15min is in a Range but the low may have been seen. The Bullish Violation Zone is 10015-45 levels and the PT Anchor Low/ High is 10075-10115 levels.