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Forecast on Spot Gold (Spot Gold, NZDUSD, USDSGD)
Written by article default Tuesday, 02 March 2010 06:54
Spot Gold
SPOT GOLD closed @ 11176.6 which was UNCHANGED from the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was PRECISELY at Precise Trader's Sup Tgt 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 Sideways while 11238 holds and Daily Trend is also Sideways while 11338 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend breached the prior day's high but the Bears gained marginally towards the close . The Hourly Trend has been in a Range Trading with no clear direction,11238-11315 are the critical levels to watch to maintain the bearish outlook . On the 5 min is along the Horizontal Channel and the patterns are suggesting a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed.
BULLS: 11110 11040 10920 BEARS: 11235 11315 11385
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
NZDUSD
NZDUSD closed @ 6995 which was ABOVE the open and was within prior day's trading range. The High was PRECISELY at Precise Trader's Hrly Level and the Low was 5 pips from Precise Trader's Sup Tgt 1. The Hourly Oscillators are MIXED and the price is Above the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 7060 holds and Daily Trend is also Sideways while 7145 holds, so expect the price to be Choppy until the breakout happens. The Daily Trend was within prior day's Range with the Bulls giving up marginally towards the close. The Hourly Trend has been in a Range Trading with no clear direction ,7025-60 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 a Choppy Session until the break. The Opening price principles are mixed so Cautious approach is needed.
BULLS: 6925 6880 6805 BEARS: 7025 7045 7100
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only
USDSGD
USDSGD closed @ 14060 which was UNCHANGED from the open and was within prior day's trading range. The High was 15 pips from Precise Trader's Res Zone 1 and the Low was PRECISELY at Precise Trader's Sup Zone 1. The Hourly Oscillators are MIXED and the price is Below the MA, so CAUTIOUS approach is needed. Hourly Trend is Sideways while 14125 holds and Daily Trend is also 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 towards the Close. The Hourly Trend has been in a Range Trading with no clear direction , 14100-25 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 Choppy Session until the break . The Opening price principle are mixed so Cautious approach is needed .
BULLS: 14005 13950 13915 BEARS: 14095 14125 14205
Conservative Traders: SIDELINED or strictly trade only at Precise Trader's Report Levels.
Aggressive Traders : Trade @ the Bulls & Bears Levels Only