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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Monday, 01 March 2010 07:43
Spot Gold
SPOT GOLD closed @ 11178.5 which was ABOVE the open and breached the previous day's high. The High was 0.5 Dollars from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish and the price is Above the MA, so the Bears have to be sidelined. Hourly Trend is Turning Down while 11235 holds and Daily Trend is Sideways while 11338 holds, so expect the price to be Choppy and Upside may be limited. The Daily Trend was strong and had an Up close . The Hourly Trend has been in a Range Trading with an potential to turn down soon,11210-11235 are the critical levels to watch to maintain the bearish outlook . On the 5 min is along the Horizontal Channel with a limited Upside Bias and the patterns are suggesting it might creep lower provided 11230 level holds. The Opening price principle are mixed but expect the Bears to be in control today .
BULLS: 11050 10950 10865 BEARS: 11235 11315 11385
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 11235 11315 with a tight stop and 6-10 pts price targets.
NZDUSD
NZDUSD closed @ 6980 which was ABOVE the open and breached the previous day's high. The High was 5 pips from Precise Trader's Res Zone 5 (U Turn Zone) and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bullish but Weak and the price is Above the MA, so CAUTIOUS approach is needed for the Bulls. Hourly Trend is Turning Down while 7025 holds and Daily Trend is Sideways Down while 7145 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend breached the prior day's high but the Bulls were Weak towards the close. The Hourly Trend has been in a Range Trading with a Downside Bias ,7025-45 are the critical levels to watch to maintain the bearish outlook . On the 5 min is along the Horizontal Channel and the price patterns are suggesting lower lows provided 7025 holds. The Opening price principle suggests NZD may have seen the High for the Day for at least Five Crosses so the Bulls may have to be Sidelined.
BULLS: 6940 6860 6780 BEARS: 7025 7085 7120
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : SHORT near 7025 7085 with a tight stop with a 50 pips price target.
USDSGD
USDSGD closed @ 14065 which was BELOW the open and breached the previous day's low. The High was 20 pips from Precise Trader's Res Zone 1 and the Low was 5 pips from Precise Trader's Sup Zone 1. The Hourly Oscillators are Bearish and the price is Below the MA, so the Bulls have to be sidelined. Hourly Trend is Sideways Down while 14125 holds and Daily Trend is Sideways while 14205 holds, so expect the price to be Choppy with a Downside bias. The Daily Trend was within prior few day's Range with the Bears giving up mildly towards the Close. The Hourly Trend has been in a Range Trading with an Downside Bias , 14125-75 are the critical levels to watch to maintain the bearish outlook . On the 5 min is along the gradual Down Channel and the price patterns are suggesting Choppy Session with a potential to test the prior swing low of 14015 level . The Opening price principle are mixed so Cautious approach is needed .
BULLS: 14005 13970 13920 BEARS: 14095 14125 14160
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only